Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>Small-Cap valuations were historically depressed, with the Russell 2000 trading at a 26% EV/EBIT discount versus the S&amp;P 500, fueling the recovery.</li>
<li>Russell 2000 outperformance reflected stronger risk appetite, with its high-beta Dynamic segment returning 61.2% versus 28.0% for Defensive stocks.</li>
<li>The Russell 2000 rally stalled after the 26 June FTSE Russell reconstitution graduated 42 stocks to the Russell 1000, including top performers like Bloom Energy. </li>
</ul>


Small-Cap valuations were historically depressed, with the Russell 2000 trading at a 26% EV/EBIT discount versus the S&amp;P 500, fueling the recovery.
Russell 2000 outperformance reflected stronger risk appetite, with its high-beta Dynamic segment returning 61.2% versus 28.0% for Defensive stocks.
The Russell 2000 rally stalled after the 26 June FTSE Russell reconstitution graduated 42 stocks to the Russell 1000, including top performers like Bloom Energy. 


Beyond the Megacaps: How Valuation, AI Rotation, and Russell Reconstitution Shaped a Smallcap Rally

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Volatility continues in the AI and AI-adjacent trade  with large daily swings</li>
<li>Some clues as to future direction from risk-off days and incoming data</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Volatility continues in the AI and AI-adjacent trade  with large daily swings
Some clues as to future direction from risk-off days and incoming data


AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

<ul>
<li>SpaceX's greenshoe exercise lifted its public float from 4.3% to 4.8%, but passive tracking capital is still forced to compete for a rationed public float with no near-term relief.</li>
<li>Cumulative Volume Delta turned negative at the exact moment price hit its all-time high, revealing aggressive selling beneath an apparently bullish tape.</li>
<li>With over 60% of day-one volume executed off-exchange, the reference price index funds must use on July 7 is effectively being set in the dark.</li>
</ul>


SpaceX's greenshoe exercise lifted its public float from 4.3% to 4.8%, but passive tracking capital is still forced to compete for a rationed public float with no near-term relief.
Cumulative Volume Delta turned negative at the exact moment price hit its all-time high, revealing aggressive selling beneath an apparently bullish tape.
With over 60% of day-one volume executed off-exchange, the reference price index funds must use on July 7 is effectively being set in the dark.


Anatomy of a Liquidity Trap: SpaceX’s NDX Entry and the Inter-Market Arbitrage

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>A limited interim deal between the US and Iran is imminent, which will extend the ceasefire until mid-August, reopen the Straits of Hormuz and remove the blockade of Iran's ports. </li>
<li>This will significantly ease the supply of crude oil and gas, allowing Brent crude prices to fall toward US$75/bbl, boosting global supplies of petrochemicals and fertilizers. Inflation will ease globally. </li>
<li>Nuclear negotiations will be fraught, but the US has more leverage, as any sanctions relief for Iran is predicated on nuclear-talks progress. Iran's missiles provide less leverage, except restarting war. </li>
</ul>


A limited interim deal between the US and Iran is imminent, which will extend the ceasefire until mid-August, reopen the Straits of Hormuz and remove the blockade of Iran's ports. 
This will significantly ease the supply of crude oil and gas, allowing Brent crude prices to fall toward US$75/bbl, boosting global supplies of petrochemicals and fertilizers. Inflation will ease globally. 
Nuclear negotiations will be fraught, but the US has more leverage, as any sanctions relief for Iran is predicated on nuclear-talks progress. Iran's missiles provide less leverage, except restarting war. 


US-Iran Near-Term Relief: War's First Phase Ending; Tough Nuclear Negotiations Ahead

Commodities

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Volatility continues in both the upside and downside, but no top is signalled yet.</li>
<li>The odds are high for a tradeable bounce in Precious Metals</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Volatility continues in both the upside and downside, but no top is signalled yet.
The odds are high for a tradeable bounce in Precious Metals


United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

Beyond the Megacaps: How Valuation, AI Rotation, and Russell Reconstitution Shaped a Smallcap Rally

Small caps outpaced mega-caps as discounted valuations and broader AI risk appetite fueled the Russell 2000—until annual index reconstitution...

Mint Finance

Overview #67 - Thin Air

A review of recent events/data impacting our investment themes and outlook. We look at the recent market action in the US as well as clues as to...

Rikki Malik

Anatomy of a Liquidity Trap: SpaceX’s NDX Entry and the Inter-Market Arbitrage

SpaceX's public float increased to 4.8%, but passive tracking capital still faces competition for limited shares. Negative CVD at stock's ATH...

Mint Finance

US-Iran Near-Term Relief: War's First Phase Ending; Tough Nuclear Negotiations Ahead

Imminent US-Iran interim deal to ease oil supply, lower prices, and boost global supplies of petrochemicals and fertilizers. Nuclear negotiations...

Prasenjit K. Basu

Overview #64 – One Small Step for Man

A review of recent events/data impacting our investment themes and outlook. We look at a potential cyclical top in bond yields and a tradeable...

Rikki Malik

Beyond the Megacaps: How Valuation, AI Rotation, and Russell Reconstitution Shaped a Smallcap Rally

Small caps outpaced mega-caps as discounted valuations and broader AI risk appetite fueled the Russell 2000—until annual index reconstitution...

Mint Finance

Overview #67 - Thin Air

A review of recent events/data impacting our investment themes and outlook. We look at the recent market action in the US as well as clues as to...

Rikki Malik

Anatomy of a Liquidity Trap: SpaceX’s NDX Entry and the Inter-Market Arbitrage

​SpaceX's public float increased to 4.8%, but passive tracking capital still faces competition for limited shares. Negative CVD at stock's ATH...

Mint Finance

US-Iran Near-Term Relief: War's First Phase Ending; Tough Nuclear Negotiations Ahead

​Imminent US-Iran interim deal to ease oil supply, lower prices, and boost global supplies of petrochemicals and fertilizers. Nuclear negotiations...

Prasenjit K. Basu

Overview #64 – One Small Step for Man

A review of recent events/data impacting our investment themes and outlook. We look at a potential cyclical top in bond yields and a tradeable...

Rikki Malik

SpaceX's public float increased to 4.8%, but passive tracking capital still faces competition for limited shares. Negative CVD at stock's ATH...

Imminent US-Iran interim deal to ease oil supply, lower prices, and boost global supplies of petrochemicals and fertilizers. Nuclear negotiations...