Bears Become Endangered Species, as Tech Faces Zeitgeist Shift…
It’s rather ironic that value fund GMO, which has been relentlessly underperforming and losing AUM, should now be grabbing headlines for ‘melt up’...
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Sea Ltd: An "Emerging Growth" Company
Conference call reveals that Sea Ltd (SE US) is an "emerging growth" company. Management is bullish, forecasting 20-30% CAGR in 2016-21E for...
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Consumer Finance Deleveraging Clouds 2018 Outlook
● We believe there is an increasing likelihood that the fallout in cash loan sector might spread to consumer finance. What might be at risk is Ant...
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2018 M&A/IPO Activity Preview: Chinese Express, Logistics Sectors Hit by Slower Growth & BABA Vs JD
The main objectives of this note are a) to identify the main drivers of M&A activity in China's express and logistics sectors this year and b)...
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NetEase's Premium Multiples Persist Despite Slower Growth Rates
The recent strong share price performance of NetEase (NTES US) has led to some head scratching in New Street Research. Kirk Boodry notes that the...
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