Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Equity Bottom-Up

iShares MSCI Australia / Equity Bottom-Up

<ul><li>In May, I published a report citing recent journal literature that sought to decompose Buffett&rsquo;s Alpha.&nbsp; The authors attribute Warren Buffett&rsquo;s long track record of strong returns not to luck but to reward for leveraged exposure to safe or low beta, quality stocks that are cheap.&nbsp; I applied these principles to the ASX200 stocks and constructed long and short portfolios of around ten stocks each.</li><li>Given the passage of over six months since the initial&nbsp;report was published, this note is designed to report on the performance of the two portfolios as well as expand and update Mr Buffett&rsquo;s investment methodology as applied to the ASX200 stocks.&nbsp;&nbsp;The strategy has been impressive,&nbsp;with the long portfolio yielding an equal weighted return of around 3%, well above the ASX200 (-10%) and short portfolio (-20%).&nbsp; Thus the strategy has produced a long-short return of +23%.</li><li>Evidente has made a number of enhancements to the methodology, including the addition of a market sentiment measure to assist with market timing.&nbsp; The updated&nbsp;long portfolio represents a diverse mix of sectors while energy stocks&nbsp;are still&nbsp;dominate&nbsp;the short portfolio.&nbsp; Thus the key macro risk for the shorts&nbsp;is&nbsp;the prospect of renewed strength in&nbsp;global oil prices in 2016.&nbsp;&nbsp;</li></ul>

In May, I published a report citing recent journal literature that sought to decompose Buffett&rsquo;s Alpha.&nbsp; The authors attribute Warren Buffett&rsquo;s long track record of strong returns not to luck but to reward for leveraged exposure to safe or low beta, quality stocks that are cheap.&nbsp; I applied these principles to the ASX200 stocks and constructed long and short portfolios of around ten stocks each.Given the passage of over six months since the initial&nbsp;report was published, this note is designed to report on the performance of the two portfolios as well as expand and update Mr Buffett&rsquo;s investment methodology as applied to the ASX200 stocks.&nbsp;&nbsp;The strategy has been impressive,&nbsp;with the long portfolio yielding an equal weighted return of around 3%, well above the ASX200 (-10%) and short portfolio (-20%).&nbsp; Thus the strategy has produced a long-short return of +23%.Evidente has made a number of enhancements to the methodology, including the addition of a market sentiment measure to assist with market timing.&nbsp; The updated&nbsp;long portfolio represents a diverse mix of sectors while energy stocks&nbsp;are still&nbsp;dominate&nbsp;the short portfolio.&nbsp; Thus the key macro risk for the shorts&nbsp;is&nbsp;the prospect of renewed strength in&nbsp;global oil prices in 2016.&nbsp;&nbsp;

Lifting The Lid On Warren Buffett's Investment Secrets (Update)

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

Event-Driven

Less than three months after swallowing Amcom, Vocus Communications has turned its attention on M2 Group in an all-scrip merger.While we are always wary of any transaction trumpeting the combined size as a key rationale, the deal has clear strategic merit, as the industry enters the National Broadband Network, or NBN, era.M2 Group provides a range of broadband, mobile, fixed-voice and energy services via multiple brands, including Dodo, iPrimus and Commander.M2 is primarily a reseller, aiming to increase customer spend by leveraging brand awareness and offering bundled services.It is a strong cash flow generator, with relatively low ongoing capital expenditure requirements reflecting an infrastructure-light business model.By subscribers, M2 is Australia's fourth-largest Internet service provider, or ISP, with 8% market share.M2 only recently became a major residential ISP, acquiring Dodo and iPrimus in the 12-month period to mid-2013.Larger operators such as TPG Telecom retain scale, brand and network advantage in our viewAnalysts: David Mueller &amp; Farina ParsonsFull report below the fold....&nbsp;

Less than three months after swallowing Amcom, Vocus Communications has turned its attention on M2 Group in an all-scrip merger.While we are always wary of any transaction trumpeting the combined size as a key rationale, the deal has clear strategic merit, as the industry enters the National Broadband Network, or NBN, era.M2 Group provides a range of broadband, mobile, fixed-voice and energy services via multiple brands, including Dodo, iPrimus and Commander.M2 is primarily a reseller, aiming to increase customer spend by leveraging brand awareness and offering bundled services.It is a strong cash flow generator, with relatively low ongoing capital expenditure requirements reflecting an infrastructure-light business model.By subscribers, M2 is Australia's fourth-largest Internet service provider, or ISP, with 8% market share.M2 only recently became a major residential ISP, acquiring Dodo and iPrimus in the 12-month period to mid-2013.Larger operators such as TPG Telecom retain scale, brand and network advantage in our viewAnalysts: David Mueller &amp; Farina ParsonsFull report below the fold....&nbsp;

Pacman Meets Pacman, as M2 Group Merges with Vocus Communications

New Zealand

Spark New Zealand Limited (formerly Telecom Corporation of New Zealand Limited) is a digital services provider for communications, entertainment and IT services over its networks and the Cloud to New Zealanders and businesses. The Company's strategy is focused on customer experiences, mobility and data.

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Spark New Zealand (SPK AU)

Lifting The Lid On Warren Buffett's Investment Secrets (Update)

In May, I published a report citing recent journal literature that sought to decompose Buffett’s Alpha. The authors attribute Warren Buffett’s...

Sam Ferraro

Pacman Meets Pacman, as M2 Group Merges with Vocus Communications

Less than three months after swallowing Amcom, Vocus Communications has turned its attention on M2 Group in an all-scrip merger.While we are always...

Morningstar, Inc.

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