Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
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More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

As early as January of last year, I suggested that notwithstanding his stated admiration for Russia’s leadership, President Trump would eventually be forced to take a harder line than his predecessor against Russia, writing that ‘ the incoming US administration is more likely to impose stricter sanctions against Russia than to repeal them’ - this at a time when commentators on Russia were universally predicting that a more emollient approach from the new president compared with his predecessor…

As early as January of last year, I suggested that notwithstanding his stated admiration for Russia’s leadership, President Trump would eventually be forced to take a harder line than his predecessor against Russia, writing that ‘ the incoming US administration is more likely to impose stricter sanctions against Russia than to repeal them’ - this at a time when commentators on Russia were universally predicting that a more emollient approach from the new president compared with his predecessor…

Russia: The Valuation/Governance Trade-Off Has Become Even More Binary

Materials, IPO & Equity Analyst

Venkat Ramana Nandyal

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Commodities

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We believe there will be winners (Mostly US commodity producers) and losers (commodity producers in some countries and all direct and indirect consumers of the commodity). In the last few weeks, the Trump administration had embarked on subjecting imported steel and aluminum to a tariff of 25% and 10% respectively. This was followed last week by the…

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We believe there will be winners (Mostly US commodity producers) and losers (commodity producers in some countries and all direct and indirect consumers of the commodity). In the last few weeks, the Trump administration had embarked on subjecting imported steel and aluminum to a tariff of 25% and 10% respectively. This was followed last week by the…

Trade and Diplomatic War Perks up Aluminum Prices

Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Thematic (Sector/Industry)

* Sanctions Continue: All assets of the sanctioned individuals and companies in the US will be frozen while US individuals will be required to divest and transfer all debt, equity and other holdings – while all contracts and liabilities in relation to business will need to be closed. Reports of a chemical attack in Syria only heighten concern for additional sanctions.* Sberbank and Rusal Story:  Sberbank’s shares have taken an unrealistic hit on the back of its Rusal exposure  - a company which…

* Sanctions Continue: All assets of the sanctioned individuals and companies in the US will be frozen while US individuals will be required to divest and transfer all debt, equity and other holdings – while all contracts and liabilities in relation to business will need to be closed. Reports of a chemical attack in Syria only heighten concern for additional sanctions.* Sberbank and Rusal Story:  Sberbank’s shares have taken an unrealistic hit on the back of its Rusal exposure  - a company which…

Russia & Sberbank – Likely An Unrealistic Hit

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

<ul>
<li>The announcement of US tariffs of 25% on Steel and 10% on Aluminum imports into the US has caught numerous allies in the crossfire.</li>
<li>Mexico and Canada are specifically excluded from the tariffs for now and Australia has been discussed as potentially being spared.</li>
<li>The US is a major consumer of steel and also the 4th largest producer in the world.</li>
<li>The global market for aluminum is diverse and growing. The US accounted for only 5.3% of global demand in 2015.</li>
<li>Major US allies to be hurt by these tariffs…</li>
</ul>


The announcement of US tariffs of 25% on Steel and 10% on Aluminum imports into the US has caught numerous allies in the crossfire.
Mexico and Canada are specifically excluded from the tariffs for now and Australia has been discussed as potentially being spared.
The US is a major consumer of steel and also the 4th largest producer in the world.
The global market for aluminum is diverse and growing. The US accounted for only 5.3% of global demand in 2015.
Major US allies to be hurt by these tariffs…


Trump Trade War Catches Many US Allies and Emerging Markets in the Crossfire

Information Technology Consultant

Ishita Jain

As per the Financial Times ("FT") <a href="https://www.ft.com/content/4f88cb60-f8f7-11e6-bd4e-68d53499ed71" target="_blank">article</a> dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to secure supplies of Cobalt. This has been driven by the fact the a handful of hedge funds have purchased and stored Cobalt on expectations that the demand for EVs will pick up. Battery producers such as Panasonic, who supply Lithium Ion ("Li-ion") batteries to the likes of Tesla are hard pressed for supplies. As FT reported, prices have risen by more…

As per the Financial Times ("FT") article dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to secure supplies of Cobalt.   This has been driven by the fact the a handful of hedge funds have purchased and stored Cobalt on expectations that the demand for EVs will pick up. Battery producers such as Panasonic, who supply Lithium Ion ("Li-ion") batteries to the likes of Tesla are hard pressed for supplies.  As FT reported, prices have risen by more…

Russia

United Co RUSAL PLC is a primary aluminium producer. The Company's main products are primary aluminium (including alloys and value-added products, such as aluminium sheet ingots and aluminium billet), aluminium foil and packaging products.

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United Co Rusal (486 HK)

Russia: The Valuation/Governance Trade-Off Has Become Even More Binary

As early as January of last year, I suggested that notwithstanding his stated admiration for Russia’s leadership, President Trump would eventually...

John-Paul Smith

Trade and Diplomatic War Perks up Aluminum Prices

Grab a beer whilst it is still cheap; we expect consumers of steel and aluminum to pay a higher price because of trade and diplomatic wars. We...

Venkat Ramana Nandyal

Russia & Sberbank – Likely An Unrealistic Hit

* Sanctions Continue: All assets of the sanctioned individuals and companies in the US will be frozen while US individuals will be required to...

Thomas J. Monaco

Trump Trade War Catches Many US Allies and Emerging Markets in the Crossfire

The announcement of US tariffs of 25% on Steel and 10% on Aluminum imports into the US has caught numerous allies in the crossfire. Mexico and...

David Riedel

Future of Cobalt Vis-A-Vis EVs

As per the Financial Times ("FT") article dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to...

Ishita Jain

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