Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>We scrutinize market dynamics following the blowout earnings report of the world’s hottest stock, NVIDIA. Something definitely changed.</li>
<li>Incoming PMI data from the Eurozone seriously questions the ‘soft landing narrative,’ which we think should force the end of the global central bank tightening cycle. </li>
<li>China’s economic woes continue to grow, and the focus has now shifted to ending the stellar depreciation of the Yuan.</li>
</ul>


We scrutinize market dynamics following the blowout earnings report of the world’s hottest stock, NVIDIA. Something definitely changed.
Incoming PMI data from the Eurozone seriously questions the ‘soft landing narrative,’ which we think should force the end of the global central bank tightening cycle. 
China’s economic woes continue to grow, and the focus has now shifted to ending the stellar depreciation of the Yuan.


The Weekly Market Monitor – One Strike, Two Strikes, …

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index underperformed the broader market, falling 4.8% W/W versus the S&amp;P 500 Index (down 2.1%), the Russell 2000 Index (down 3.4%), and the Nasdaq Index (down 2.2%).</li><li>Energy Technology (14.7% of the index) contributed to the index’s underperformance, falling 7.3%, while Industrial Climate and Ag Technology (46.6% of the index) was down 2.1%, ClimateTech Mining was down 7.8%, and Advanced Transportation Solutions was down 6.8%.</li><li>Top 10 Performers: LYTS, EOSE, PE, RIDE, PGTK, BWEN, ORGN, SOLO, TGEN, ADSE</li></ul>

The WTR Sustainable Index underperformed the broader market, falling 4.8% W/W versus the S&amp;P 500 Index (down 2.1%), the Russell 2000 Index (down 3.4%), and the Nasdaq Index (down 2.2%).Energy Technology (14.7% of the index) contributed to the index’s underperformance, falling 7.3%, while Industrial Climate and Ag Technology (46.6% of the index) was down 2.1%, ClimateTech Mining was down 7.8%, and Advanced Transportation Solutions was down 6.8%.Top 10 Performers: LYTS, EOSE, PE, RIDE, PGTK, BWEN, ORGN, SOLO, TGEN, ADSE

Weekly Sustainable Investing Surveyor - Week Ended August 18, 2023

Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>This week, news broke that the oldest crypto market maker, GSR, has been scaling back operations - particularly in the U.S. - while a number of top executives have left the company.</li><li>This is yet another hit to U.S. and global liquidity and volumes; in May, Jump Crypto and Jane Street revealed they were reducing crypto operations.</li><li>This week, we’ll take a look at the state of the crypto market, including volatility, liquidity, and volumes, and then examine some budding narratives and tokens.</li></ul>

This week, news broke that the oldest crypto market maker, GSR, has been scaling back operations - particularly in the U.S. - while a number of top executives have left the company.This is yet another hit to U.S. and global liquidity and volumes; in May, Jump Crypto and Jane Street revealed they were reducing crypto operations.This week, we’ll take a look at the state of the crypto market, including volatility, liquidity, and volumes, and then examine some budding narratives and tokens.

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>The re-emergence of AI as a topic of hype, caution and investment contains, in equal parts, the re-discovery of a pre-existing technology, but now on steroids, plus all the excitement of the race among the top 5 techs to invest enough in order to dominate the field .</li><li>The 2000 Dot.com boom involved hundreds of IPOs of start-ups, all with the word “internet” in their names, except now the AI boom involves mostly buying up existing startups by the big Techs.</li><li>The re emergence of AI will undoubtedly change a lot of the ways in which data are used and monetized, it will make Google search far more client-friendly and it will step up the capacity of software to program themselves. </li></ul>

The re-emergence of AI as a topic of hype, caution and investment contains, in equal parts, the re-discovery of a pre-existing technology, but now on steroids, plus all the excitement of the race among the top 5 techs to invest enough in order to dominate the field .The 2000 Dot.com boom involved hundreds of IPOs of start-ups, all with the word “internet” in their names, except now the AI boom involves mostly buying up existing startups by the big Techs.The re emergence of AI will undoubtedly change a lot of the ways in which data are used and monetized, it will make Google search far more client-friendly and it will step up the capacity of software to program themselves. 

The “ AI Revolution” : A Cautionary Tale and Its Investment Consequences

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul>
<li>As highlighted in our data dive yesterday on the curve we see the steepener case as increasingly compelling.</li>
<li>From our portfolio, you will also know that we have been moving towards a boomer composition and in the following short note we’ll try to support that thesis.</li>
<li> Why would the curve slope back our boomer position?</li>
</ul>


As highlighted in our data dive yesterday on the curve we see the steepener case as increasingly compelling.
From our portfolio, you will also know that we have been moving towards a boomer composition and in the following short note we’ll try to support that thesis.
 Why would the curve slope back our boomer position?


United States

The NASDAQ-100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. No security can have more than a 24% weighting. The index was developed with a base value of 125 as of February 1, 1985. Prior to December 21,1998 the Nasdaq 100 was a cap-weighted index.

Nasdaq-100 Stock Index (NDX INDEX)

The Weekly Market Monitor – One Strike, Two Strikes, …

Market reaction to lower-than-expected US inflation numbers and blowout NVIDIA earnings is different from what is used to be. Three strikes and out?

Jeroen Blokland

Weekly Sustainable Investing Surveyor - Week Ended August 18, 2023

The WTR Sustainable Index underperformed the broader market, falling 4.8% W/W versus the S&P 500 Index (down 2.1%), the Russell 2000 Index (down...

Water Tower Research

Where Has the Volatility Gone?

This week, we’ll take a look at the state of the crypto market, including volatility, liquidity, and volumes, and then examine some budding...

Kaiko

The “ AI Revolution” : A Cautionary Tale and Its Investment Consequences

The re-emergence of AI as a topic of hype, caution and investment contains, in equal parts, the re-discovery of a pre-existing technology, but now...

VRS (Valuation & Research Specialists)

Curve Steepeners and the Boomer Trade

As highlighted in our data dive yesterday on the curve we see the steepener case as increasingly compelling. From our portfolio, you will also...

Steno Research