Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

Thematic (Sector/Industry)

<p><strong>Banking profits are under attack from FinTech</strong><br>Over the next five years, banks will no longer enjoy the oligopolistic profits of the past. Their scale is now working against them. Nimbler financial technology (or “FinTech”) companies are eating into their market share. Banking profits in segments such as enterprise lending and wealth management will decline by up to 35% by 2025, according to McKinsey.</p><p>Crowdfunding is the most potent FinTech threat.</p>

Banking profits are under attack from FinTech Over the next five years, banks will no longer enjoy the oligopolistic profits of the past. Their scale is now working against them. Nimbler financial technology (or “FinTech”) companies are eating into their market share. Banking profits in segments such as enterprise lending and wealth management will decline by up to 35% by 2025, according to McKinsey.Crowdfunding is the most potent FinTech threat.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

IMAX China Holding / Equity Capital Markets

<p>As part of our IPO coverage, we closely followed Hong Kong IPOs over 2015, and wrote on most of the larger deals. In this insight, we've used the data from our deal coverage to highlight a few interesting analytics about the deals that we saw over the past year.</p><p>We've analysed 53 IPO deals and keyed in on 5 charts: the overall performance distribution, and IPO performance based on sector, market cap, lead broker and retail participation. </p><div class="content-remarks">For our analysis we have selected listings in Hong Kong…</div>

As part of our IPO coverage, we closely followed Hong Kong IPOs over 2015, and wrote on most of the larger deals. In this insight, we've used the data from our deal coverage to highlight a few interesting analytics about the deals that we saw over the past year.We've analysed 53 IPO deals and keyed in on 5 charts: the overall performance distribution, and IPO performance based on sector, market cap, lead broker and retail participation. For our analysis we have selected listings in Hong Kong…

5 Key Charts to Wrap-Up 2015 HK IPO - Broker, Sector, and Retail Analytics

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

<p>We've taken a close look at banks' energy exposures and potential losses, and see both good news and bad news for investors.</p><p>First, the good news--for most banks, we think the losses will be manageable. And now the bad news-- nearly all banks are under-reserved and several could be facing capital shortfalls in a worst-case scenario.</p><p><em>Analyst: Erin Davis</em></p>

We've taken a close look at banks' energy exposures and potential losses, and see both good news and bad news for investors.First, the good news--for most banks, we think the losses will be manageable. And now the bad news-- nearly all banks are under-reserved and several could be facing capital shortfalls in a worst-case scenario.Analyst: Erin Davis

Banks Look Under-Reserved for Energy Losses

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<div>
<strong>Our S&amp;P buy limit at 1,875 was spot on per our dip/rally call, and we are seeing gains back to the touted 1,910-20 area where we are exiting this ST long</strong> ahead of the NFP Friday. A weak NFP number would boost the S&amp;P marginally into ideal short territory at 1,938 with risk to 1,950. Weaker sector links still look ugly with a focus on shorting small caps and financials. Our macro bear view stands - Short this rally for a slide to 1,720 and ultimately 1,620 by the summer.</div><div>Much like the BOJ induced…</div>


Our S&amp;P buy limit at 1,875 was spot on per our dip/rally call, and we are seeing gains back to the touted 1,910-20 area where we are exiting this ST long ahead of the NFP Friday. A weak NFP number would boost the S&amp;P marginally into ideal short territory at 1,938 with risk to 1,950. Weaker sector links still look ugly with a focus on shorting small caps and financials. Our macro bear view stands - Short this rally for a slide to 1,720 and ultimately 1,620 by the summer.Much like the BOJ induced…

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<p><strong>There are plenty of concerns for DBS</strong>, as well as peer Singapore banks. But we will keep the focus here on DBS.</p><ul><li>Firstly there is the bank’s China lending, where all is not well.</li><li>Second is the bank’s relatively high level of market risk, where regulations will make this more costly and where impairments can surprise.  </li><li>Thirdly there is energy, commodity, or oil-related lending, given the sharp drop in prices of late. </li><li>Fourthly, DBS in India is loss-making.</li><li>Finally, the bank is highly exposed to off-balance sheet risk.</li></ul>

There are plenty of concerns for DBS, as well as peer Singapore banks. But we will keep the focus here on DBS.Firstly there is the bank’s China lending, where all is not well.Second is the bank’s relatively high level of market risk, where regulations will make this more costly and where impairments can surprise.  Thirdly there is energy, commodity, or oil-related lending, given the sharp drop in prices of late. Fourthly, DBS in India is loss-making.Finally, the bank is highly exposed to off-balance sheet risk.

United Kingdom

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance.  The Group operates worldwide.

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HSBC Holdings (5 HK)

Crowdfunding as an Investment Theme

Banking profits are under attack from FinTechOver the next five years, banks will no longer enjoy the oligopolistic profits of the past. Their...

CM Research

5 Key Charts to Wrap-Up 2015 HK IPO - Broker, Sector, and Retail Analytics

As part of our IPO coverage, we closely followed Hong Kong IPOs over 2015, and wrote on most of the larger deals. In this insight, we've used the...

Ke Yan, CFA, FRM

Banks Look Under-Reserved for Energy Losses

We've taken a close look at banks' energy exposures and potential losses, and see both good news and bad news for investors.First, the good...

Morningstar, Inc.

S&P Cap, DXY in Line, WTI and Copper

Our S&P buy limit at 1,875 was spot on per our dip/rally call, and we are seeing gains back to the touted 1,910-20 area where we are exiting...

Thomas Schroeder

A Myriad of Concerns for DBS

There are plenty of concerns for DBS, as well as peer Singapore banks. But we will keep the focus here on DBS. Firstly there is the bank’s China...

Daniel Tabbush

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