Global Equity Strategy: Constructive Outlook Intact, Bottoming Process Continues
We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist...
594 Views
TAL Education (TAL): Online Courses Improved Margin in 3Q19, Parents Returning, 44% Upside
We believe that parents of primary school children will bring their children back to tutoring schools when they become aware of the competition in...
509 Views
Can China’s Credit Easing Sequel 2019 Save Its Falling Economy?
Unsustainable Sentiment-Driven Multiple ExpansionsMarkets rallied on China’s credit easing starting in December and expect meaningful fiscal...
558 Views
New Oriental (EDU): Do Not Fear Q2 Record Losses, 27% Upside
The record net losses were mainly due to a seasonally weak quarter and recognition of the impairment in a subsidiary. Q2 revenues did not slow...
516 Views
Global Indexes Approaching Major Resistance
Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation...
693 Views