Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we only screen for names where the % of BUY recommendations to Total is less than 20%. However, 126 names made that list. We therefore further limited the screen by adding % of SELL recommendations greater than 30% of total recommendations. 26 names met both criteria. At the top of the list is <a href="https://www.smartkarma.com/entities/391" target="_blank" data-smartkarma-citation="entities:391:1">Sharp Corp (6753 JP)</a> with 0 BUY recommendations and 8 SELL…

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we only screen for names where the % of BUY recommendations to Total is less than 20%. However, 126 names made that list. We therefore further limited the screen by adding % of SELL recommendations greater than 30% of total recommendations. 26 names met both criteria. At the top of the list is Sharp Corp (6753 JP) with 0 BUY recommendations and 8 SELL…

Names that Are Hated and Loved by the Street in Japan....

Asia and Global Semiconductor and Tech Research

Andrew Lu

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<h2>Summary</h2>Despite much in line 1Q18 guidance (8-10% q/q sales decline, 49.5-51.5% gross margin, 38-40% operating margin), most of the incremental new messages from TSMC should drive 18 bull analysts (18 buys and 14 holds) to stay positive on the company and some of 14 bear analysts to change the side. We are positive on lower capex density (although raises sales growth to 10-15% from 5-10% y/y) with room to raise cash dividends to NT$10 per share within the next few years. We are positive on much…

SummaryDespite much in line 1Q18 guidance (8-10% q/q sales decline, 49.5-51.5% gross margin, 38-40% operating margin), most of the incremental new messages from TSMC should drive 18 bull analysts (18 buys and 14 holds) to stay positive on the company and some of 14 bear analysts to change the side. We are positive on lower capex density (although raises sales growth to 10-15% from 5-10% y/y) with room to raise cash dividends to NT$10 per share within the next few years. We are positive on much…

TSMC Expects Stronger Sales but Lower Capex Density, Implying Room to Raise Cash Dividends

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back over the last 9 years to identify companies that are always revising up and those that always revising down company guidance. We put together 3 screens. The first are companies that have revised up full-year company EPS guidance more than 60% of the time over the last 9 years. The biggest names that made the screen are  <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor Corp (7203 JP)</a>…

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back over the last 9 years to identify companies that are always revising up and those that always revising down company guidance. We put together 3 screens. The first are companies that have revised up full-year company EPS guidance more than 60% of the time over the last 9 years. The biggest names that made the screen are  Toyota Motor Corp (7203 JP)…

Which Companies Tend to Revise Company Guidance in January / February....

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:<ul><li>Add exposure to Energy and Materials. </li><li>Financial stocks are strengthening. </li><li>Avoid Australian banks. </li></ul>See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:Add exposure to Energy and Materials. Financial stocks are strengthening. Avoid Australian banks. See the attached report for a complete list of our recommendations from this list.

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

Shibaura Mechatronics / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/637" target="_blank" data-smartkarma-citation="entities:637:1">Toshiba Corp (6502 JP)</a> has been involved with what is now a very small cap company, <a href="https://www.smartkarma.com/entities/8763" target="_blank" data-smartkarma-citation="entities:8763:1">Shibaura Mechatronics Corp (6590 JP)</a> for almost 80 years since the precursor to Toshiba - a company called Tokyo Shibaura Electric - formed that same year in the merger between Shibaura Seisakusho (a maker of heavy electrical machinery) and Tokyo Denki (Japan's first lightbulb maker) - transferred part of its electrical motor business to a new company. That new company became Shibaura Mechatronics. Now, of…

Toshiba Corp (6502 JP) has been involved with what is now a very small cap company, Shibaura Mechatronics Corp (6590 JP) for almost 80 years since the precursor to Toshiba - a company called Tokyo Shibaura Electric - formed that same year in the merger between Shibaura Seisakusho (a maker of heavy electrical machinery) and Tokyo Denki (Japan's first lightbulb maker) - transferred part of its electrical motor business to a new company. That new company became Shibaura Mechatronics. Now, of…

Toshiba Selldown of Shibaura Mechatronics (6590)

Japan

Shin-Etsu Chemical Co., Ltd. produces and distributes synthetic resins and other chemical products such as fertilizers. The Company also manufactures electronic materials such as semiconductor silicon, synthetic, and rare earth quartz. Shin-Etsu Chemical operates in Japan and overseas.

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Shin Etsu Chemical (4063 JP)

Names that Are Hated and Loved by the Street in Japan....

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we...

Custom Products Group

TSMC Expects Stronger Sales but Lower Capex Density, Implying Room to Raise Cash Dividends

SummaryDespite much in line 1Q18 guidance (8-10% q/q sales decline, 49.5-51.5% gross margin, 38-40% operating margin), most of the incremental new...

Andrew Lu

Which Companies Tend to Revise Company Guidance in January / February....

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back...

Custom Products Group

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

Toshiba Selldown of Shibaura Mechatronics (6590)

Toshiba Corp (6502 JP) has been involved with what is now a very small cap company, Shibaura Mechatronics Corp (6590 JP) for almost 80 years since...

Travis Lundy

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