Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

Equity Bottom-Up

<ul>
<li>Entrust is one of the major players in the Japanese rent debt guarantee space;</li>
<li>The company possesses a solid track record of developing and growing new adjacent businesses by leveraging its know-how from the core business;</li>
<li>I am hoping for a more visible economic moat (especially from the company's new adjacencies), a higher free cash flow conversion, and/or a lower valuation.</li>
</ul>


Entrust is one of the major players in the Japanese rent debt guarantee space;
The company possesses a solid track record of developing and growing new adjacent businesses by leveraging its know-how from the core business;
I am hoping for a more visible economic moat (especially from the company's new adjacencies), a higher free cash flow conversion, and/or a lower valuation.


Entrust: Emerging Quality but Unattractive Valuation

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical picture. While there is some room to move higher in the near-term, we are hesitant to get too excited because several major indexes have additional hurdles to jump. We highlight important technical levels across major averages including Europe/UK (STOXX 600), Hong Kong (Hang Seng), Japan (TOPIX), and several EM countries (China, Brazil, Russia, Taiwan, and India).  Finally, we highlight attractive opportunities within the Consumer Discretionary, Heath Care and Services sectors.

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical picture. While there is some room to move higher in the near-term, we are hesitant to get too excited because several major indexes have additional hurdles to jump. We highlight important technical levels across major averages including Europe/UK (STOXX 600), Hong Kong (Hang Seng), Japan (TOPIX), and several EM countries (China, Brazil, Russia, Taiwan, and India).  Finally, we highlight attractive opportunities within the Consumer Discretionary, Heath Care and Services sectors.

We highlight attractive and actionable themes within developed international markets, including actionable set-ups across among: Non-bank Financials, Japanese Technology stocks, and within European Discretionary, Industrial, Health Care, and Staples sectors.

We highlight attractive and actionable themes within developed international markets, including actionable set-ups across among: Non-bank Financials, Japanese Technology stocks, and within European Discretionary, Industrial, Health Care, and Staples sectors.

Developed International Equity Strategy: Favor EAFE over EM

Japan

Prestige International Inc. provides customer relationship management (CRM) solutions services. The services include contact centers development, customer relationship management programs, value-added program designs, system designs, and strategic marketing planning.

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Prestige International (4290 JP)

Entrust: Emerging Quality but Unattractive Valuation

The company has constantly been building new growth drivers and enhancing its competitive edge, but I would like to see more evidence and/or a...

Steven Chen

Global Equity Strategy: Guarded Optimism

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical...

Vermilion Research

Developed International Equity Strategy: Favor EAFE over EM

We highlight attractive and actionable themes within developed international markets, including actionable set-ups across among: Non-bank...

Vermilion Research

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