Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Thematic (Sector/Industry)

Headline Developments Nassim Taleb, the celebrated Black Swan author and mathematician, has published a paper trashing bitcoin.  In the paper (excerpts below), Taleb claims the theoretical value of bitcoin is zero, saying it is not a currency, can be neither a short or long term store of value, cannot operate as a reliable inflation hedge and, “worst of all”, does not constitute “not even remotely” a tail protection vehicle for catastrophic episodes (i.

Headline Developments Nassim Taleb, the celebrated Black Swan author and mathematician, has published a paper trashing bitcoin.  In the paper (excerpts below), Taleb claims the theoretical value of bitcoin is zero, saying it is not a currency, can be neither a short or long term store of value, cannot operate as a reliable inflation hedge and, “worst of all”, does not constitute “not even remotely” a tail protection vehicle for catastrophic episodes (i.

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPL<div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  </div>

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPLObex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  

Headline Developments SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit - the first launch with a reused rocket.  The launch of the GPS III SV05 for Space Force (below) will take place using the same Falcon 9 rocket booster that launched GPS III SV04 last November.

Headline Developments SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit - the first launch with a reused rocket.  The launch of the GPS III SV05 for Space Force (below) will take place using the same Falcon 9 rocket booster that launched GPS III SV04 last November.

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<a href="https://www.smartkarma.com/entities/mercadolibre-inc" target="_blank" data-smartkarma-citation="entities:27954:1" rel="noopener">MercadoLibre Inc (MELI US)</a> is the most widely held stock in the South American region among active Global managers. Though the majority of funds hold less than 1% in <a href="https://www.smartkarma.com/entities/mercadolibre-inc" target="_blank" data-smartkarma-citation="entities:27954:1" rel="noopener">MercadoLibre Inc (MELI US)</a> , there are those who hold significantly more, led by Loomis Sayles Global Growth (5.34%) and MFAM Global Opportunities (5.23%).  The trajectory of ownership growth is tracking a similar path to stocks such as <a href="https://www.smartkarma.com/entities/facebook-inc-a" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Facebook Inc A (FB US)</a> , <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> and <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US),</a> who were at a similar point to <a href="https://www.smartkarma.com/entities/mercadolibre-inc" target="_blank" data-smartkarma-citation="entities:27954:1" rel="noopener">MercadoLibre Inc (MELI US)</a> some 5-6 years ago.  If the path of returns follows any one of those 3 stocks, then <a href="https://www.smartkarma.com/entities/mercadolibre-inc" target="_blank" data-smartkarma-citation="entities:27954:1" rel="noopener">MercadoLibre Inc (MELI US)</a> is one to hold.Taken from our Global fund research, covering 378 strategies with AUM of $1.1tr.

MercadoLibre Inc (MELI US) is the most widely held stock in the South American region among active Global managers. Though the majority of funds hold less than 1% in MercadoLibre Inc (MELI US) , there are those who hold significantly more, led by Loomis Sayles Global Growth (5.34%) and MFAM Global Opportunities (5.23%).  The trajectory of ownership growth is tracking a similar path to stocks such as Facebook Inc A (FB US) , Tencent (700 HK) and Alibaba Group (BABA US), who were at a similar point to MercadoLibre Inc (MELI US) some 5-6 years ago.  If the path of returns follows any one of those 3 stocks, then MercadoLibre Inc (MELI US) is one to hold.Taken from our Global fund research, covering 378 strategies with AUM of $1.1tr.

MercadoLibre:  The Jewel in the Latam Crown

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic (private) to add 15 of their $200m jets to the fleet, with the option of adding an additional 35, after certain safety, sustainability and operating metrics are met.

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic (private) to add 15 of their $200m jets to the fleet, with the option of adding an additional 35, after certain safety, sustainability and operating metrics are met.

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

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Meta Platforms (Facebook) (META US)

Weekly Innovation Review (WIRE) #37

Nassim Taleb, the celebrated Black Swan author and mathematician, has published a paper trashing bitcoin. In the paper, Taleb claims the...

Granite Bay Capital

TMT Weekly: FAANG Rankings from Here

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here?...

Aaron Gabin

Weekly Innovation Review (WIRE) #36

Headline Developments: SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit.

Granite Bay Capital

MercadoLibre: The Jewel in the Latam Crown

MercadoLibre is the most widely held stock in the South American region among active Global managers. Ownership growth has been strong, but...

Steven Holden

Weekly Innovation Review (WIRE) #35

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic

Granite Bay Capital

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