Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Taiwan Dual-Listings Monitor: TSMC Local Short Interest Approaching Highs; ASE Close to Parity

Taiwan Dual-Listings Monitor: TSMC Spread Rebounds Back to Recent Highs; ChipMOS Premium at Extreme

Taiwan Dual-Listings Monitor: TSMC Premium Rises Further, to Short Level; UMC Discount

Taiwan Tech Weekly: TSMC U.S. Bet Pays Off; UMC & Faraday Step Up Next; Latest Mobile Shipments Data

Taiwan Tech Weekly: Taiwan's Big Earnings Week and Apple's High-Stakes Shift to India

Taiwan Dual-Listings Monitor: TSMC ADR Short Interest New Highs; Chunghwa Telecom Short Spike

Delta Taiwan Vs. Thailand Monitor: Delta Thai Rally Looks Overdone; Taiwan Remains Better Value

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>
TSMC: +15% Premium; Trading Near Level to Go Long the ADR Spread</li>
<li>
UMC: -1.8% Discount; Also Near a Level to Go Long the Spread</li>
<li>
CHT: -2.2% Discount; Good Level to Go Long the Spread</li>
</ul>



TSMC: +15% Premium; Trading Near Level to Go Long the ADR Spread

UMC: -1.8% Discount; Also Near a Level to Go Long the Spread

CHT: -2.2% Discount; Good Level to Go Long the Spread


Taiwan Dual-Listings Monitor: Market Volatility Has Opened Up Multiple Spread Trading Levels