CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Equity Bottom-Up

<ul><li>Good price momentum, low volatility in earnings, and low core profit valuation relative to its sector</li><li>Strong presales should drive earnings moving forward. As of 10M17, AP had surpassed its full-year presales target of Bt26bn by 16% and had a backlog of Bt39bn</li><li>Profit contribution from its JV with Mitsubishi Estate should grow further, driven by new project launches such as Life Asoke-Rama 9, equity income in 9M17 was 99% of full-year 2016 equity income</li><li>Attractive as it trades below Thai Real Estate at 18CE* 7.8x PE but offers earnings growth that is in line</li><li>Risks: Project delays and increasing competition</li></ul>* Consensus Estimates

Good price momentum, low volatility in earnings, and low core profit valuation relative to its sectorStrong presales should drive earnings moving forward. As of 10M17, AP had surpassed its full-year presales target of Bt26bn by 16% and had a backlog of Bt39bnProfit contribution from its JV with Mitsubishi Estate should grow further, driven by new project launches such as Life Asoke-Rama 9, equity income in 9M17 was 99% of full-year 2016 equity incomeAttractive as it trades below Thai Real Estate at 18CE* 7.8x PE but offers earnings growth that is in lineRisks: Project delays and increasing competition* Consensus Estimates

AP (AP TB): Cheap Real Estate Developer Reaping Benefits from JV

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

Recently, MCorp Review listened to a talk by E8 Consulting on open source and its applications in building fintech platforms and developing investing strategies and found it quite interesting. Firstly, they defined open source and explained why it was so useful. Typically, open source is free and bound by certain license terms; it allows various users to change the source code and develop commercial applications for it. Probably, the best example of this is how Bloomberg terminals, a highly…

Recently, MCorp Review listened to a talk by E8 Consulting on open source and its applications in building fintech platforms and developing investing strategies and found it quite interesting. Firstly, they defined open source and explained why it was so useful. Typically, open source is free and bound by certain license terms; it allows various users to change the source code and develop commercial applications for it. Probably, the best example of this is how Bloomberg terminals, a highly…

Thailand

AP Thailand PCL is a property development company. The Company develops residential property projects in Bangkok areas as well as manufactures and distributes precast concrete products.

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AP Thailand PCL (AP TB)

AP (AP TB): Cheap Real Estate Developer Reaping Benefits from JV

Good price momentum, low volatility in earnings, and low core profit valuation relative to its sector Strong presales should drive earnings moving...

A. Stotz Investment Research

EB on Open Source & Investing

Recently, MCorp Review listened to a talk by E8 Consulting on open source and its applications in building fintech platforms and developing...

Athaporn Arayasantiparb, CFA

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