Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Macroeconomics

<div>In a speech today, Christopher Kent, Assistant Governor, flagged that the RBA expects the speed of China's economic development to ease further, and for the composition of growth to evolve, reflecting four key developments.</div><ul>
<li>Slower growth of the working age population (which is largely baked in).</li>
<li>Urbanisation to continue albeit at a more gradual pace.</li>
<li>The still large productivity gap between China and advanced economies to narrow further, the speed of which is subject to the implementation of…</li>
</ul>

In a speech today, Christopher Kent, Assistant Governor, flagged that the RBA expects the speed of China's economic development to ease further, and for the composition of growth to evolve, reflecting four key developments.
Slower growth of the working age population (which is largely baked in).
Urbanisation to continue albeit at a more gradual pace.
The still large productivity gap between China and advanced economies to narrow further, the speed of which is subject to the implementation of…


Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

Failure of a tailings dam and damage to another at the 50%-&nbsp;owned Samarco iron ore mine in Brazil, in joint venture with&nbsp;Vale, is a disaster.The environmental mess and loss of life&nbsp;dents investor confidence at a time when sentiment for BHP&nbsp;Billiton is fragile as a result of falling commodity prices.Managing director Andrew Mackenzie has responded&nbsp;admirably in trying circumstances, promptly on the ground,&nbsp;offering sincere condolences and pledging BHP's full&nbsp;support in the recovery.That said, in no way do we put a&nbsp;positive spin on the event for BHP.Analysts: Mathew Hodge &amp; Mark Taylor

Failure of a tailings dam and damage to another at the 50%-&nbsp;owned Samarco iron ore mine in Brazil, in joint venture with&nbsp;Vale, is a disaster.The environmental mess and loss of life&nbsp;dents investor confidence at a time when sentiment for BHP&nbsp;Billiton is fragile as a result of falling commodity prices.Managing director Andrew Mackenzie has responded&nbsp;admirably in trying circumstances, promptly on the ground,&nbsp;offering sincere condolences and pledging BHP's full&nbsp;support in the recovery.That said, in no way do we put a&nbsp;positive spin on the event for BHP.Analysts: Mathew Hodge &amp; Mark Taylor

BHP Billiton's Exposure to Samarco Tailings Disaster

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

Mark and JP once again highlight the fault lines that run through what they consider to be the most vulnerable part of the listed Chinese corporate sector, namely the industrial and materials companies which are the most symptomatic of the broader economy.Whilst there are a number of indications that the rate of economic growth may pick up a little over the short term (property sales, land sales, consumption incentives, fiscal policy), these sectors are indicative of a deep malaise at the heart of the economy.We are especially concerned about the blow out in working capital and the ongoing deterioration in the efficacy of credit growth.&nbsp;

Mark and JP once again highlight the fault lines that run through what they consider to be the most vulnerable part of the listed Chinese corporate sector, namely the industrial and materials companies which are the most symptomatic of the broader economy.Whilst there are a number of indications that the rate of economic growth may pick up a little over the short term (property sales, land sales, consumption incentives, fiscal policy), these sectors are indicative of a deep malaise at the heart of the economy.We are especially concerned about the blow out in working capital and the ongoing deterioration in the efficacy of credit growth.&nbsp;

China: Short-term stabilization possible but underlying fault lines remain

iShares MSCI Global Min Vol Factor ETF / Equity Bottom-Up

<ul><li>The Best Ideas list is a compilation of stock ideas sourced from Morningstar&rsquo;s global equity research team.</li><li>With more than 100 analysts covering nearly 1,500 companies, we&rsquo;re able to provide a wide variety of what we believe are attractively priced securities looking across sectors, industries, and geographies.</li><li>Best Ideas are nominated by analysts and approved by managers in addition to the normal due diligence processes that precede our published research and ratings.</li><li>Pan Asian names are particularly focussed this month on the Gaming, Materials, Financials and Consumer Discretionary sectors.&nbsp;</li><li>Analysts: Michael Holt, CFA; Alex Morozov, CFA; Elizabeth Collins, CFA; Lorraine Tan CFA.</li><li>Full report below the fold. In addition subscribers will find in-depth notes and commentary published on several of these names easily available on the platform.</li></ul>

The Best Ideas list is a compilation of stock ideas sourced from Morningstar&rsquo;s global equity research team.With more than 100 analysts covering nearly 1,500 companies, we&rsquo;re able to provide a wide variety of what we believe are attractively priced securities looking across sectors, industries, and geographies.Best Ideas are nominated by analysts and approved by managers in addition to the normal due diligence processes that precede our published research and ratings.Pan Asian names are particularly focussed this month on the Gaming, Materials, Financials and Consumer Discretionary sectors.&nbsp;Analysts: Michael Holt, CFA; Alex Morozov, CFA; Elizabeth Collins, CFA; Lorraine Tan CFA.Full report below the fold. In addition subscribers will find in-depth notes and commentary published on several of these names easily available on the platform.

Thematic (Sector/Industry)

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a high-quality revision as the contribution from inventory expansion was now just 0.2% instead of 0.4%, meaning fewer goods were piling up on shelves.More than offsetting the downward inventory calculation was a large revision to consumer spending, primarily the services-related category.Consumer spending grew at a 3.6% rate in the second quarter, one of the best performances of this recovery and constituting almost two thirds of total GDP growth.Most of the construction-related categories were also revised higher.Analysts: Robert Johnson CFA &amp; Roland CzerniawskiFull report below the fold...&nbsp;

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a high-quality revision as the contribution from inventory expansion was now just 0.2% instead of 0.4%, meaning fewer goods were piling up on shelves.More than offsetting the downward inventory calculation was a large revision to consumer spending, primarily the services-related category.Consumer spending grew at a 3.6% rate in the second quarter, one of the best performances of this recovery and constituting almost two thirds of total GDP growth.Most of the construction-related categories were also revised higher.Analysts: Robert Johnson CFA &amp; Roland CzerniawskiFull report below the fold...&nbsp;

U.S. Economy Picks up the Pace: We're bumping up our 2015 GDP forecast

Australia

BHP Group Limited operates as a mining company.  The Companyengages in the exploration, development, production and processing of iron ore, metallurgical coal, and copper. BHP Group serves customers worldwide.

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BHP Group Ltd (BHP LN)

RBA Downbeat on Commodity Price Outlook

In a speech today, Christopher Kent, Assistant Governor, flagged that the RBA expects the speed of China's economic development to ease further,...

Sam Ferraro

BHP Billiton's Exposure to Samarco Tailings Disaster

Failure of a tailings dam and damage to another at the 50%- owned Samarco iron ore mine in Brazil, in joint venture with Vale, is a disaster.The...

Morningstar, Inc.

China: Short-term stabilization possible but underlying fault lines remain

Mark and JP once again highlight the fault lines that run through what they consider to be the most vulnerable part of the listed Chinese corporate...

John-Paul Smith

Morningstar: Global Equity Best Ideas

The Best Ideas list is a compilation of stock ideas sourced from Morningstar’s global equity research team. With more than 100 analysts covering...

Morningstar, Inc.

U.S. Economy Picks up the Pace: We're bumping up our 2015 GDP forecast

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a...

Morningstar, Inc.

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