Fundamental Principles of the Stock Market, From 0 to 1 in the Stock Market

From 0 to 1 in the Stock Market

Fundamental Principles of the Stock Market

Fundamental principles of the stock market, earnings reviews and research. My name is Giuliano Mana, I’m 23 years old. I have a B.A Degree in Finance and I’m a Master’s candidate at Brandeis IBS. I’ve been thoroughly going over huge amounts of reading material regarding the stock market and hope to transmit some insights here.

Equity Bottom-Up

<div data-attrs='{"url":"https://www.0to1stockmarket.com/subscribe?","text":"Subscribe","language":"en"}' data-component-name="SubscribeWidgetToDOM"><div><form class="subscription-widget-subscribe"><div><ul><li><span style="font-size: var(--content-font-size);">Microsoft reported results on January 30</span><sup>th</sup><span style="font-size: var(--content-font-size);">. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. </span></li><li><span style="font-size: var(--content-font-size);">It’s worth highlighting that Activision contributed to 4pp of revenue growth. </span></li><li><span style="font-size: var(--content-font-size);">During July, a court filing was leaked, which illustrated </span>management’s self-stated ambition<span style="font-size: var(--content-font-size);"> for the next decade.</span></li></ul></div></form></div></div>

Microsoft reported results on January 30th. The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr CAGR of 13.8%. It’s worth highlighting that Activision contributed to 4pp of revenue growth. During July, a court filing was leaked, which illustrated management’s self-stated ambition for the next decade.

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>One of the biggest trends impacting the fund flow in Korea this year has been the huge capital inflow into overseas equity ETFs. </li>
<li>The net asset value of the listed ETFs in Korea investing in overseas stocks surpassed the ETFs investing in domestic stocks for the first time in 17 years.</li>
<li>The ETFs that invest in overseas stocks were 35.8 trillion won on 12 November 2024, up 111% from 12 January 2024.</li>
</ul>


One of the biggest trends impacting the fund flow in Korea this year has been the huge capital inflow into overseas equity ETFs. 
The net asset value of the listed ETFs in Korea investing in overseas stocks surpassed the ETFs investing in domestic stocks for the first time in 17 years.
The ETFs that invest in overseas stocks were 35.8 trillion won on 12 November 2024, up 111% from 12 January 2024.


Overseas Equity ETFs Surpass Domestic Equity ETFs For the First Time in 17 Years

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Event-Driven

<ul>
<li>The US election is the ultimate of known unknowns. The markets have endured both Trump and Biden/Harris so impactful policy surprises should be limited. </li>
<li>Hedging cost are running high for Asian equities post August unwind and September stimulus combined with election. </li>
<li>Markets have some momentum and in some cases mean reversion to the price move on the day after the election. </li>
</ul>


The US election is the ultimate of known unknowns. The markets have endured both Trump and Biden/Harris so impactful policy surprises should be limited. 
Hedging cost are running high for Asian equities post August unwind and September stimulus combined with election. 
Markets have some momentum and in some cases mean reversion to the price move on the day after the election. 


EQD | US Election -  Hedge Considerations

Technology / Semiconductor / Internet Research

Nicolas Baratte

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>The rally of the Asia Tech sector (+24% YTD) is highly concentrated in a handful of stocks. TSMC is up 64% but Samsung is down -22% YTD. </li>
<li>With the exception of AI, end-demand isn’t great. Smartphone up 8% but below 2019-21 level. PC flattish. x86 Server flattish. Telecom capex declining. Automotive electronics declining.   </li>
<li>AI is the most disruptive trend since Cloud in 2010. Years of increasing Capex are in front of us. But short-term, stocks are properly valued to rich, growth is slowing.</li>
</ul>


The rally of the Asia Tech sector (+24% YTD) is highly concentrated in a handful of stocks. TSMC is up 64% but Samsung is down -22% YTD. 
With the exception of AI, end-demand isn’t great. Smartphone up 8% but below 2019-21 level. PC flattish. x86 Server flattish. Telecom capex declining. Automotive electronics declining.   
AI is the most disruptive trend since Cloud in 2010. Years of increasing Capex are in front of us. But short-term, stocks are properly valued to rich, growth is slowing.


All Is Not Well in Tech Sector, AI Growth Slows, TSMC Expensive. Samsung, SK Hynix More Attractive.

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Cerebras presently derives up to 87% of its revenue from G42</li>
<li>Microsoft gatecrashed Cerebras party with a $1.5 billion investment in G42 to "accelerate AI development and global expansion"</li>
<li>G42 "severed its ties" with China in advance of the Microsoft investment</li>
</ul>


Cerebras presently derives up to 87% of its revenue from G42
Microsoft gatecrashed Cerebras party with a $1.5 billion investment in G42 to "accelerate AI development and global expansion"
G42 "severed its ties" with China in advance of the Microsoft investment


Cerebras Files Intent To IPO. This Will Be Interesting

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

Microsoft Q2 Earnings Review

The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr...

From 0 to 1 in the Stock Market

Overseas Equity ETFs Surpass Domestic Equity ETFs For the First Time in 17 Years

One of the biggest trends impacting the fund flow in Korea this year has been the huge capital inflow into overseas equity ETFs.

Douglas Kim

EQD | US Election - Hedge Considerations

The US election brings uncertainty, but market impact should be limited due to enduring Trump and Biden/Harris policies. Asian equities face high...

John Ley

All Is Not Well in Tech Sector, AI Growth Slows, TSMC Expensive. Samsung, SK Hynix More Attractive.

Difficult juncture for Asia Tech. Consumer and Enterprise segments are flattish; stocks have underperformed. AI is the only growth driver, growth...

Nicolas Baratte

Cerebras Files Intent To IPO. This Will Be Interesting

Cerebras gets up to 87% of its revenue from G42. G42 "severed its ties" with China, opening the door for a $1.5 billion Microsoft investment to...

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Microsoft Q2 Earnings Review

The company generated revenue in excess of 62bn dollars during the fourth quarter of 2023, increasing 17% on a yearly basis and exhibiting a 4yr...

From 0 to 1 in the Stock Market

Overseas Equity ETFs Surpass Domestic Equity ETFs For the First Time in 17 Years

One of the biggest trends impacting the fund flow in Korea this year has been the huge capital inflow into overseas equity ETFs.

Douglas Kim

EQD | US Election - Hedge Considerations

​The US election brings uncertainty, but market impact should be limited due to enduring Trump and Biden/Harris policies. Asian equities face high...

John Ley

All Is Not Well in Tech Sector, AI Growth Slows, TSMC Expensive. Samsung, SK Hynix More Attractive.

Difficult juncture for ​Asia Tech. Consumer and Enterprise segments are flattish; stocks have underperformed. AI is the only growth driver, growth...

Nicolas Baratte

Cerebras Files Intent To IPO. This Will Be Interesting

Cerebras gets up to 87% of its revenue from G42. G42 "severed its ties" with China, opening the door for a $1.5 billion Microsoft investment to...

William Keating

The US election brings uncertainty, but market impact should be limited due to enduring Trump and Biden/Harris policies. Asian equities face high...

Difficult juncture for Asia Tech. Consumer and Enterprise segments are flattish; stocks have underperformed. AI is the only growth driver, growth...