Managing Director

Elan Gore

TMI Data Science

TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade & traditional media.  Our proprietary software, TMI Machine, is a text-mining platform designed with the buy-side & capital markets professional in mind, text-mining the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income & individual equities.  TMI provides custom leading indicators and systematic trading strategies, operating at the nexus of linguistics & statistics drawing on vast experience in investment banking and hedge fund settings in senior quantitative and fundamental roles.  

TMI Data Science was founded by Elan Gore, an award-winning Senior Global Basic Materials Equity Analyst & China Economist with 15 years of experience in North American hedge funds & institutional managers; and Alessandro Porrino, Ph.D., an Algorithmic Trading Analyst and Programmer with 10 years of front-office experience ranging from complex FX option pricing to auto-hedging strategies at Bank of America Merrill Lynch and Standard Chartered.  Mr. Gore holds an MBA in Finance from New York University Stern School of Business, and Mr. Porrino holds a Ph.D. in Systems Engineering from Brunel University London.

Commodities

Our September cyclical commodity sentiment review highlights notable divergence in the commodity space, with potential over-exuberance seen in copper and platinum; early signs of positive change seen in corn via US farmer sentiment; an accelerating slide for crude oil sentiment towards negative territory; and weak showings for uranium and mineral sands.  We discuss recent catalysts picked up via text mining for our core cyclical commodity sentiment indicators below.
For an introduction to TMI's methodology &amp; use cases, please take a look at <a href="https://www.smartkarma.com/insights/introducing-tmi-data-science-delivering-alpha-with-custom-nlp-based-leading-indicators" target="_blank" data-smartkarma-citation="insights:42826" rel="noopener">Introducing TMI Data Science: Delivering Alpha With Custom NLP-Based Leading Indicators</a>

Our September cyclical commodity sentiment review highlights notable divergence in the commodity space, with potential over-exuberance seen in copper and platinum; early signs of positive change seen in corn via US farmer sentiment; an accelerating slide for crude oil sentiment towards negative territory; and weak showings for uranium and mineral sands.  We discuss recent catalysts picked up via text mining for our core cyclical commodity sentiment indicators below.
For an introduction to TMI's methodology &amp; use cases, please take a look at Introducing TMI Data Science: Delivering Alpha With Custom NLP-Based Leading Indicators

TMI Indicators: Cyclical Commodity Sentiment Review

Over 25-yrs in Global Materials & Soft Commodities

Charles Spencer

Equity Bottom-Up

INVESTMENT VIEW:  We believe <a href="https://www.smartkarma.com/entities/13" target="_blank" data-smartkarma-citation="entities:13:1">Rio Tinto Ltd (RIO AU)</a> shares are oversold versus <a href="https://www.smartkarma.com/entities/147" target="_blank" data-smartkarma-citation="entities:147:1">Bhp Billiton (BHP AU)</a> and recommend a pair trade: long Rio; short BHP.  Our analysis of each company’s earnings sensitivities to recent commodity price changes reveals much less contention to their earnings outlook than their share price changes since mid-June implies.  We look for Rio’s shares to regain 16% on a relative basis versus BHP into the next earning cycle.

INVESTMENT VIEW:   We believe Rio Tinto Ltd (RIO AU) shares are oversold versus Bhp Billiton (BHP AU) and recommend a pair trade: long Rio; short BHP.  Our analysis of each company’s earnings sensitivities to recent commodity price changes reveals much less contention to their earnings outlook than their share price changes since mid-June implies.  We look for Rio’s shares to regain 16% on a relative basis versus BHP into the next earning cycle. 

US$20bn in Lost Market Cap Looks Hard to Justify: Recommend Long Rio; Short BHP

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

Aluminum Corporation Of China / Technical Analysis

Chalco is sliding into a better support zone for a fresh long re set. Our last long attempt to ride Chalco higher resulting in getting stopped out at 4.10. After gapping lower Chalco has drifted lower while reaching for the sub 4.0 area where we become interested on the long side again.Aluminum has cracked minor wedge support and faded from backswing resistance that sets a weaker tone to slide back to the sub 150 area with 145 very interesting buy support. Risk likes with not reaching the ideal…

Chalco is sliding into a better support zone for a fresh long re set. Our last long attempt to ride Chalco higher resulting in getting stopped out at 4.10. After gapping lower Chalco has drifted lower while reaching for the sub 4.0 area where we become interested on the long side again.Aluminum has cracked minor wedge support and faded from backswing resistance that sets a weaker tone to slide back to the sub 150 area with 145 very interesting buy support. Risk likes with not reaching the ideal…

Chalco Lower Wedge Support for a Fresh Try

We have made a case for higher US 10 year bond yields from the 2.15% level amid a bullish oil and energy stance. We are now seeing renewed signs of strength in metals and materials sectors that have been driven higher by short squeezes in Aluminum and Nickel with copper and palladium displaying fresh bullish signals. The Bloomberg commodity index is nudging up against a key inflection resistance and breakout point that once crossed, would see metals and commodities move higher in line with the…

We have made a case for higher US 10 year bond yields from the 2.15% level amid a bullish oil and energy stance. We are now seeing renewed signs of strength in metals and materials sectors that have been driven higher by short squeezes in Aluminum and Nickel with copper and palladium displaying fresh bullish signals. The Bloomberg commodity index is nudging up against a key inflection resistance and breakout point that once crossed, would see metals and commodities move higher in line with the…

Commodities Pressuring Yields - Metals Bull Theme

Materials, IPO & Equity Analyst

Venkat Ramana Nandyal

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We believe there will be winners (Mostly US commodity producers) and losers (commodity producers in some countries and all direct and indirect consumers of the commodity). In the last few weeks, the Trump administration had embarked on subjecting imported steel and aluminum to a tariff of 25% and 10% respectively. This was followed last week by the…

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We believe there will be winners (Mostly US commodity producers) and losers (commodity producers in some countries and all direct and indirect consumers of the commodity). In the last few weeks, the Trump administration had embarked on subjecting imported steel and aluminum to a tariff of 25% and 10% respectively. This was followed last week by the…

Trade and Diplomatic War Perks up Aluminum Prices

Aluminium is a chemical element with symbol Al and atomic number 13. It is a silvery-white, soft, nonmagnetic and ductile metal in the boron group.

Price Gauge
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Aluminium (AAA COMDTY)

TMI Indicators: Cyclical Commodity Sentiment Review

Our NLP-based cyclical commodity sentiment review seeks to quantify

Elan Gore

Chalco Lower Wedge Support for a Fresh Try

Chalco is sliding into a better support zone for a fresh long re set. Our last long attempt to ride Chalco higher resulting in getting stopped out...

Thomas Schroeder

Commodities Pressuring Yields - Metals Bull Theme

We have made a case for higher US 10 year bond yields from the 2.15% level amid a bullish oil and energy stance. We are now seeing renewed signs of...

Thomas Schroeder

Trade and Diplomatic War Perks up Aluminum Prices

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We...

Venkat Ramana Nandyal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TMI Indicators: Cyclical Commodity Sentiment Review

Our NLP-based cyclical commodity sentiment review seeks to quantify

Elan Gore

US$20bn in Lost Market Cap Looks Hard to Justify: Recommend Long Rio; Short BHP

INVESTMENT VIEW: We believe Rio Tinto Ltd (RIO AU) shares are oversold versus Bhp Billiton (BHP AU) and recommend a pair trade: long Rio; short...

Charles Spencer

Chalco Lower Wedge Support for a Fresh Try

Chalco is sliding into a better support zone for a fresh long re set. Our last long attempt to ride Chalco higher resulting in getting stopped out...

Thomas Schroeder

Commodities Pressuring Yields - Metals Bull Theme

We have made a case for higher US 10 year bond yields from the 2.15% level amid a bullish oil and energy stance. We are now seeing renewed signs of...

Thomas Schroeder

Trade and Diplomatic War Perks up Aluminum Prices

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We...

Venkat Ramana Nandyal