Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>A review of recent events/data impacting our investment themes and outlook.</li>
<li>No sign yet of a reversal in US government bonds and the dollar.</li>
<li>Brent Oil still above $100 despite exports moving back to pre-war levels</li>
</ul>


A review of recent events/data impacting our investment themes and outlook.
No sign yet of a reversal in US government bonds and the dollar.
Brent Oil still above $100 despite exports moving back to pre-war levels


Equity Bottom-Up

Mitsui Kinzoku Company / Equity Bottom-Up

Mitsui Kinzoku Company, Limited provides fabricated metal materials. The Company manufactures non-ferrous metal such as aluminum and copper alloys, as well as produces transformable products, electronic materials, industrial chemicals, and automobile parts. Mitsui Kinzoku serves customers worldwide.

<ul>
<li>An AI bottleneck that has handed back most of its gains and is now regaining momentum</li>
<li>Of the two main products, one has no real competitor at the leading edge, and the other has a moat that holds for at least two more years.</li>
<li>It also contains a metals kicker that is still to come – if you believe gold/silver/copper move up from here.</li>
</ul>


An AI bottleneck that has handed back most of its gains and is now regaining momentum
Of the two main products, one has no real competitor at the leading edge, and the other has a moat that holds for at least two more years.
It also contains a metals kicker that is still to come – if you believe gold/silver/copper move up from here.


Tactical Trading – 5706.T - The Copper Foil in Every AI Server

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>As US rate hikes are pushed out, the long end of the bond market continues to weaken</li>
<li>October should provide the resolution as to whether the market catches up or catches down</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
As US rate hikes are pushed out, the long end of the bond market continues to weaken
October should provide the resolution as to whether the market catches up or catches down


Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Global Bond Yields and the Dollar continue their move higher</li>
<li>Nasdaq prints new highs while weakness lurks beneath the surface</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Global Bond Yields and the Dollar continue their move higher
Nasdaq prints new highs while weakness lurks beneath the surface


Overview #79 — Dragged Up or Dragged Down

China Oilfield Services / Equity Bottom-Up

China Oilfield Services is a leading integrated oilfield services provider, offering geophysical, drilling, well, and marine and transportation services. These services cover the exploration, development, and production phases of the oil and gas industry, including seismic data acquisition, drilling rig operations, and well completion. The company is headquartered in Sanhe, Hebei Province, China, and was founded in 2001.

<ul>
<li>A capital cycle story with minimal supply coming online but booming demand in the pipeline</li>
<li>Consolidation in the industry leading to better pricing not more supply</li>
<li>COSL's recent results show a marked improvement in the international business masked by FX translation losses</li>
</ul>


A capital cycle story with minimal supply coming online but booming demand in the pipeline
Consolidation in the industry leading to better pricing not more supply
COSL's recent results show a marked improvement in the international business masked by FX translation losses


China Oilfield Services - The Capital Cycle Meets a Hundred-Dollar Oil Price

Experienced PM in Asia-focused, long-short, equity hedge funds. Top-down macro overview  generating investment themes and ideas, before moving to sector and stock selection.
The analysis of macro themes can inform your own macro strategy and/or provide a backdrop for your own stock specific research.
All information is from publicly available sources and ideas are based on our own views and analysis.