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

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move. While potential resistance levels exist, recent developments only bolster our already positive outlook.  In today's report, we highlight actionable setups within our global Technology, and Real Estate Developers and REITs Groups.

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move. While potential resistance levels exist, recent developments only bolster our already positive outlook.  In today's report, we highlight actionable setups within our global Technology, and Real Estate Developers and REITs Groups.

MSCI ACWI’s Advance Continues: U.S. And Emerging Markets Leading the Way

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Thematic (Sector/Industry)

It seems strange that of all the firms in Japan to error so badly on the investor relations front it should be <a href="https://www.smartkarma.com/entities/563" target="_blank" data-smartkarma-citation="entities:563:1">Sony (6758 JP)</a>. Management has a good rapport with shareholders, disclosure is among the best in the country (although the firm does have an irritating habit of juggling its business lines each year), and the firm has a great story to tell. However, twice in short succession management has disappointed the market, first with its FY18 forecasts and then with the mid-term plan unveiled at…

It seems strange that of all the firms in Japan to error so badly on the investor relations front it should be Sony (6758 JP). Management has a good rapport with shareholders, disclosure is among the best in the country (although the firm does have an irritating habit of juggling its business lines each year), and the firm has a great story to tell. However, twice in short succession management has disappointed the market, first with its FY18 forecasts and then with the mid-term plan unveiled at…

Japan Gets an Object Lesson in Investor Relations

It is widely observed that the Japanese stock market performs poorly in calendar 1Q and seems to do okay for the rest of the year. With that in mind, and taking advantage of the fact that Japanese quiet season has become Trappist in the extreme, we undertook a three week 12-city marketing trip of the US and Canada, based around twelve large cap recommendations (split into quality and speculative), twelve small-cap recommendations and six negative ones. The recommendations were from across the…

It is widely observed that the Japanese stock market performs poorly in calendar 1Q and seems to do okay for the rest of the year. With that in mind, and taking advantage of the fact that Japanese quiet season has become Trappist in the extreme, we undertook a three week 12-city marketing trip of the US and Canada, based around twelve large cap recommendations (split into quality and speculative), twelve small-cap recommendations and six negative ones. The recommendations were from across the…

Observations from Three Weeks Marketing Japanese Equities in the US

Equity Analyst, LightStream Research

Farha Sabri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Sony Corp reported its FY03/18 results on Friday, recording 12.7% YoY growth in revenue (JPY8,544bn) and a whopping 154.5% growth in its OP (JPY734.9bn). The company saw strong revenue growth in all but its Mobile Communications segment. The growth in OP was primarily a result of the increased sales coupled with favourable foreign exchange rate movements. Sony’s top-line was a touch lower (0.4%) than consensus average estimates of JPY8,577bn. This was the case with Sony’s OP as well which was…

Sony Corp reported its FY03/18 results on Friday, recording 12.7% YoY growth in revenue (JPY8,544bn) and a whopping 154.5% growth in its OP (JPY734.9bn). The company saw strong revenue growth in all but its Mobile Communications segment. The growth in OP was primarily a result of the increased sales coupled with favourable foreign exchange rate movements. Sony’s top-line was a touch lower (0.4%) than consensus average estimates of JPY8,577bn. This was the case with Sony’s OP as well which was…

Sony Reports Stellar Performance in FY03/18; Dulls Forecast for FY03/19

Global Automotive Stocks/EV Focus/Event Driven, SC Capital

SC Capital

Global Automotive Stocks/EV Focus/Event Driven

Over 22 years covering Japanese equities on both the sell side and the buy side. 

Bottom-up Japan Equities Research

The Nikkei Shimbun, a Japanese economic daily, reported today that Sharp came in with FY3/18 sales and OP slightly above consensus, but should guide for sales and OP much higher than consensus for FY3/19. There were no sources attributed to these numbers, but Hon Hai has been leaking these quarterly "preview" numbers without fail ever since taking over the helm at Sharp.  FY3/18 Sales were expected to have reached Y2.5tr (+2.1% above consensus) and OP came in at Y95bn (+2.3% above consensus), so…

The Nikkei Shimbun, a Japanese economic daily, reported today that Sharp came in with FY3/18 sales and OP slightly above consensus, but should guide for sales and OP much higher than consensus for FY3/19. There were no sources attributed to these numbers, but Hon Hai has been leaking these quarterly "preview" numbers without fail ever since taking over the helm at Sharp.  FY3/18 Sales were expected to have reached Y2.5tr (+2.1% above consensus) and OP came in at Y95bn (+2.3% above consensus), so…

Sharp (6753) Reported to Guide for FY3/19 Profits 11% Above Consensus

Japan

Sony Corporation manufactures audio, home video game consoles, communications, key device and information technology products for the consumer and professional markets.  The Company's other businesses include music, pictures, computer entertainment, and online businesses.

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Sony Corp (6758 JP)

MSCI ACWI’s Advance Continues: U.S. And Emerging Markets Leading the Way

The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March with the U.S. and Emerging Markets leading the move....

Vermilion Research

Japan Gets an Object Lesson in Investor Relations

It seems strange that of all the firms in Japan to error so badly on the investor relations front it should be Sony (6758 JP). Management has a...

Pelham Smithers Associates

Observations from Three Weeks Marketing Japanese Equities in the US

It is widely observed that the Japanese stock market performs poorly in calendar 1Q and seems to do okay for the rest of the year. With that in...

Pelham Smithers Associates

Sony Reports Stellar Performance in FY03/18; Dulls Forecast for FY03/19

Sony Corp reported its FY03/18 results on Friday, recording 12.7% YoY growth in revenue (JPY8,544bn) and a whopping 154.5% growth in its OP...

Farha Sabri

Sharp (6753) Reported to Guide for FY3/19 Profits 11% Above Consensus

The Nikkei Shimbun, a Japanese economic daily, reported today that Sharp came in with FY3/18 sales and OP slightly above consensus, but should...

SC Capital

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