Systematic Ideas - Japan - Long SUMCO & MUFJ Financial - 27 Oct
New Longs: 3436 JT, 8306 JT
Ideas Review
The long in Advantest kicked in instantly. This is positive action today and suggests that this stock is likely to continue a strong period of outperformance from here. Despite today's move, we are buyers.
Resona has traded well and made a new high for the current move. Immediate resistance is coming up for next week but we suspect that it will take it out. A closing above 650 opens up a blue sky move.
Softbank has cleared all resistance and its a matter of time before the market begins to value the stock on its sum-of-the-parts.
Shorting is hard in this market but both Dentsu and Japan Post remain in weak positions with our systematic models. Use them to fund the longs.
SUMCO is a manufacturing company that is mainly engaged in the high-purity silicon business. Along with its subsidiaries, Co. is involved in the manufacture and sale of various silicon wafers for semiconductors, including polished wafers, epitaxial wafers and special wafers; the production and sale of wafers; and the provision of technical and sales marketing support services in overseas markets, including the U.S., the U.K., Indonesia, Singapore, Taiwan and South Korea. In addition, Co., through its subsidiaries, is engaged in the finance and personnel services in the U.S.
Deydun Markets
Deydun Markets, founded in 2010 and based in London, is a specialist quantamental research boutique. The client base includes institutional equity investors across the spectrum audience primarily from fundamentally driven long term investors to long / short high turnover hedge funds. Deydun covers all global markets through a macro lens as well as bottom up stock picking with the major overlay being the proprietary quantitative models that we have built over the years. The models are rebalanced to suit clients specific needs including quarterly, semi-annual and up to annual rebalance.
Deydun specialises in providing real-time securities recommendations including providing market timing advice and actionable short-only strategies. They use robust quantitative approaches to help isolate alpha for their clients. The systematic models attempt to be:
Right at the right time
- Avoid drawdowns
- Maximise diversification
The differentiated suite of empirical models that Deydun has developed adapt dynamically to mean reversion and momentum states.
The Deydun service is delivered through notes, “Key Thoughts”, that highlight new stock ideas and track the real-time performance of all the Live Book as well as those in the (unique) Flip Book when they have changed the side of the recommendation. These prove outstanding records of divining alpha in very liquid global equities. The models typically achieve 15% to 35% CAGRs in blind forward and real time proofing over one to two business cycles.
Deydun endeavours to provide each client with independent and relevant ideas and transparently track all their calls. Tier one clients receive a bespoke portfolio service and often share their positions to enhance the impact of the Deydun service.
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