Research from Superfluous Value, Superfluous Value

Superfluous Value

Research from Superfluous Value

Stock selection has rarely been as important as it is today. After a roaring decade for US markets and with signs of mania everywhere, the S&P 500 as over-priced as it has ever been.

But, there is better way. Superfluous Value is a contrarian, deep-dive into the markets forgotten by the 60/40 instos and indexing, momentum chasers. Where the hot money has long moved on, it leaves behind investments offering great safety and prospective returns.

I believe the 2020s will look diametrically opposite to the recent past, with Emerging Markets, the UK, Japan and commodities set to rip and I intend to be holding the best opportunities available as they do.

Please feel free to come along on the journey.

Contrarian Deep-Dive into the Markets

Thematic (Sector/Industry)

<ul>
<li>Value investing is often described as running towards the fire or seeking out disaster.</li>
<li>Often, outstanding returns can be had as the market reverts from total capitulation, to merely bad.</li>
<li>In the case of Brazil today, an investor is paying capitulation pricing for prospects that are already better than merely bad.</li>
</ul>


Value investing is often described as running towards the fire or seeking out disaster.
Often, outstanding returns can be had as the market reverts from total capitulation, to merely bad.
In the case of Brazil today, an investor is paying capitulation pricing for prospects that are already better than merely bad.


Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<p>Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.</p>In this Insight:<ol><li><a href='/entities/nameson-holdings-ltd' target='_blank' rel='noopener'>Nameson Holdings</a></li><li><a href='/entities/sunny-optical-technology-group' target='_blank' rel='noopener'>Sunny Optical Technology Group</a></li><li><a href='/entities/genting-bhd' target='_blank' rel='noopener'>Genting Bhd</a></li><li><a href='/entities/shui-on-land-ltd' target='_blank' rel='noopener'>Shui On Land</a></li><li><a href='/entities/health-and-happiness-h-h-int' target='_blank' rel='noopener'>Health And Happiness (H&H)</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Nameson HoldingsSunny Optical Technology GroupGenting BhdShui On LandHealth And Happiness (H&H)and more...

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

Equity Bottom-Up

<ul>
<li>Recent events suggest change is en route at Anglo American plc.</li>
<li>A managerial shakeup is in full swing with "next generation" leadership emphasized.</li>
<li>Kio Kumba is pushing for a railway lease deal with the South African government.Investors must consider past and future impairment charges with caution.</li>
</ul>


Recent events suggest change is en route at Anglo American plc.
A managerial shakeup is in full swing with "next generation" leadership emphasized.
Kio Kumba is pushing for a railway lease deal with the South African government.Investors must consider past and future impairment charges with caution.


APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (1416286D IJ)</a> raised around US$714m in its Indonesian IPO.</li>
<li>Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.</li>
<li>In this note, we will talk about the trading dynamics and valuation.</li>
</ul>



Amman Mineral Internasional (1416286D IJ) raised around US$714m in its Indonesian IPO.
Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
In this note, we will talk about the trading dynamics and valuation.


Amman Mineral International IPO Trading - Looks Attractive with Ample Upside

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Quantitative Analysis

<ul>
<li>An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.</li>
<li>The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.</li>
<li>Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.</li>
</ul>


An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.
The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.
Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.


Brazil

Vale S.A. produces and sells iron ore, pellets, manganese, alloys, gold, nickel, copper, kaolin, bauxite, alumina, aluminum, and potash. The Company is based in Brazil, where it owns and operates railroads and maritime terminals.

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Vale (VALE US)

Brazilian Value: The Trade of the Decade

Value investing is often described as running towards the fire or seeking out disaster. Often, outstanding returns can be had as the market reverts...

Superfluous Value

Weekly Wrap - 21 Jul 2023

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Anglo American: Noteworthy Developments

Recent events suggest change is en route at Anglo American plc. A managerial shakeup is in full swing with "next generation" leadership...

Pearl Gray Equity and Research

Amman Mineral International IPO Trading - Looks Attractive with Ample Upside

Amman Mineral Internasional (1416286D IJ) raised around US$714m in its Indonesian IPO. In this note, we will talk about the trading dynamics and...

Ethan Aw

Screening for GEMs: July 2023

This insight provides an overview of our, machine learning-driven, proprietary GEM screening model, based on a Multifactor model, a Deep Neural...

Wium Malan, CFA

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