Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>We have made our best efforts to summarize the content published in the most recent IRENA report on renewable energy financing.</li><li>This report provides a quick summary of key facts from the 120-plus-page report. </li><li>While worldwide investment in renewable energy reached a record high of US$0.5 trillion in 2022, it represented less than 40% average expenditure required under IRENA’s 1.5°C Scenario between 2021 and 2030.</li></ul>

We have made our best efforts to summarize the content published in the most recent IRENA report on renewable energy financing.This report provides a quick summary of key facts from the 120-plus-page report. While worldwide investment in renewable energy reached a record high of US$0.5 trillion in 2022, it represented less than 40% average expenditure required under IRENA’s 1.5°C Scenario between 2021 and 2030.

Key Takeaways from IRENA’s Global Landscape of Renewable Energy Finance 2023 Report

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Macroeconomics

<div>
<div>
<div>
<h2>ECOGNOSIS ADVISORY LTD</h2>
<div>
<div>
<div>
<p>From the Greek: OIKONOMIKH ΓNΩΣΙΣ (Ekonomiki Gnosis, Knowledge of Economics). Ecognosis is a global financial, economic advisory and information service, covering economic and financial developments, equities, fixed income, forex, commodities and other assets. Econotes is a research publication available free on our internet site and to the public in Hong Kong. It is not a solicitation for business and neither does it contain investment suggestions on specific and named securities including any buy, sell or hold advice. It is written by Dr. Andrew F. Freris based on 54 years of market experience which includes senior positions with GT Capital, Salomon Brothers, Bank of America and BNP Paribas as well as senior academic posts with universities in London and in Hong Kong.</p>
<div>
<div>
<div>
<h3>Summary</h3>
<div>
<div>
<div>
<div>
<p>The content of this report may appear superciliously “clever” , but all the issues mentioned are interconnected. Hence the nightmare scenario of juggling with all of them in order to guide hapless investors where to lose their money. (No typo here!). We draw the interconnecting lines and note that Covid has still a major impact on macro developments and investment but totally unpredictable in its course as the Chinese state is expensively finding out. There are investment areas which are “Covid immune” such as the defence sector, which leads us to Ukraine. The impact of the war on the prices of gas and oil contributed greatly to inflation in the EU but less so in the US, but rates in both economies were hiked sharply. As energy -price- led -inflation spread, and economies slowed down, climate policies came under pressure at the same time of widespread discontent with the role of ESG, Green Finance and Carbon Trading.</p>
<div>
<div>
<div>
<h3>Investment Conclusions</h3>
<div>
<div>
<div>
<div>
<p>Bar China and Hong Kong, most countries are “living with Covid” thus minimizing the man - made impact of the pandemic via its lock-down and isolation policies. The infections continue to rise and their course is unpredictable as is the “Long Covid’ side effects now being felt. Hence Covid-related macro themes must be handled differently, and here is where the Defence sector steps in as it is Covid proof. The inflation related rate hikes in the US and EU (but be noted, not in Japan and China) will slow the economies down. An investible side- effect of this will be the pressure to ease on climate related policies (both macro and micro) thus making ESG and Green funding proposals, less relevant in addition to the doubts as to their veracity. Expect a short-term boom in fossil fuels with the easing of emissions controls and a bear period for carbon credits and offsets.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>




ECOGNOSIS ADVISORY LTD



From the Greek: OIKONOMIKH ΓNΩΣΙΣ (Ekonomiki Gnosis, Knowledge of Economics). Ecognosis is a global financial, economic advisory and information service, covering economic and financial developments, equities, fixed income, forex, commodities and other assets. Econotes is a research publication available free on our internet site and to the public in Hong Kong. It is not a solicitation for business and neither does it contain investment suggestions on specific and named securities including any buy, sell or hold advice. It is written by Dr. Andrew F. Freris based on 54 years of market experience which includes senior positions with GT Capital, Salomon Brothers, Bank of America and BNP Paribas as well as senior academic posts with universities in London and in Hong Kong.



Summary




The content of this report may appear superciliously “clever” , but all the issues mentioned are interconnected. Hence the nightmare scenario of juggling with all of them in order to guide hapless investors where to lose their money. (No typo here!). We draw the interconnecting lines and note that Covid has still a major impact on macro developments and investment but totally unpredictable in its course as the Chinese state is expensively finding out. There are investment areas which are “Covid immune” such as the defence sector, which leads us to Ukraine. The impact of the war on the prices of gas and oil contributed greatly to inflation in the EU but less so in the US, but rates in both economies were hiked sharply. As energy -price- led -inflation spread, and economies slowed down, climate policies came under pressure at the same time of widespread discontent with the role of ESG, Green Finance and Carbon Trading.



Investment Conclusions




Bar China and Hong Kong, most countries are “living with Covid” thus minimizing the man - made impact of the pandemic via its lock-down and isolation policies. The infections continue to rise and their course is unpredictable as is the “Long Covid’ side effects now being felt. Hence Covid-related macro themes must be handled differently, and here is where the Defence sector steps in as it is Covid proof. The inflation related rate hikes in the US and EU (but be noted, not in Japan and China) will slow the economies down. An investible side- effect of this will be the pressure to ease on climate related policies (both macro and micro) thus making ESG and Green funding proposals, less relevant in addition to the doubts as to their veracity. Expect a short-term boom in fossil fuels with the easing of emissions controls and a bear period for carbon credits and offsets.





















United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

Crude Oil (CL1 COM COMDTY)

Key Takeaways from IRENA’s Global Landscape of Renewable Energy Finance 2023 Report

We have made our best efforts to summarize the content published in the most recent IRENA report on renewable energy financing.

Water Tower Research

Ecognosis Advisory Ltd

ECOGNOSIS ADVISORY LTD From the Greek: OIKONOMIKH ΓNΩΣΙΣ (Ekonomiki Gnosis, Knowledge of Economics). Ecognosis is a global financial,...

VRS (Valuation & Research Specialists)