In this quarterly strategy report, we look to evaluate where we are with regards the bull market conditions, and where those indicators might be headed, factoring in the downside risks, from Trump tariffs and the US economy, BoJ actions, Japanese earnings and valuations.
When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to...
Increased purchasing power of their customers is a big positive for online firms because of scaling. Unlike eCommerce companies, which usually only scale at the SG&A level, online services companies like Kakaku.com can scale at both the CoGS and SG&A level if they have the right product. Pelham Smithers thinks that Kakaku.com is proving that it does.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The independent financial analyst theScreener just requalified the general evaluation of KAKAKU.COM (JP), active in the Internet industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date July 27, 2021, the closing price...
Health Care outperforming globally -- overweight; India breaking out -- add exposure With the primary global ex-U.S. indexes MSCI EAFE, MSCI EM, and MSCI ACWI ex-U.S. continuing their sideways to downward consolidation from a price perspective, the importance of Sector, Group, and stock selection is critical. • Sector and Group Opportunities. Today we put the spotlight on the Health Care Sector, which is assuming a global leadership role as it separates itself from the other international Se...
Japan Market Comment by Pelham Smithers, Julie Boote and Joel Scheiman Nikkei ¥21,042.09 (-¥139.55 / -0.66%); Topix ¥1,694.79 (-¥13.55 / -0.79%); ¥/$105.56 Tags: Sony (6758 JP), Fast Retailing (9983 JP), United Arrows (7606 JP), DyDo Group Holdings (2590 JP), Kakaku.com (2371 JP), KLab (3656 JP), Capcom (9697 JP), SBI Holdings (8473 JP), GMO Internet (9449 JP), Woori Bank (000030 KS), SBI Ripple Asia, Cambridge Global Payments, FleetCor Technologies (FLT US), Western Union (WU US), Fujit...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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