Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>We discuss an emerging concern in the global financial markets which is that many high-profile PE owned companies around the world are increasingly experiencing bankruptcies or near bankruptcies.</li>
<li>The excessive leverage that MBK has tried to use on Homeplus has backfired due to higher interest rates, greater competition from Emart/Coupang, COVID-19, and lower buying power from asset sales.</li>
<li>Although it may be premature to declare these bankruptcies/near-bankruptcies to be a prelude to the next Big Short 2, they indeed raise so many alarming bells.</li>
</ul>


We discuss an emerging concern in the global financial markets which is that many high-profile PE owned companies around the world are increasingly experiencing bankruptcies or near bankruptcies.
The excessive leverage that MBK has tried to use on Homeplus has backfired due to higher interest rates, greater competition from Emart/Coupang, COVID-19, and lower buying power from asset sales.
Although it may be premature to declare these bankruptcies/near-bankruptcies to be a prelude to the next Big Short 2, they indeed raise so many alarming bells.


Collapse of Homeplus & More Bankruptcies of PE Owned Companies Globally [A Prelude to Big Short II?]

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

<ul><li>Market volatility continues, with futures down across the board</li><li>Atlanta Fed's GDP nowcast turns negative for the first time since 2022</li><li>Winners in the market so far this year include gold, European stocks, and bonds</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Market volatility continues, with futures down across the boardAtlanta Fed's GDP nowcast turns negative for the first time since 2022Winners in the market so far this year include gold, European stocks, and bondsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Volatility, Tariffs, and a Potential Recession: Breaking Down Macro Chaos | The New Barbarians #011

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>Math / In Depth: Tsinghua program shows the challenges of nurturing world-class mathematicians</li><li>Consumption /: Chinese consumers are more confident and willing to spend, survey shows</li><li>EVs /: Tariff turmoil roils Chinese electric-bus maker’s Mexico plans</li></ul>

Math / In Depth: Tsinghua program shows the challenges of nurturing world-class mathematiciansConsumption /: Chinese consumers are more confident and willing to spend, survey showsEVs /: Tariff turmoil roils Chinese electric-bus maker’s Mexico plans

CX Daily: Tsinghua Program Shows the Challenges of Nurturing World-Class Mathematicians 

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

<ul>
<li>The USD is moderating, not just against developed market currencies, but also against Asian currencies. Usually, Asian currency revival is a lead indicator of acceleration of FII flows in Asia. </li>
<li>Our analysis of cumulative FII sales as proportion of market cap shows that Korea and Indonesia are oversold. India is almost there, but not quite. HK/China is still under-owned. </li>
<li>Taiwan and Thailand, despite large FII selling over an extended period, are still not oversold. Both markets face risks from the tariff war and could face more FII selling pressure.</li>
</ul>


The USD is moderating, not just against developed market currencies, but also against Asian currencies. Usually, Asian currency revival is a lead indicator of acceleration of FII flows in Asia. 
Our analysis of cumulative FII sales as proportion of market cap shows that Korea and Indonesia are oversold. India is almost there, but not quite. HK/China is still under-owned. 
Taiwan and Thailand, despite large FII selling over an extended period, are still not oversold. Both markets face risks from the tariff war and could face more FII selling pressure.


Asian Equities: The Currency Tailwind - Where Would FII Flows Gravitate?

<ul><li>Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projects</li><li>China-Japan /: Japan’s Ambassador to China sees a lot potential for economic cooperation</li><li>Stocks /: Foreign investor enthusiasm for Chinese stocks is on the up</li></ul>

Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projectsChina-Japan /: Japan’s Ambassador to China sees a lot potential for economic cooperationStocks /: Foreign investor enthusiasm for Chinese stocks is on the up

CX Daily: China’s Soaring Overland Trade Accelerates Cross-Border Rail Projects 

Cross Asset Strategy
Cross Asset Strategy Insights

Collapse of Homeplus & More Bankruptcies of PE Owned Companies Globally [A Prelude to Big Short II?]

The excessive leverage that MBK has tried to use on Homeplus has backfired due to higher interest rates, greater competition from Emart/Coupang,...

Douglas Kim

Volatility, Tariffs, and a Potential Recession: Breaking Down Macro Chaos | The New Barbarians #011

Please check out our Podcast! We are always interested in feedback so let us know if there are any topics you would like us to cover. Please also...

William Mann

CX Daily: Tsinghua Program Shows the Challenges of Nurturing World-Class Mathematicians

Math / In Depth: Tsinghua program shows the challenges of nurturing world-class mathematicians The Yau Mathematical Sciences Leaders...

Caixin Global

Asian Equities: The Currency Tailwind - Where Would FII Flows Gravitate?

USD is moderating vs Asian currencies, usually a lead indicator of FII flow revival. HK/CN still under-owned. Korea & Indo oversold, India almost...

Manishi Raychaudhuri

CX Daily: China’s Soaring Overland Trade Accelerates Cross-Border Rail Projects

TOP STORIES Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projects Cross-border railway projects connecting...

Caixin Global

Collapse of Homeplus & More Bankruptcies of PE Owned Companies Globally [A Prelude to Big Short II?]

The excessive leverage that MBK has tried to use on Homeplus has backfired due to higher interest rates, greater competition from Emart/Coupang,...

Douglas Kim

Volatility, Tariffs, and a Potential Recession: Breaking Down Macro Chaos | The New Barbarians #011

Please check out our Podcast! We are always interested in feedback so let us know if there are any topics you would like us to cover. Please also...

William Mann

CX Daily: Tsinghua Program Shows the Challenges of Nurturing World-Class Mathematicians

Math / In Depth: Tsinghua program shows the challenges of nurturing world-class mathematicians The Yau Mathematical Sciences Leaders...

Caixin Global

Asian Equities: The Currency Tailwind - Where Would FII Flows Gravitate?

​USD is moderating vs Asian currencies, usually a lead indicator of FII flow revival. HK/CN still under-owned. Korea & Indo oversold, India almost...

Manishi Raychaudhuri

CX Daily: China’s Soaring Overland Trade Accelerates Cross-Border Rail Projects

TOP STORIES Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projects Cross-border railway projects connecting...

Caixin Global

USD is moderating vs Asian currencies, usually a lead indicator of FII flow revival. HK/CN still under-owned. Korea & Indo oversold, India almost...