Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

Since 2013 when the % of Buy recommendation to total hit a recently low of 43%, that percentage has slowly been inching upward to the current level of 50%. Over the same time, the % of Sell recommendation has fallen to a 10-year low of 6%. That means that 44% of recommendations are Hold, but that is a different story.<h2>TOPIX - % of BUY Recommendations to Total</h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/049/241/original/4.png?1523310567" class="editor-image img-responsive" data-smartkarma-image-id="49241"></figure>As you can see from the chart above, the % of Buy recommendations bottomed out during the GFC and rebound up to 56% in 2010. Since 2012 the…

Since 2013 when the % of Buy recommendation to total hit a recently low of 43%, that percentage has slowly been inching upward to the current level of 50%. Over the same time, the % of Sell recommendation has fallen to a 10-year low of 6%. That means that 44% of recommendations are Hold, but that is a different story.TOPIX - % of BUY Recommendations to TotalAs you can see from the chart above, the % of Buy recommendations bottomed out during the GFC and rebound up to 56% in 2010. Since 2012 the…

Half of Recommendations on TOPIX Companies Are BUY. Highest Since 2011....

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back over the last 9 years to identify companies that are always revising up and those that always revising down company guidance. We put together 3 screens. The first are companies that have revised up full-year company EPS guidance more than 60% of the time over the last 9 years. The biggest names that made the screen are  <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor Corp (7203 JP)</a>…

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back over the last 9 years to identify companies that are always revising up and those that always revising down company guidance. We put together 3 screens. The first are companies that have revised up full-year company EPS guidance more than 60% of the time over the last 9 years. The biggest names that made the screen are  Toyota Motor Corp (7203 JP)…

Which Companies Tend to Revise Company Guidance in January / February....

We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it to the 7-year average Beta. We then screened for names where current Beta is more than 1.5 standard deviations above the 7-year average.As you can see from the results below, a number of names have really moved away from their historical average. <a href="https://www.smartkarma.com/entities/6311" target="_blank" data-smartkarma-citation="entities:6311:1">Mitsubishi Tanabe Pharma (4508 JP)</a> and <a href="https://www.smartkarma.com/entities/794" target="_blank" data-smartkarma-citation="entities:794:1">Mitsubishi Motors Corp (7211 JP)</a> are both close to 3 standard…

We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it to the 7-year average Beta. We then screened for names where current Beta is more than 1.5 standard deviations above the 7-year average.As you can see from the results below, a number of names have really moved away from their historical average. Mitsubishi Tanabe Pharma (4508 JP) and Mitsubishi Motors Corp (7211 JP) are both close to 3 standard…

Large-Cap Names that Have Gotten a Lot More Volatile Recently....

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

• Pullback opportunities are prevalent in Europe and Japan. Both markets are testing key support levels, presenting attractive entry points. We see little reason to abandon our bullish outlooks for both markets... see page 2• Overweight Materials Sector. We highlight actionable names within the materials sector as global miners continue to emerge from base patterns, most of which still yield attractive entry points, including Vale (VALE) and Rio Tinto (RIO-GB)... see pages 3-5• Opportunities in China. This week we highlight attractive set-ups in China.  Highlighted charts range from Baidu (BIDU) and Bank of China (3988-HK) to Fosun (656-HK) and China Southern Airlines (1055-HK)... see pages 6-8

• Pullback opportunities are prevalent in Europe and Japan. Both markets are testing key support levels, presenting attractive entry points. We see little reason to abandon our bullish outlooks for both markets... see page 2• Overweight Materials Sector. We highlight actionable names within the materials sector as global miners continue to emerge from base patterns, most of which still yield attractive entry points, including Vale (VALE) and Rio Tinto (RIO-GB)... see pages 3-5• Opportunities in China. This week we highlight attractive set-ups in China.  Highlighted charts range from Baidu (BIDU) and Bank of China (3988-HK) to Fosun (656-HK) and China Southern Airlines (1055-HK)... see pages 6-8

EM Is Cementing Its Leadership Status; Buy Miners

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of opportunities in EM, Europe, and Japan.Emerging Markets: Breaking out to all-time highs, EM is unfolding as global leadership. Take advantage of pullbacks.Europe: Two words: pullback opportunity. For the past three months, Europe peeled back from the global advance, as prices diverged from bullish headlines. We view this as a welcomed event. Long-term technicals do confirm the improving headlines, but timing matters. And the STOXX 600’s test of the 200-day MA represents a timely entry point.  Just note, Europe is not a relative leader. That status belongs to EM (above).Japan: Japan represents an overlooked opportunity. With EM leading, and Europe crowding headlines, Japan is steadily emerging from a two-year base pattern, setting the stage for another leg higher

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of opportunities in EM, Europe, and Japan.Emerging Markets: Breaking out to all-time highs, EM is unfolding as global leadership. Take advantage of pullbacks.Europe: Two words: pullback opportunity. For the past three months, Europe peeled back from the global advance, as prices diverged from bullish headlines. We view this as a welcomed event. Long-term technicals do confirm the improving headlines, but timing matters. And the STOXX 600’s test of the 200-day MA represents a timely entry point.  Just note, Europe is not a relative leader. That status belongs to EM (above).Japan: Japan represents an overlooked opportunity. With EM leading, and Europe crowding headlines, Japan is steadily emerging from a two-year base pattern, setting the stage for another leg higher

Global Equity Strategy: Overweight EM, Pullback Opportunities in Europe, Japan Poised to Breakout

Japan

ASAHI KASEI CORPORATION produces synthetic fibers, industrial chemicals, petrochemicals, plastics (resins), and synthetic rubber.  The Company also operates and sells real estates, pharmaceuticals, medical equipments, electronics, construction materials, and consumer products.

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Asahi Kasei (3407 JP)

Half of Recommendations on TOPIX Companies Are BUY. Highest Since 2011....

Since 2013 when the % of Buy recommendation to total hit a recently low of 43%, that percentage has slowly been inching upward to the current level...

Custom Products Group

Which Companies Tend to Revise Company Guidance in January / February....

We are entering the period when Japanese company love to tweak their full-year guidance in front of the fiscal year-end in March. We looked back...

Custom Products Group

Large-Cap Names that Have Gotten a Lot More Volatile Recently....

We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it...

Custom Products Group

EM Is Cementing Its Leadership Status; Buy Miners

• Pullback opportunities are prevalent in Europe and Japan. Both markets are testing key support levels,presenting attractive entry points. We see...

Vermilion Research

Global Equity Strategy: Overweight EM, Pullback Opportunities in Europe, Japan Poised to Breakout

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of...

Vermilion Research

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