Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

While we understand the market’s concern at the slowdown on Switch’s shipment momentum, we believe that the current share price is too pessimistic. We acknowledge that the market was disappointed as: 1) shipment of Nintendo Labo, launched in April, was weaker than expected; 2) Nintendo’s announcement at E3 suggests that no big titles will be released in summer 2018; and 3) Super Smash Bros Ultimate is coming later than the market’s expectation, and therefore, we may see a temporary slowdown on…

While we understand the market’s concern at the slowdown on Switch’s shipment momentum, we believe that the current share price is too pessimistic. We acknowledge that the market was disappointed as: 1) shipment of Nintendo Labo, launched in April, was weaker than expected; 2) Nintendo’s announcement at E3 suggests that no big titles will be released in summer 2018; and 3) Super Smash Bros Ultimate is coming later than the market’s expectation, and therefore, we may see a temporary slowdown on…

Trim Nintendo FVE to JPY 51,000, but Share Price Decline Over-Reaction to Short-Term Disappointment

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

Thematic (Sector/Industry)

THREE-MONTH % CHANGE IN SECTORS &amp; PEER GROUPS - This regular insight focuses on the percentage change in each sectors' weight in the market composite over the last three months and provides a quick snapshot of current market trends.  In this insight, we have added the top and bottom Peer Groups measured by their three-month basis point change in weight in the market composite.<hr>SECTORS<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/054/090/original/2018-06-03_11-45-50.png?1527993978" class="editor-image img-responsive" data-smartkarma-image-id="54090"></figure><div class="content-caption">Source: Japan Analytics</div>DOMESTIC SECTORS OUT-PERFORM - Domestic sectors continue to out-perform. The only…

THREE-MONTH % CHANGE IN SECTORS &amp; PEER GROUPS - This regular insight focuses on the percentage change in each sectors' weight in the market composite over the last three months and provides a quick snapshot of current market trends.  In this insight, we have added the top and bottom Peer Groups measured by their three-month basis point change in weight in the market composite.SECTORSSource: Japan AnalyticsDOMESTIC SECTORS OUT-PERFORM - Domestic sectors continue to out-perform. The only…

Japan: Sectors/Peer Groups 3M🔺Too Early to Bottom-Fish Cyclicals •Time to Trim Personal Products

Actionable Insights, Assured Alpha, ANTYA Investments

ANTYA Investments

Actionable Insights, Assured Alpha

Investing That Empowers You

ANTYA Investments Inc., regulated by the Ontario Securities Commission, is registered to provide wealth management services in Canada. ANTYA manages institutional, and high net-worth client portfolios on a discretionary basis. Our investment philosophy embraces a Core-Satellite approach.  The core of the portfolio is chosen from a group of fifteen asset classes. A few stock specific asymmetrical investment opportunities comprise the satellite segment. ANTYA invests only in global, large capitalization, and investment grade companies.  

With each passing month, we grow more steadfast in our belief that The Fed will show greater resolve than currently anticipated by many investors. The U.S. labour market is exceptionally tight where it matters, i.e. in high-skill and or high-training jobs and is now close to the edge in low-skilled employment as the data highlighted in this insight by us show. In terms of sector and stock positioning ....

With each passing month, we grow more steadfast in our belief that The Fed will show greater resolve than currently anticipated by many investors. The U.S. labour market is exceptionally tight where it matters, i.e. in high-skill and or high-training jobs and is now close to the edge in low-skilled employment as the data highlighted in this insight by us show. In terms of sector and stock positioning ....

April Employment Report - Foreshadows a Continued Weakness in Yen and Weaker Emerging Markets

Although Nintendo’s new operating income guidance of JPY 225 billion for fiscal 2019 is below our forecast of JPY 325 billion, the guidance is conservative as usual. We believe that unique user experience such as Nintendo Labo will help cultivate new fans, and a greater number of third-party games will attract more core gamers to its ecosystem. As a result, we believe that the hardware shipment will accelerate this year and exceed Nintendo’s forecast. Moreover, we view that software shipment is…

Although Nintendo’s new operating income guidance of JPY 225 billion for fiscal 2019 is below our forecast of JPY 325 billion, the guidance is conservative as usual. We believe that unique user experience such as Nintendo Labo will help cultivate new fans, and a greater number of third-party games will attract more core gamers to its ecosystem. As a result, we believe that the hardware shipment will accelerate this year and exceed Nintendo’s forecast. Moreover, we view that software shipment is…

Nintendo’s Guidance on Switch Shipment Looks Conservative; Shares Undervalued

Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

<ul>
<li>Trump’s confrontations with China and Amazon are addressing economic taboos which Washington has long chosen to ignore and trampling over the army of lobbyists paid to maintain the status quo.</li>
<li>The view in the last note that China can’t win a tariff war and will be forced to deal inspired the sharp rally this week, led by Japan and Europe, energy and the USD but volatility is the new normal.</li>
<li>The lessons from the Enron debacle bear revisiting i.e. be suspicious of gratuitous financial complexity…</li>
</ul>


Trump’s confrontations with China and Amazon are addressing economic taboos which Washington has long chosen to ignore and trampling over the army of lobbyists paid to maintain the status quo.
The view in the last note that China can’t win a tariff war and will be forced to deal inspired the sharp rally this week, led by Japan and Europe, energy and the USD but volatility is the new normal.
The lessons from the Enron debacle bear revisiting i.e. be suspicious of gratuitous financial complexity…


Enron Revisited, Esports to Broaden Gaming Market…

Japan

Nintendo Co., Ltd. develops, manufactures, and sells household leisure equipment. The Company produces home use video game hardware and software products. Nintendo markets its products throughout Japan.

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Nintendo (NTDOY US)

Japan: Sectors/Peer Groups 3M🔺Too Early to Bottom-Fish Cyclicals •Time to Trim Personal Products

THREE-MONTH % CHANGE IN SECTORS & PEER GROUPS - This regular insight focuses on the percentage change in each sectors' weight in the market...

Campbell Gunn

April Employment Report - Foreshadows a Continued Weakness in Yen and Weaker Emerging Markets

With each passing month, we grow more steadfast in our belief that The Fed will show greater resolve than currently anticipated by many investors....

ANTYA Investments

Nintendo’s Guidance on Switch Shipment Looks Conservative; Shares Undervalued

Although Nintendo’s new operating income guidance of JPY 225 billion for fiscal 2019 is below our forecast of JPY 325 billion, the guidance is...

Morningstar, Inc.

Enron Revisited, Esports to Broaden Gaming Market…

Trump’s confrontations with China and Amazon are addressing economic taboos which Washington has long chosen to ignore and trampling over the army...

Sean Maher

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52-week Range

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Trim Nintendo FVE to JPY 51,000, but Share Price Decline Over-Reaction to Short-Term Disappointment

While we understand the market’s concern at the slowdown on Switch’s shipment momentum, we believe that the current share price is too pessimistic....

Morningstar, Inc.

Japan: Sectors/Peer Groups 3M🔺Too Early to Bottom-Fish Cyclicals •Time to Trim Personal Products

THREE-MONTH % CHANGE IN SECTORS & PEER GROUPS - This regular insight focuses on the percentage change in each sectors' weight in the market...

Campbell Gunn

April Employment Report - Foreshadows a Continued Weakness in Yen and Weaker Emerging Markets

With each passing month, we grow more steadfast in our belief that The Fed will show greater resolve than currently anticipated by many investors....

ANTYA Investments

Nintendo’s Guidance on Switch Shipment Looks Conservative; Shares Undervalued

Although Nintendo’s new operating income guidance of JPY 225 billion for fiscal 2019 is below our forecast of JPY 325 billion, the guidance is...

Morningstar, Inc.

Enron Revisited, Esports to Broaden Gaming Market…

Trump’s confrontations with China and Amazon are addressing economic taboos which Washington has long chosen to ignore and trampling over the army...

Sean Maher