Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

The business is clearly getting better, and should continue to improve over the next few years. The question now is how much is in the price. The shares are now on 1.4x book and on about 13x next year’s earnings, assuming the consensus operating profit of Y66bn (+10%) is about right (which we do). A year ago this consensus stood at Y73bn and has come gradually down as Olympic demand domestically has not fed through as fast as hoped and China has proved worse. Going forward, a rising coal price…

The business is clearly getting better, and should continue to improve over the next few years. The question now is how much is in the price. The shares are now on 1.4x book and on about 13x next year’s earnings, assuming the consensus operating profit of Y66bn (+10%) is about right (which we do). A year ago this consensus stood at Y73bn and has come gradually down as Olympic demand domestically has not fed through as fast as hoped and China has proved worse. Going forward, a rising coal price…

Business Is Clearly Improving but Given the Recent Move and Valuation, We Would Not Rush to Buy.

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcast<div>We have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…</div>

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…

USD/JPY Macro Low and Fresh Position Webcast

Japan

TAIHEIYO CEMENT CORPORATION manufactures cement and industrial materials such as limestone.  The Company also operates real estate, waste management (zero emission promotion), and transportation businesses. Taiheiyo Cement operates in Japan, China, and the United States.

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Taiheiyo Cement (5233 JP)

Business Is Clearly Improving but Given the Recent Move and Valuation, We Would Not Rush to Buy.

The business is clearly getting better, and should continue to improve over the next few years. The question now is how much is in the price. The...

Pearl Hill Advisors

USD/JPY Macro Low and Fresh Position Webcast

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke...

Thomas Schroeder

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52-week Range

Market Cap (USDm)

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