SMTH Seeks Higher Margin Assets to Offset Rising Pressures from Higher Costs of Dollar Funding
We raise our fair value estimate for Sumitomo Mitsui Trust Holdings, or SMTH, to JPY 4,300 per share, from JPY 3,600 per share previously due to...
342 Views
Consensus Rethinks Japan, as Serial Extrapolation Proves Costly
We saw consensus ‘groupthink’ reach new levels in 2016, exacerbated by surging AUM managed in trend following style. Extrapolation remains the...
270 Views
Why Hold Japan, Part II: Comparative Valuation Among G7 Economies
"Why Hold Japan?" is a question that recurs among foreign investors, now the greatest cohort of investors in Japanese stocks. The question tends...
330 Views
Nine STI Stocks See Volume Surge in Early Week
§ As many as 9 STI Stocks have traded more than double their three month daily average volume in trading sessions for the early week of 21...
306 Views
Reflation Trade Overshooting, as Eurozone Political Tail Risk Revives - 17th Nov 2016
Gold miners have crashed about a third since the August 25th note warning they were vulnerable to real yields (with which gold inversely...
378 Views