Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Thematic (Sector/Industry)

<ul>
<li>
In the past year, cocoa prices have spiked to elevated levels.
</li>
<li>
The culprit has been heavy rainfall in West Africa, leading to poor cocoa crops.
</li>
<li>
There’s nothing suggesting that the tightness in the cocoa market will end anytime soon. 
</li>
</ul>



In the past year, cocoa prices have spiked to elevated levels.


The culprit has been heavy rainfall in West Africa, leading to poor cocoa crops.


There’s nothing suggesting that the tightness in the cocoa market will end anytime soon. 



Global TMT Analyst, Ex-PM, 30 years experience

Neil Campling

<ul>
<li>China M1 and M2 data disappoints and reinforces deflationary risks. Closely watched Consumer Sentiment barometer, new &amp; used prices in top 70 cities, unequivocally weak</li>
<li>. Rise in the dynamic of US auto delinquencies is cause for concern</li>
<li>Corporate caution at investor conferences from <a href="https://www.smartkarma.com/entities/coca-cola-co-the" target="_blank" data-smartkarma-citation="entities:979:1" rel="noopener">Coca Cola Co (KO US)</a> , <a href="https://www.smartkarma.com/entities/visa-inc-class-a-shares" target="_blank" data-smartkarma-citation="entities:8707:1" rel="noopener">Visa (V US), </a><a href="https://www.smartkarma.com/entities/mondelez-international-inc" target="_blank" data-smartkarma-citation="entities:8111:1" rel="noopener">Mondelez International (MDLZ US)</a>, <a href="https://www.smartkarma.com/entities/wendy-s-co-the" target="_blank" data-smartkarma-citation="entities:2950:1" rel="noopener">Wendy's Co/The (WEN US), </a><a href="https://www.smartkarma.com/entities/dow-inc" target="_blank" data-smartkarma-citation="entities:19107:1" rel="noopener">Dow (DOW US)</a>, 3M and Campari</li>
</ul>


China M1 and M2 data disappoints and reinforces deflationary risks. Closely watched Consumer Sentiment barometer, new &amp; used prices in top 70 cities, unequivocally weak
. Rise in the dynamic of US auto delinquencies is cause for concern
Corporate caution at investor conferences from Coca Cola Co (KO US) , Visa (V US), Mondelez International (MDLZ US), Wendy's Co/The (WEN US), Dow (DOW US), 3M and Campari


Consumer Weekly. China Macro, US Auto Data, Visa, Coca-Cola, Wendy's, Mondelez, Campari, Ally

Podcast hosted by Hedgeye CEO Keith McCullough, Real Conversations

Real Conversations

Podcast hosted by Hedgeye CEO Keith McCullough

Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice. Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved.

Cross Asset Strategy

<ul><li>Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed well</li><li>Domino's reported slightly lower earnings and showed signs of global headwinds, momentum slowing</li><li>China looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflation</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed wellDomino's reported slightly lower earnings and showed signs of global headwinds, momentum slowingChina looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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

Health Care Select Sector SPDR / Technical Analysis

<ul>
<li>As the saying goes, "sector rotation is the lifeblood of a bull market." That appears to be exactly what is going on as we kick off 2024.</li>
<li>Leadership areas that have significantly outperformed since the October 2023 lows are starting to pull back rather hard -- and on above average volume (XLK, SMH, IGV, ARKK, IPO, BITQ)</li>
<li>Other Sectors are picking up the slack, namely Health Care (XLV), Staples (XLP), Utilities (XLU), Energy (XLE), Financials (XLF), and Real Estate (XLRE). Shift exposure toward value and defensives</li>
</ul>


As the saying goes, "sector rotation is the lifeblood of a bull market." That appears to be exactly what is going on as we kick off 2024.
Leadership areas that have significantly outperformed since the October 2023 lows are starting to pull back rather hard -- and on above average volume (XLK, SMH, IGV, ARKK, IPO, BITQ)
Other Sectors are picking up the slack, namely Health Care (XLV), Staples (XLP), Utilities (XLU), Energy (XLE), Financials (XLF), and Real Estate (XLRE). Shift exposure toward value and defensives


Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

Mondelez International / Equity Bottom-Up

<ul>
<li>Mondelez has outperformed the market both on an absolute and risk-adjusted basis.</li>
<li>The company is in a very good position to improve margins to higher levels than currently expected.</li>
<li>The stock remains as one of my favourite picks in the sector. The stock is one of the company's favourite picks.</li>
</ul>


Mondelez has outperformed the market both on an absolute and risk-adjusted basis.
The company is in a very good position to improve margins to higher levels than currently expected.
The stock remains as one of my favourite picks in the sector. The stock is one of the company's favourite picks.


Mondelez: Ignore The Noise And Invest In Strong And Well-Managed Brands

United States

Mondelez International Inc. is a food and beverage company.  The Company manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products.  Mondelez International sells its products throughout the world.

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Mondelez International (MDLZ US)

The cocoa question

In the past year, cocoa prices have spiked to elevated levels. The culprit has been heavy rainfall in West Africa, leading to poor cocoa crops.

Asian Century Stocks

Consumer Weekly. China Macro, US Auto Data, Visa, Coca-Cola, Wendy's, Mondelez, Campari, Ally

China's weak M1 and M2 data signals deflationary risks, while US auto delinquencies and corporate caution at investor conferences raise concerns.

Neil Campling

The Call @ Hedgeye | February 26, 2024

Last week saw a mixed market with Russell down almost 1%, consumer staples and MLPs performing well, Howard's cannabis MSOs showing strength,...

Real Conversations

Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

Shifting exposure toward value and defensives. Upgrading Consumer Staples $XLP and Health Care $XLV to market weight. $ARKK and $IPO with bearish...

Vermilion Research

Mondelez: Ignore The Noise And Invest In Strong And Well-Managed Brands

Mondelez has outperformed the market both on an absolute and risk-adjusted basis. The company is in a very good position to improve margins to...

Vladimir Dimitrov, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The cocoa question

In the past year, cocoa prices have spiked to elevated levels. The culprit has been heavy rainfall in West Africa, leading to poor cocoa crops.

Asian Century Stocks

Consumer Weekly. China Macro, US Auto Data, Visa, Coca-Cola, Wendy's, Mondelez, Campari, Ally

​China's weak M1 and M2 data signals deflationary risks, while US auto delinquencies and corporate caution at investor conferences raise concerns.

Neil Campling

The Call @ Hedgeye | February 26, 2024

Last week saw a mixed market with Russell down almost 1%, consumer staples and MLPs performing well, Howard's cannabis MSOs showing strength,...

Real Conversations

Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

Shifting exposure toward value and defensives. Upgrading Consumer Staples $XLP and Health Care $XLV to market weight. $ARKK and $IPO with bearish...

Vermilion Research

Mondelez: Ignore The Noise And Invest In Strong And Well-Managed Brands

Mondelez has outperformed the market both on an absolute and risk-adjusted basis. The company is in a very good position to improve margins to...

Vladimir Dimitrov, CFA

China's weak M1 and M2 data signals deflationary risks, while US auto delinquencies and corporate caution at investor conferences raise concerns.