Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

While 2020 began on an optimistic note, sentiment has changed significantly with the outbreak of the COVID-19 coronavirus, which has spread rapidly across continents.آ  In our view, key concerns include: [1] potential demand impact on industries with significant human interaction; [2] potential impact on the economy if consumer sentiment deteriorates materially; [3] potential impact on labour force productivity; [4] potential impact on the supply chains of industries; and [5] potential impact on financial markets. We are cautious on companies which are highly levered, cyclical, have limited liquidity or significant debt maturities in the near term. In the report, we assess the impact of COVID-19 on: [1] Europe, China/Asia and the Americas; [2] supply chains; and [3] the sectors and companies under our coverage.

  While 2020 began on an optimistic note, sentiment has changed significantly with the outbreak of the COVID-19 coronavirus, which has spread rapidly across continents.آ    In our view, key concerns include: [1] potential demand impact on industries with significant human interaction; [2] potential impact on the economy if consumer sentiment deteriorates materially; [3] potential impact on labour force productivity; [4] potential impact on the supply chains of industries; and [5] potential impact on financial markets. We are cautious on companies which are highly levered, cyclical, have limited liquidity or significant debt maturities in the near term.   In the report, we assess the impact of COVID-19 on: [1] Europe, China/Asia and the Americas; [2] supply chains; and [3] the sectors and companies under our coverage. 

COVID-19: Impact On Global High Yield - Lucror Analytics

Director | Exposing Creative Accounting, Bucephalus Research Partnership

Robert Medd

Director | Exposing Creative Accounting

Exposing Creative Accounting

Bucephalus Research Partnership

Bucephalus Research Partnership Limited. Exposing Creative Accounting.

At the Bucephalus Research Partnership (BRP) we analyse financial statements using our accountant's practical experience and our own quantitative algorithms for corporate governance, accounting risk and peer performance.

Our thematic research refines our unique algorithms while our single stock research focuses on examples where we discover a significant gap between published accounts and business reality.

​Bucephalus Research Partnership:
- Is an independent fee-based research service
- Does not take proprietary positions, long or short
- Does not solicit business or fees from the corporates we review

Forensic Accounting

Rural Funds is hiding behind legalese, while failing addressing our concerns. They have called our work false and misleading even when we quote directly from the E&amp;Y report. Quality companies provide clear explanations. There is still no response as to why1) RFM, not RFF, owns J&amp;F.2) Revenue growth is slower than asset growth3) Plant asset lives are longer than the normThe E&amp;Y report does not exonerate management. If anything it reinforces our concerns.

Rural Funds is hiding behind legalese, while failing addressing our concerns. They have called our work false and misleading even when we quote directly from the E&amp;Y report. Quality companies provide clear explanations. There is still no response as to why1) RFM, not RFF, owns J&amp;F.2) Revenue growth is slower than asset growth3) Plant asset lives are longer than the normThe E&amp;Y report does not exonerate management. If anything it reinforces our concerns. 

SELL Rural Funds Group: Disingenuous and Possibly Dangerous to Your Wealth

The consolidated accounts are mis-leading, <a href="https://www.smartkarma.com/entities/24455" target="_blank" data-smartkarma-citation="entities:24455:1">JBS SA (JBSS3 BZ)</a> is not returning to health. In reality, it is running out of cash and we think it must raise capital within six months. Moreover, in 2019, it also has start amortising its Brazilian debt.

The consolidated accounts are mis-leading, JBS SA (JBSS3 BZ) is not returning to health. In reality, it is running out of cash and we think it must raise capital within six months. Moreover, in 2019, it also has start amortising its Brazilian debt.

Buy Pilgrim's Pride: Expect a Privatisation by JBS

United States

JBS S.A. operates as a processor of a range of meats. The Company processes meats, such as beef, pork, lamb and chicken, as well as the hides. JBS exports its products throughout the world.

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JBS S/A (JBSS3 BZ)

COVID-19: Impact On Global High Yield - Lucror Analytics

While 2020 began on an optimistic note, sentiment has changed significantly with the outbreak of the COVID-19 coronavirus, which has spread...

Lucror Analytics

SELL Rural Funds Group: Disingenuous and Possibly Dangerous to Your Wealth

Rural Funds is hiding behind legalese, while failing addressing our concerns. They have called our work false and misleading even when we quote...

Bucephalus Research Partnership

Buy Pilgrim's Pride: Expect a Privatisation by JBS

The consolidated accounts are mis-leading, JBS SA (JBSS3 BZ) is not returning to health. In reality, it is running out of cash and we think it must...

Bucephalus Research Partnership

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