Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<p><strong>FANG deterioration and market floor support</strong></p><div style="text-align: left;">NDX has been underperforming of late, creating a flash point if we see tech break lower and is also part of our short tech theme in Asia. Fang's are holding up tech and the number one crowded trade. We thought a closer look into this group will shed light on the strong vs the weak, upside targets and pivot supports that would have a direct impact on an NDX inflection. We group FB and Netflix as the weakest components with Apple and Google showing latent…</div>

FANG deterioration and market floor supportNDX has been underperforming of late, creating a flash point if we see tech break lower and is also part of our short tech theme in Asia. Fang's are holding up tech and the number one crowded trade. We thought a closer look into this group will shed light on the strong vs the weak, upside targets and pivot supports that would have a direct impact on an NDX inflection. We group FB and Netflix as the weakest components with Apple and Google showing latent…

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

<h2>Funding Secured?</h2><p>While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few problems with this:</p><ul>
<li>To start with, the PIF alone is unlikely to be able to fund an investment of this size. According to Bloomberg's listed holdings page, the fund holds USD143.7bn of assets, USD143.0bn of which are listed in Saudi Arabia (a USD694m stake in <a href="https://www.smartkarma.com/entities/21649" target="_blank" data-smartkarma-citation="entities:21649:1">Hapag-Lloyd AG (HLAG GR)</a> is the lone exception).</li>
<li>The fund has apparently already bought almost…</li>
</ul>

Funding Secured?While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few problems with this:
To start with, the PIF alone is unlikely to be able to fund an investment of this size. According to Bloomberg's listed holdings page, the fund holds USD143.7bn of assets, USD143.0bn of which are listed in Saudi Arabia (a USD694m stake in Hapag-Lloyd AG (HLAG GR) is the lone exception).
The fund has apparently already bought almost…


Tesla: Neither Funding nor Model 3 Demand Appears Secured to Us

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/8280" target="_blank" data-smartkarma-citation="entities:8280:1">Japan Display (6740 JP)</a> has had a rough time in the last year with plunging sales, worries about main customer <a href="https://www.smartkarma.com/entities/666" target="_blank" data-smartkarma-citation="entities:666:1">Apple Inc (AAPL US)</a> abandoning their LCD panels for OLED and a heavily dilutive equity offering to shore up the balance sheet. While the company is not out of the woods quite yet, conditions are brightening. We believe the company may be on track to generate OP of JPY30-43bn this FY whereas consensus is at JPY16.8bn (JPY5.1-25.3bn Min-Max). We detail our rationale in simple terms below.</p><p>…</p>

Japan Display (6740 JP) has had a rough time in the last year with plunging sales, worries about main customer Apple Inc (AAPL US) abandoning their LCD panels for OLED and a heavily dilutive equity offering to shore up the balance sheet. While the company is not out of the woods quite yet, conditions are brightening. We believe the company may be on track to generate OP of JPY30-43bn this FY whereas consensus is at JPY16.8bn (JPY5.1-25.3bn Min-Max). We detail our rationale in simple terms below.…

JDI: Cost Cuts Much Better Than We Expected, Execution Risk Exists but 2H Should Be Very Strong

Global Automotive Stocks/EV Focus/Event Driven, SC Capital

SC Capital

Global Automotive Stocks/EV Focus/Event Driven

Over 22 years covering Japanese equities on both the sell side and the buy side. 

Bottom-up Japan Equities Research

<p>Japan Display Inc. (JDI) reported a Q1 operating loss of only -Y9.8bn, which was 26% lower than consensus estimates of a loss of -Y13.3bn and in line with our estimates of -Y10bn (see <a href="https://www.smartkarma.com/insights/japan-display-6740-june-quarter-could-be-quite-strong-given-samsung-s-weak-oled-sales" target="_blank" data-smartkarma-citation="insights:22785">Japan Display (6740)--June Quarter Could Be Quite Strong Given Samsung's Weak OLED Sales</a>). While sales declined by -45% YoY to Y103bn, OP losses improved to -Y9.8bn from -Y14.4bn due mainly to restructuring benefits and strong inventory build for Apple. </p><p><strong>Watch consensus estimates rise as profit visibility has</strong>…</p>

Japan Display Inc. (JDI) reported a Q1 operating loss of only -Y9.8bn, which was 26% lower than consensus estimates of a loss of -Y13.3bn and in line with our estimates of -Y10bn (see Japan Display (6740)--June Quarter Could Be Quite Strong Given Samsung's Weak OLED Sales). While sales declined by -45% YoY to Y103bn, OP losses improved to -Y9.8bn from -Y14.4bn due mainly to restructuring benefits and strong inventory build for Apple. Watch consensus estimates rise as profit visibility has…

Japan Display--Q1 Beat Is Confirmation that FY18 Consensus Is Too Low

Actionable Insights, Assured Alpha, ANTYA Investments

ANTYA Investments

Actionable Insights, Assured Alpha

Investing That Empowers You

ANTYA Investments Inc., regulated by the Ontario Securities Commission, is registered to provide wealth management services in Canada. ANTYA manages institutional, and high net-worth client portfolios on a discretionary basis. Our investment philosophy embraces a Core-Satellite approach.  The core of the portfolio is chosen from a group of fifteen asset classes. A few stock specific asymmetrical investment opportunities comprise the satellite segment. ANTYA invests only in global, large capitalization, and investment grade companies.  

<p>At $71 billion, or $420/share, Tesla Inc. is a throwaway price. At $500/share the equity value of Tesla approaches $85 billion, which is also too low. In our view, anything less than $100 billion for Tesla is a steal for Musk and fellow investors. The business is already de-risked and has proven itself. We wouldn’t support a $420/share takeout offer, but our stake may not matter to the outcome.</p>

At $71 billion, or $420/share, Tesla Inc. is a throwaway price. At $500/share the equity value of Tesla approaches $85 billion, which is also too low. In our view, anything less than $100 billion for Tesla is a steal for Musk and fellow investors. The business is already de-risked and has proven itself. We wouldn’t support a $420/share takeout offer, but our stake may not matter to the outcome.

Tesla Inc. – Don’t Discount $420/Share – It Could Go Private at $500/Share

United States

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

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Apple (AAPL US)

FANG Deterioration and Pivot Floor

FANG deterioration and market floor supportNDX has been underperforming of late, creating a flash point if we see tech break lower and is also part...

Thomas Schroeder

Tesla: Neither Funding nor Model 3 Demand Appears Secured to Us

Funding Secured?While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few...

Mio Kato

JDI: Cost Cuts Much Better Than We Expected, Execution Risk Exists but 2H Should Be Very Strong

Japan Display (6740 JP) has had a rough time in the last year with plunging sales, worries about main customer Apple Inc (AAPL US) abandoning their...

Mio Kato

Japan Display--Q1 Beat Is Confirmation that FY18 Consensus Is Too Low

Japan Display Inc. (JDI) reported a Q1 operating loss of only -Y9.8bn, which was 26% lower than consensus estimates of a loss of -Y13.3bn and in...

SC Capital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FANG Deterioration and Pivot Floor

FANG deterioration and market floor supportNDX has been underperforming of late, creating a flash point if we see tech break lower and is also part...

Thomas Schroeder

Tesla: Neither Funding nor Model 3 Demand Appears Secured to Us

Funding Secured?While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few...

Mio Kato

JDI: Cost Cuts Much Better Than We Expected, Execution Risk Exists but 2H Should Be Very Strong

Japan Display (6740 JP) has had a rough time in the last year with plunging sales, worries about main customer Apple Inc (AAPL US) abandoning their...

Mio Kato

Japan Display--Q1 Beat Is Confirmation that FY18 Consensus Is Too Low

Japan Display Inc. (JDI) reported a Q1 operating loss of only -Y9.8bn, which was 26% lower than consensus estimates of a loss of -Y13.3bn and in...

SC Capital

Tesla Inc. – Don’t Discount $420/Share – It Could Go Private at $500/Share

At $71 billion, or $420/share, Tesla Inc. is a throwaway price. At $500/share the equity value of Tesla approaches $85 billion, which is also too...

ANTYA Investments