Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

<p>In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to celebrate from the White House. In terms of updates, we collected news and snippets from NY Times and other publications about who the potential Trump cabinet could include in 2017. Honestly, the actual composition of the Cabinet is unlikely to have much impact on Thai equities, but <em>MCorp Review</em> has followed the US elections for so long it makes sense to go…</p>

In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to celebrate from the White House. In terms of updates, we collected news and snippets from NY Times and other publications about who the potential Trump cabinet could include in 2017. Honestly, the actual composition of the Cabinet is unlikely to have much impact on Thai equities, but MCorp Review has followed the US elections for so long it makes sense to go…

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.

<ul><li>Annualised volatility in the S&amp;P500 spiked to 27% in August, its highest level since November 2011. &nbsp;Nonetheless, the 6 month moving average of volatility of 14% remains broadly in line with historical trends over the sweep of the past 45 years.</li><li>The positive surprise on 2Q US real GDP concealed the five year long stall in nominal GDP growth.&nbsp; The US Federal Reserve&rsquo;s unwillingness to combat disinflation has contributed to the growth stall.&nbsp; Investors remain unnerved by the Fed&rsquo;s willingness to tighten monetary policy at a time when inflation continues to undershoot its 2% target.</li><li>I expect financial market volatility to remain high until the Fed more clearly enunciates the goals of monetary policy and why it remains indifferent to achieving its inflation target.</li><li>In Australia, the poor 2Q capex survey confirmed that the economy is on the precipice of a 20% slump in business investment in FY2015/16.&nbsp; The long and drawn out transition from mining to non-mining capex continues to weigh on growth and frustrate the RBA.&nbsp; In my view, the re-balancing of growth will need an assist from further monetary stimulus.</li></ul>

Annualised volatility in the S&amp;P500 spiked to 27% in August, its highest level since November 2011. &nbsp;Nonetheless, the 6 month moving average of volatility of 14% remains broadly in line with historical trends over the sweep of the past 45 years.The positive surprise on 2Q US real GDP concealed the five year long stall in nominal GDP growth.&nbsp; The US Federal Reserve&rsquo;s unwillingness to combat disinflation has contributed to the growth stall.&nbsp; Investors remain unnerved by the Fed&rsquo;s willingness to tighten monetary policy at a time when inflation continues to undershoot its 2% target.I expect financial market volatility to remain high until the Fed more clearly enunciates the goals of monetary policy and why it remains indifferent to achieving its inflation target.In Australia, the poor 2Q capex survey confirmed that the economy is on the precipice of a 20% slump in business investment in FY2015/16.&nbsp; The long and drawn out transition from mining to non-mining capex continues to weigh on growth and frustrate the RBA.&nbsp; In my view, the re-balancing of growth will need an assist from further monetary stimulus.

United States

Seaboard Corporation is a diversified international agribusiness and transportation company that primarily produces and processes domestic pork and ships cargo.  The Company also merchandises commodities, mills flour and feed, farms produce, produces sugar, and generates electric power overseas.

J & J Snack Foods Corp. manufactures, markets, and distributes a variety of snack foods and beverages for the food service and retail supermarket industries.  The Company's products include soft pretzels, frozen carbonated beverages, frozen juice bars and desserts, churros, funnel cakes, cookies, and bakery products.

The Simply Good Foods Company operates as an investment company. The Company invests in and expands snacks and food products businesses. Simply Good Foods serves customers in the States of Colorado and Connecticut.

TreeHouse Foods, Inc. is a food manufacturer servicing primarily the retail grocery and foodservice distribution channels. The Company's products include non-dairy powdered coffee creamer; canned soups, salad dressings and sauces; salsa and Mexican sauces; jams and pie fillings, pickles, and related products.

Tootsie Roll Industries, Inc. manufactures and sells candy.  The Company's products are sold under the Tootsie Roll, Tootsie Roll Pops, Child's Play, Charms, Blow Pop, Blue Razz, Cella's, Mason Dots, Mason Crows, Junior Mint, and other names.  Tootsie Roll's principal markets are in the United States, Canada, and Mexico.

Hostess Brands, Inc. provides packaged foods. The Company develops, manufactures, markets, sells and distributes baked sweet goods. Hostess Brands offers its products throughout the United States.

Flowers Foods, Inc. produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products, as well as pastries, doughnuts, and bakery snack products. Flowers Foods serves customers in the State of Georgia.

Lancaster Colony Corporation is a diversified manufacturer. The Company produces and markets consumer products with a focus on specialty food products for the retail and foodservice markets. Lancaster also manufactures and markets candles for the food, drug and mass markets.

Del Monte Pacific Limited produces and markets packaged vegetable and fruit, beverage and culinary products. The Group has the exclusive right to use the Del Monte brand for packaged products in the USA, South America, Philippines, the Indian subcontinent and Myanmar, and the S&W brand for both packaged and fresh products globally except Australia and New Zealand.

John B. Sanfilippo & Son, Inc. processes, packages, markets, and distributes shelled nuts, in-shell nuts, and sesame sticks.  The Company also markets and distributes a diverse product line of other food and snack items, including peanut butter, candy and confections, natural snacks and trail mixes, sunflower seeds, corn snacks, sesame sticks and other sesame snack products.

Nisshin Seifun Group Inc. produces and sells flour, fodder, processed foods, and medicines. The Company offers specialized pasta sauce, frozen foods, and gourmet soup. Nisshin Seifun Group also markets pet foods.

PT Indofood Sukses Makmur Tbk and its subsidiaries manufacture instant noodles, wheat flour, baby food, food seasonings, coffee, cooking oil, and snacks.

Golden Agri-Resources Limited cultivates, harvests, processes, distributes, and sells crude palm oil and palm kernel.  The Company also refines crude palm oil into cooking oil, margarine, and shortening for sale and distribution.

NICHIREI CORPORATION produces and distributes frozen food, ice, and meat products.  The Company also provides a variety of cold storage services, as well as manages leasing business for buildings and parking garages.

Hatsun Agro Products Limited manufactures skimmed milk powder, skimmed milk powd er blends, instant skimmed milk powder, whole milk powder, and full cream milk p owder.

Samyang Foods Co., Ltd. manufactures instant and processed food products, such as noodles, snacks, cooking oil, and feed.  The Company also produces dairy goods including milk, cheese, and ice cream.

Heilongjiang Agriculture Co., Ltd. plants, processes, and sells rice, soybean, wheat, corn, and other grain products.  The Company also produces fertilizers and sells paper products.

Kewpie Corporation mainly produces and sells mayonnaise, salad dressing, egg products, and health foods.  The Company also purchases and sells jam, sauce, canned and frozen foods.  Kewpie sells canned foods under Aohata brand.

QL Resources Berhad is an investment holding company. Through its subsidiaries, the Company manufactures and sells fishmeal, surimi, and surimi based products, distributes animal feed raw materials, animal health products, and layer farming, and cultivates oil palm and crude palm oil milling.

NH Foods Ltd. produces and sells ham, sausage, and processed meat products. The Company also breeds and raises cattle through its subsidiary. NH Foods owns a professional baseball team, the Nippon Ham Fighters.

Cal-Maine Foods, Inc. produces, cleans, grades, packs, and sells fresh shell eggs.  The Company markets its products in various states in the Southwestern, Southeastern, Midwestern, and Mid-Atlantic regions of the United States.

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Cal Maine Foods (CALM US)

5 Stock Picks for Santa Trump

In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to...

Athaporn Arayasantiparb, CFA

Weekly Impressions

Annualised volatility in the S&P500 spiked to 27% in August, its highest level since November 2011. Nonetheless, the 6 month moving average...

Sam Ferraro

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