Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

SK Hynix (000660KS, SKHY US) — 29 July Judgment Day: Q2 Preview and the Premium's Date with Gravity

SK Hynix (000660 KS): Investors Buy Leveraged ETFs Into Sharp Selloff

SK Hynix (000660 KS): Persistent Leveraged ETF Inflows Precede Tighter Rules

SK Hynix ADR: US$200bn Book, US$26.5bn Raised — Marking Our Calls to Market on Debut Day

SK Hynix Inc. (000660 KS / SKHY US) — Initiation

SK Hynix ADR: The TSMC Analogy Is Intellectually Lazy — Here Is What Actually Matters

Equity Bottom-Up

<ul>
<li>Record -15.4% KRX plunge and a 20-minute KOSPI circuit breaker Monday vs. a milder ~9% ADR decline in New York — the size of the gap is itself the story.</li>
<li>Drivers: post-listing profit-taking, leveraged-ETF unwind, one bearish brokerage note, KRX-ADR arbitrage still settling, and a Middle East-driven risk-off tape — not a demand shock.</li>
<li>Fair Value unchanged at KRW 3,500,000 / US$212 (Bullish): HBM remains sold out into 2027, pricing power intact, and the stock now screens at ~6.1x 2026E P/E.</li>
</ul>


Record -15.4% KRX plunge and a 20-minute KOSPI circuit breaker Monday vs. a milder ~9% ADR decline in New York — the size of the gap is itself the story.
Drivers: post-listing profit-taking, leveraged-ETF unwind, one bearish brokerage note, KRX-ADR arbitrage still settling, and a Middle East-driven risk-off tape — not a demand shock.
Fair Value unchanged at KRW 3,500,000 / US$212 (Bullish): HBM remains sold out into 2027, pricing power intact, and the stock now screens at ~6.1x 2026E P/E.


SK Hynix (000660 KS | SKHY US): Nosebleed Monday, Not a Bloodbath — Fundamentals Say Stay Bullish