Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political risk in the US around Trump’s candidacy and the upcoming vote for a Brexit set to take place on June 23rd.  Inaction among four major central banks this week has highlighted the fact that major policy makers are very uncertain about the impact that a potential Brexit may have on the global economy. While the risk of Brexit seems to have faded today the markets may not have fully appreciated the risk to the global economy of a Brexit.The UK economy and consumer sentiment is tightly tied to a number of other European countries which have high consumer sentiment that has been buoying overall consumer sentiment.  Any risk to this group of exuberant countries puts global consumer sentiment at real risk of a sharp drop.

 Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political risk in the US around Trump’s candidacy and the upcoming vote for a Brexit set to take place on June 23rd.  Inaction among four major central banks this week has highlighted the fact that major policy makers are very uncertain about the impact that a potential Brexit may have on the global economy. While the risk of Brexit seems to have faded today the markets may not have fully appreciated the risk to the global economy of a Brexit.The UK economy and consumer sentiment is tightly tied to a number of other European countries which have high consumer sentiment that has been buoying overall consumer sentiment.  Any risk to this group of exuberant countries puts global consumer sentiment at real risk of a sharp drop.

Global Economy Dodges a Bullet - Brexit Could Cause Global Recession

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund <a href="https://www.smartkarma.com/entities/22754" target="_blank" data-smartkarma-citation="entities:22754">Vietnam Enterprise Investments Limited</a>, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Japanese Turnaround Situations, Short-Ideas, Azabu Research

Michael Allen

Japanese Turnaround Situations, Short-Ideas

Azabu Research

Azabu Research is a publishing and consulting firm focused on distressed equities in the Japanese market. We specialize in turnaround strategies, corporate combinations, divestitures, and restructuring.

Publisher of the Tokyo Turnaround Letter, which conducts the most thorough research possible of publicly available information, including forensic tests for fraudulent overstatement of assets and understatement of liabilities, as well as rigorous market and industry analysis to assess the underlying strengths of the company’s products or services, the appropriateness of the company’s turnaround strategy, and the skill of its current management team. The average length of a report exceeds 25 pages of text and tables, excluding any disclosures or executive summaries.

We have more than 30 years of experience in applying this process to distressed equities in Japan. Additionally, subscribers have free access to detailed, yet easily navigated earnings models for the target company as well as the top five comparable companies, and unlimited access to the analyst for follow-up questions.

Azabu Research also conducts be-spoke research on a project basis, and provides consulting services to companies looking to restructure, divest, make acquisitions, go public, or improve investor sentiment toward their stock.

Independent Research and Consulting Firm

Equity Bottom-Up

<ul>
<li>Dentsu’s problems are fixable, and tiny changes in cost assumptions swing operating profit massively. Consensus seems far too cautious.</li>
<li>The cleanup is real: headcount is down 6%, and 500 weak business lines have been shut or merged. Yen weakness shifts from headwind to profit accelerant.</li>
<li>After 2025’s brutal write-downs and with acquisitions frozen, RoE could surge into the high-teens and then stabilize above 20%, forcing a re-rating of the badly distressed equity.</li>
</ul>


Dentsu’s problems are fixable, and tiny changes in cost assumptions swing operating profit massively. Consensus seems far too cautious.
The cleanup is real: headcount is down 6%, and 500 weak business lines have been shut or merged. Yen weakness shifts from headwind to profit accelerant.
After 2025’s brutal write-downs and with acquisitions frozen, RoE could surge into the high-teens and then stabilize above 20%, forcing a re-rating of the badly distressed equity.


Dentsu (4324): Baby Steps Lead to Giant Improvements

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<ul><li class="p1">We view the overall market as slightly undervalued, based on our fair value estimates for approximately 1,500 global companies.</li><li class="p1">The financial services, consumer cyclical, and healthcare sectors are the most undervalued, while the basic materials sector is our only overvalued sector.</li><li class="p1">Oil price concerns are hurting the financial services sector, while divergent paths for China’s future fixed asset investment growth and consumption inform our thinking in the basic materials and consumer cyclical sectors.</li></ul>Analyst: Elizabeth Collins

We view the overall market as slightly undervalued, based on our fair value estimates for approximately 1,500 global companies.The financial services, consumer cyclical, and healthcare sectors are the most undervalued, while the basic materials sector is our only overvalued sector.Oil price concerns are hurting the financial services sector, while divergent paths for China’s future fixed asset investment growth and consumption inform our thinking in the basic materials and consumer cyclical sectors.Analyst: Elizabeth Collins

Stock Market Outlook: Stocks Start to Look More Attractive

Information Technology Consultant

Ishita Jain

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called, is enjoyed the world over in equal measure. Whether you like it smoky, smooth or peaty, whisky has always made good company. And now, over the last few years it's caught the imagination of the general public not only on the taste buds but also in portfolios. New and innovative ways to invest have cropped up in what used to be a drink reserved for the rich and the elite. The article gives an overview of the whisky market and some ways to invest in it. For those unaware of the difference between whisky and whiskey, you can read more <a href="http://www.whiskyforeveryone.com/whisky_basics/whisky_or_whiskey.html" target="_blank">here</a>.

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called, is enjoyed the world over in equal measure. Whether you like it smoky, smooth or peaty, whisky has always made good company. And now, over the last few years it's caught the imagination of the general public not only on the taste buds but also in portfolios. New and innovative ways to invest have cropped up in what used to be a drink reserved for the rich and the elite. The article gives an overview of the whisky market and some ways to invest in it. For those unaware of the difference between whisky and whiskey, you can read more here.

United Kingdom

WPP is a British multinational communications, advertising, public relations, technology, and commerce holding company. It offers a comprehensive range of services including advertising, media planning and buying, public relations, brand consulting, and digital marketing. The company is headquartered in London, England, and was founded in 1971.

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WPP (WPP LN)

Global Economy Dodges a Bullet - Brexit Could Cause Global Recession

Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political...

David Riedel

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently...

Nomadic Equity

Dentsu (4324): Baby Steps Lead to Giant Improvements

Dentsu's problems are huge, but fixable. Very minor cost adjustments could lead to a massive surge in RoE to above 20% and lead to re-rating of...

Michael Allen

Stock Market Outlook: Stocks Start to Look More Attractive

We view the overall market as slightly undervalued, based on our fair value estimates for approximately 1,500 global companies. The financial...

Morningstar, Inc.

Whisky - Rarer the Richer

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called,...

Ishita Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Economy Dodges a Bullet - Brexit Could Cause Global Recession

Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political...

David Riedel

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently...

Nomadic Equity

Dentsu (4324): Baby Steps Lead to Giant Improvements

​Dentsu's problems are huge, but fixable. Very minor cost adjustments could lead to a massive surge in RoE to above 20% and lead to re-rating of...

Michael Allen

Stock Market Outlook: Stocks Start to Look More Attractive

We view the overall market as slightly undervalued, based on our fair value estimates for approximately 1,500 global companies. The financial...

Morningstar, Inc.

Whisky - Rarer the Richer

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called,...

Ishita Jain

Dentsu's problems are huge, but fixable. Very minor cost adjustments could lead to a massive surge in RoE to above 20% and lead to re-rating of...