Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shinko Electric Industries / Event-Driven

<ul>
<li>JIC announced a "mid-February" start date for <a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric (6967 JP)</a>'s Tender Offer. That's a trifle disappointing based on when SAMR approved, but there are lots of people involved here.</li>
<li>What has been the long-term trend and the trend of the last two years is different. Be long <a href="https://www.smartkarma.com/entities/tsuruha-holdings-inc" target="_blank" data-smartkarma-citation="entities:9536:1" rel="noopener">Tsuruha (3391 JP)</a>, short <a href="https://www.smartkarma.com/entities/welcia-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20895:1" rel="noopener">Welcia (3141 JP)</a> until above 4.5x, maybe 4.8x.</li>
<li>
<a href="https://www.smartkarma.com/entities/macromill-inc" target="_blank" data-smartkarma-citation="entities:24026:1" rel="noopener">Macromill, Inc (3978 JP)</a>'s reward/risk ratio over the next year of buying at ¥1,250 and seeing what happens is quite good, especially if the deal breaks.</li>
</ul>


JIC announced a "mid-February" start date for Shinko Electric (6967 JP)'s Tender Offer. That's a trifle disappointing based on when SAMR approved, but there are lots of people involved here.
What has been the long-term trend and the trend of the last two years is different. Be long Tsuruha (3391 JP), short Welcia (3141 JP) until above 4.5x, maybe 4.8x.

Macromill, Inc (3978 JP)'s reward/risk ratio over the next year of buying at ¥1,250 and seeing what happens is quite good, especially if the deal breaks.


Last Week in Event SPACE: Shinko Elec, Tsuruha/Welcia, Macromill, Sun Corp/Cellebrite, MicroStrategy

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

Cross Asset Strategy

<ul>
<li>Rates and Equities: Fed may pause and further cut rates, impacting equities down the line</li>
<li>Bitcoin's Impact: MicroStrategy adding Bitcoin to its capital structure driving positive skew impact on equity</li>
<li>Portfolio Diversification: Bitcoin and gold showing more upside potential volatility compared to traditional assets like equities and bonds</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Rates and Equities: Fed may pause and further cut rates, impacting equities down the line
Bitcoin's Impact: MicroStrategy adding Bitcoin to its capital structure driving positive skew impact on equity
Portfolio Diversification: Bitcoin and gold showing more upside potential volatility compared to traditional assets like equities and bonds

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Bill Mann & Mark Connors: Rate Volatility: Key to Market Trends | The New Barbarians Podcast - #003

Research from Value Investing, Value Investing

Value Investing

Research from Value Investing

I am a value investor. "Value", as defined in Value Investing, is simply the act of buying something for less than its worth. I treat my equity investment as a loan to the business - where the priority is to get back my principal in full, rather than achieving maximum yield. I consider my equity investment as a slightly higher risk loan extended to the business with slightly more accommodative loan covenants - hence justifying a slightly higher yield. While I identify as a value investor and cover all stocks and macro topics indiscriminately, most of my research will have an ASEAN bent as that’s where I’m geographically located.

Equity Bottom-Up

<ul><li>Buffett has famously called Bitcoin a “mirage” and “rat poison squared”.</li><li>If so, then the corporate wrapper masquerading as intelligent leverage of Bitcoin known as MSTR equals that squared — and is perhaps the epitome of late-stage capital cycles expressed</li><li>Before I start, let me just say that I completely get the bull thesis behind Bitcoin. </li></ul>

Buffett has famously called Bitcoin a “mirage” and “rat poison squared”.If so, then the corporate wrapper masquerading as intelligent leverage of Bitcoin known as MSTR equals that squared — and is perhaps the epitome of late-stage capital cycles expressedBefore I start, let me just say that I completely get the bull thesis behind Bitcoin. 

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>MicroStrategy, a company often described as the corporate Bitcoin (BTC) whale, has been making waves again in the financial markets.</li><li>Over the past week, the company’s stock surged nearly 25%, reflecting renewed investor enthusiasm for its aggressive Bitcoin acquisition strategy and a recent 0% convertible debt offering.</li><li>This latest rally has caught the attention of Reddit forums and cryptocurrency enthusiasts, further cementing MicroStrategy's position as a pivotal player in the digital asset space.</li></ul>

MicroStrategy, a company often described as the corporate Bitcoin (BTC) whale, has been making waves again in the financial markets.Over the past week, the company’s stock surged nearly 25%, reflecting renewed investor enthusiasm for its aggressive Bitcoin acquisition strategy and a recent 0% convertible debt offering.This latest rally has caught the attention of Reddit forums and cryptocurrency enthusiasts, further cementing MicroStrategy's position as a pivotal player in the digital asset space.

MicroStrategy: Visionary Bitcoin Bet or a Bubble on the Brink?

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Hello everyone, and welcome back to our weekly positioning watch.</li><li>Main Takeaways: The energy bet is starting to look compelling. Oil positioning is fairly bearish, and it seems hedge funds are starting to play the oil trade from the short side after months of avoiding energy altogether.</li><li>The risk asset trade is still on, but positioning is stretched. The Santa rally suggests higher equity prices, but year-end position squaring could disrupt the long equities play.</li></ul>

Hello everyone, and welcome back to our weekly positioning watch.Main Takeaways: The energy bet is starting to look compelling. Oil positioning is fairly bearish, and it seems hedge funds are starting to play the oil trade from the short side after months of avoiding energy altogether.The risk asset trade is still on, but positioning is stretched. The Santa rally suggests higher equity prices, but year-end position squaring could disrupt the long equities play.

Positioning Watch – The Herd Behavior Strikes Back!

United States

Strategy Inc operates a bitcoin treasury company. The Company offers an equity and fixed income instruments to provide investors varying degrees of economic exposure to bitcoin, as well as develops enterprise analytics software to explore improvement in bitcoin applications. Strategy serves customers worldwide.

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Strategy (MSTR US)

Last Week in Event SPACE: Shinko Elec, Tsuruha/Welcia, Macromill, Sun Corp/Cellebrite, MicroStrategy

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Bill Mann & Mark Connors: Rate Volatility: Key to Market Trends | The New Barbarians Podcast - #003

Insights and outlooks for 2025 in economics, markets, and digital assets, including Bitcoin, with projections on market volatility, industry...

William Mann

MSTR = Bitcoin (Garbage) Squared

If so, then the corporate wrapper masquerading as intelligent leverage of Bitcoin known as MSTR equals that squared — and is perhaps the epitome of...

Value Investing

MicroStrategy: Visionary Bitcoin Bet or a Bubble on the Brink?

MicroStrategy, a company often described as the corporate Bitcoin (BTC) whale, has been making waves again in the financial markets. Over the past...

Baptista Research

Positioning Watch – The Herd Behavior Strikes Back!

Hello everyone, and welcome back to our weekly positioning watch. Main Takeaways:The energy bet is starting to look compelling. Oil positioning is...

Steno Research

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