Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Equity Bottom-Up

<ul>
<li>Nvidia's blowout earnings number is another example of how grasping exponential growth trends is extremely difficult for human investors.</li>
<li>Unlike what is often assumed, Nvidia, for now, qualifies as a quality stock, revealing relentless competitive power, low debt, and reasonable valuation.</li>
<li>Nvidia's weight with Quality ETFs is bigger than its weight in the MSCI World Index, adding to quality stock outperformance.</li>
</ul>


Nvidia's blowout earnings number is another example of how grasping exponential growth trends is extremely difficult for human investors.
Unlike what is often assumed, Nvidia, for now, qualifies as a quality stock, revealing relentless competitive power, low debt, and reasonable valuation.
Nvidia's weight with Quality ETFs is bigger than its weight in the MSCI World Index, adding to quality stock outperformance.


Nvidia: A Quality Stock that Shows Human Investors Are Unable to Discount Exponential Growth

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Macroeconomics

<ul>
<li>Some recent US data has been stronger than expected especially on the inflation front.</li>
<li>Japanese domestic economy confirmed to be  in recession as we expected</li>
<li>Both markets remain buoyant – the question is for how long?</li>
</ul>


Some recent US data has been stronger than expected especially on the inflation front.
Japanese domestic economy confirmed to be  in recession as we expected
Both markets remain buoyant – the question is for how long?


Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Key Events: 1) Nvidia Results Coming Today in the U.S. 2) Elan &amp; ChipMOS Tomorrow in Taiwan 3) U.S. PC Maker Results Next Week</li>
<li>Why United Microelectronics Is Becoming a Great Long-Term Acquisition Target for Intel </li>
<li>Novatek a Top Gainer After Reports of Alliance with ARM to Build Neoverse V2 for AI</li>
</ul>


Key Events: 1) Nvidia Results Coming Today in the U.S. 2) Elan &amp; ChipMOS Tomorrow in Taiwan 3) U.S. PC Maker Results Next Week
Why United Microelectronics Is Becoming a Great Long-Term Acquisition Target for Intel 
Novatek a Top Gainer After Reports of Alliance with ARM to Build Neoverse V2 for AI


Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

<ul>
<li>Taiwan Market Surges in Post-CNY Catch-Up, TSMC a Top Gainer Locally</li>
<li>Key Events Ahead: Nvidia Results Next Week, Key Taiwan Names Reporting</li>
<li>Taiwan Dual-Listings Monitor: High Spreads to Persist After CNY Break </li>
</ul>


Taiwan Market Surges in Post-CNY Catch-Up, TSMC a Top Gainer Locally
Key Events Ahead: Nvidia Results Next Week, Key Taiwan Names Reporting
Taiwan Dual-Listings Monitor: High Spreads to Persist After CNY Break 


Taiwan Tech Weekly: TSMC Playing Post-CNY Catch-Up; All Eyes on Upcoming Nvidia Results

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/renesas-electronics-corp" target="_blank" data-smartkarma-citation="entities:15933:1" rel="noopener">Renesas Electronics (6723 JP)</a>, a supplier of advanced semiconductors, is offering <a href="https://www.smartkarma.com/entities/altium-ltd" target="_blank" data-smartkarma-citation="entities:18626:1" rel="noopener">Altium Ltd (ALU AU)</a> shareholders A$68.50/share, in cash, a lifetime high, by way of a Scheme.</li>
<li>Back in June 2021, Altium <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02382370-2A1302312" target="_blank" rel="noopener">rejected</a> a A$38.50/share NBIO, then a A$40/share verbal Offer, from US engineering software giant <a href="https://www.smartkarma.com/entities/autodesk-inc" target="_blank" data-smartkarma-citation="entities:13211:1" rel="noopener">Autodesk</a>. This was discussed in <a href="https://skr.ma/we6mt" target="_blank" rel="noopener">Altium Ltd (ALU) Rebuffs Autodesk Offer </a>
</li>
<li>This is compelling Offer for Altium. For Renesas, this transaction is a paradigm shift away from its core semiconductors manufacturing ops.</li>
</ul>



Renesas Electronics (6723 JP), a supplier of advanced semiconductors, is offering Altium Ltd (ALU AU) shareholders A$68.50/share, in cash, a lifetime high, by way of a Scheme.
Back in June 2021, Altium rejected a A$38.50/share NBIO, then a A$40/share verbal Offer, from US engineering software giant Autodesk. This was discussed in Altium Ltd (ALU) Rebuffs Autodesk Offer 

This is compelling Offer for Altium. For Renesas, this transaction is a paradigm shift away from its core semiconductors manufacturing ops.


United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Nvidia: A Quality Stock that Shows Human Investors Are Unable to Discount Exponential Growth

It's a myth that media-hyped stocks like Nvidia are unable to add to a quality stock-selection strategy. The latest blowout earnings numbers...

Jeroen Blokland

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

Key developments: Nvidia results today, Elan & ChipMOS tomorrow, and U.S. PC maker results next week. UMC a potential acquisition for Intel?...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC Playing Post-CNY Catch-Up; All Eyes on Upcoming Nvidia Results

Strong rebound after CNY with TSMC leading the gains. Nvidia results and key Taiwan companies reporting in the upcoming week. High spreads have...

Vincent Fernando, CFA

Renesas' Transformative Offer For Altium

Trading at a gross/annualised spread - assuming September completion - of 4.6%/7.9%. Inclusive of a A$0.25/share interim dividend. Pretty clean...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Nvidia: A Quality Stock that Shows Human Investors Are Unable to Discount Exponential Growth

It's a myth that media-hyped stocks like Nvidia are unable to add to a quality stock-selection strategy. The latest blowout earnings numbers...

Jeroen Blokland

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

​US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

Key developments: Nvidia results today, Elan & ChipMOS tomorrow, and U.S. PC maker results next week. UMC a potential acquisition for Intel?...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC Playing Post-CNY Catch-Up; All Eyes on Upcoming Nvidia Results

Strong rebound after CNY with TSMC leading the gains. Nvidia results and key Taiwan companies reporting in the upcoming week. High spreads have...

Vincent Fernando, CFA

Renesas' Transformative Offer For Altium

Trading at a gross/annualised spread - assuming September completion - of 4.6%/7.9%. Inclusive of a A$0.25/share interim dividend. Pretty clean...

David Blennerhassett

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.