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The song remains the same

As we enter Q2, one considers the recent past and peers into the near future. This model portfolio review process is always interesting – it is where the rubber meets the road so to speak. That suggests some good potential upside. A ytd correlation a...
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 12 April 2021
The song remains the same
The song remains the same

Sharp Left! Rule change makes US politics more partisan, despite centrist Biden

Several clients have recently asked me versions of this question, so I thought that I should answer it for everyone. The threat of a filibuster could now stop business without Thurmondesque exertions. Many in the Democratic Party would like to elimin...
Tellimer Research Paul
Paul Domjan @ Tellimer Research 10 April 2021
Sharp Left! Rule change makes US politics more partisan, despite centrist Biden
Sharp Left! Rule change makes US politics more partisan, despite centrist Biden

EM e-commerce stars vulnerable in Bill Hwang block trade sell-off

On Friday, US-based Archegos Capital reportedly dumped shares in nine stocks (worth US$20bn) to meet margin calls (demands for cash) from its prime brokers. There are reasons to fear that the block trade frenzy could affect the market in general and ...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 29 March 2021
EM e-commerce stars vulnerable in Bill Hwang block trade sell-off
EM e-commerce stars vulnerable in Bill Hwang block trade sell-off

North Korea tests Biden administration

North Korea test-fired two missiles on Sunday, according to reports that only came out in recent days, although the US confirmed the test of a short-range system did not appear to violate the UN ban on ballistic missile launches. North Korea also lau...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 25 March 2021
North Korea tests Biden administration
North Korea tests Biden administration

China and US trade sanctions and jibes on their path to decoupling

The Biden administration is doing what was expected of it on China: adopting a confrontational approach, referencing human rights, and rebuilding relations with international allies with military presence near China (the "Quad" partners Australia, Ja...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 24 March 2021
China and US trade sanctions and jibes on their path to decoupling
China and US trade sanctions and jibes on their path to decoupling

Jumia: Africa's Amazon will surge on US$400mn issue

Yesterday, Jumia (JMIA US) issued 9M American Depositary Shares (ADS) raising US$400mn. This would dilute existing shareholders by 9%. We expect FCF loss to average US$713mn in FY 21-24. Jumia has also withdrawn from four African markets. The pivot i...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 19 March 2021
Jumia: Africa's Amazon will surge on US$400mn issue
Jumia: Africa's Amazon will surge on US$400mn issue