Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

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<a href="https://www.smartkarma.com/entities/nikola-corp" target="_blank" data-smartkarma-citation="entities:29029:1" rel="noopener">Nikola Corp (NKLA US)</a> ousted <a href="https://www.bloomberg.com/news/articles/2021-07-29/nikola-founder-charged-for-allegedly-misleading-investors?sref=Q1XEaVVD" target="_blank" rel="noopener">founder/CEO Trevor Milton was charged in federal court today with criminal and civil fraud</a> for lying to investors for years about “nearly every aspect of the business” to juice the stock price.This comes just two weeks after <a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> CEO Elon Musk defended himself in court over his role in <a href="https://www.bloomberg.com/news/articles/2021-07-13/musk-keeps-temper-in-check-in-tesla-solarcity-trial-testimony?sref=Q1XEaVVD" target="_blank" rel="noopener">pushing Tesla in 2016 to buy SolarCity</a> for an insupportable $2 billion without revealing its near-bankruptcy distress in order to bail out his relatives who ran it. Tesla already paid $60 million last year to settle the case, but Musk, true to form, stubbornly resists any efforts to hold him accountable for just about anything, no matter the harm.It could cost him $2 billion to refund the purchase price for SolarCity if he loses, and the Tesla shareholders suing have a credible case, but Musk is used to getting off without serious consequences.After all, he has defied courts, federal regulators, police, state and local government authorities for years with little more than a slap on the wrist.But this year things have changed, whether Elon Musk realizes it yet or not.

Nikola Corp (NKLA US) ousted founder/CEO Trevor Milton was charged in federal court today with criminal and civil fraud for lying to investors for years about “nearly every aspect of the business” to juice the stock price.This comes just two weeks after Tesla Motors (TSLA US) CEO Elon Musk defended himself in court over his role in pushing Tesla in 2016 to buy SolarCity for an insupportable $2 billion without revealing its near-bankruptcy distress in order to bail out his relatives who ran it. Tesla already paid $60 million last year to settle the case, but Musk, true to form, stubbornly resists any efforts to hold him accountable for just about anything, no matter the harm.It could cost him $2 billion to refund the purchase price for SolarCity if he loses, and the Tesla shareholders suing have a credible case, but Musk is used to getting off without serious consequences.After all, he has defied courts, federal regulators, police, state and local government authorities for years with little more than a slap on the wrist.But this year things have changed, whether Elon Musk realizes it yet or not.

Nikola's Ex CEO Trevor Milton Arrested for Lying to Investors. Some Ask, "What About Elon?"

<a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> reported second quarter deliveries solidly higher at 201,250, topping market consensusfor 200,000 and my 187,000 estimate.A deeper dive revealed weakness versus the first quarter which has been building over several months. See how the numbers landed and what this indicates for full second quarter results which are expected by July 22nd.

Tesla Motors (TSLA US) reported second quarter deliveries solidly higher at 201,250, topping market consensusfor 200,000 and my 187,000 estimate.A deeper dive revealed weakness versus the first quarter which has been building over several months. See how the numbers landed and what this indicates for full second quarter results which are expected by July 22nd.

Plaid Sales Edge Tesla Q2 Deliveries Above 200,000

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

Equity Bottom-Up

<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

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<div class="content-highlight"><a href="https://www.reuters.com/article/lg-energy-solution-ipo/update-3-lg-energy-moves-ahead-on-skorea-ipo-that-ifr-says-may-raise-10-12-bln-idUSL2N2NQ0HI" target="_blank" rel="noopener">LG Energy Solution</a> is getting ready for an IPO in Korea in 2H 2021. LG Energy Solution is expected to be the largest IPO in Korea this year. It is expected that LG Energy Solution (LGES) could raise $10 billion to $12 billion, which would be the biggest ever IPO offering in Korea. The biggest ever IPO (in terms of amount raised) in Korea was Samsung Life IPO when it raised $4.4 billion in 2010. <a href="https://www.smartkarma.com/entities/coupang" target="_blank" data-smartkarma-citation="entities:28425:1" rel="noopener">Coupang (CPNG US)</a> recently raised $4.6 billion in the United States this year. </div>

LG Energy Solution is getting ready for an IPO in Korea in 2H 2021. LG Energy Solution is expected to be the largest IPO in Korea this year. It is expected that LG Energy Solution (LGES) could raise $10 billion to $12 billion, which would be the biggest ever IPO offering in Korea. The biggest ever IPO (in terms of amount raised) in Korea was Samsung Life IPO when it raised $4.4 billion in 2010. Coupang (CPNG US) recently raised $4.6 billion in the United States this year. 

Initial Thoughts on the LG Energy Solution IPO

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

In last week's Compass we highlighted what we view as compelling signals that risk appetites are improving, which is bullish for the broad market. The trend of improving risk appetites has only continued over the past week and we are moving toward an outright bullish outlook.

In last week's Compass we highlighted what we view as compelling signals that risk appetites are improving, which is bullish for the broad market. The trend of improving risk appetites has only continued over the past week and we are moving toward an outright bullish outlook.

U.S. Equity Strategy: Small-Caps Re-Emerging As Leadership

United States

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

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General Motors (GM US)

Nikola's Ex CEO Trevor Milton Arrested for Lying to Investors. Some Ask, "What About Elon?"

Many of Milton's lies are very different vs tales Tesla CEO Elon Musk has told investors for years. Others seem troublingly similar. With new...

Vicki Bryan

Plaid Sales Edge Tesla Q2 Deliveries Above 200,000

Q2 Deliveries topped 200k market consensus and my 187k est. A deeper look revealed weakness vs Q1 building for months. See how the numbers landed...

Vicki Bryan

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

Initial Thoughts on the LG Energy Solution IPO

LG Energy Solution is getting ready for an IPO in Korea in 2H 2021. LG Energy Solution is expected to be the largest IPO in Korea this year.

Douglas Kim

U.S. Equity Strategy: Small-Caps Re-Emerging As Leadership

We continue to see compelling signals that suggest risk appetites are improving, which is bullish for the broad market. As a result, we are moving...

Vermilion Research

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