TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPL<div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  </div>

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPLObex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

In our quest to value <a href="https://www.smartkarma.com/entities/zomato-media-pvt" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOM IN</a>, in this insight, we identify key operating metrics that would aid in the revenue build-up. To understand the core drivers behind these operating metrics, we speak to predominantly urban dominated restaurateurs in Mumbai, Hyderabad, Visakhapatnam (Vizag) and Bangalore.  
This insight focuses on building Gross Order Value (GOV), Revenue and Margins will be subject of subsequent insights, post additional channel checks.

In our quest to value Zomato (ZOM IN, in this insight, we identify key operating metrics that would aid in the revenue build-up. To understand the core drivers behind these operating metrics, we speak to predominantly urban dominated restaurateurs in Mumbai, Hyderabad, Visakhapatnam (Vizag) and Bangalore.  
This insight focuses on building Gross Order Value (GOV), Revenue and Margins will be subject of subsequent insights, post additional channel checks. 

Zomato (ZOM IN) | Merchant Surveys - Operating Metrics and a Hidden Predator

AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

AlphaSituations-Event/Catalyst Driven Research

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

We believe that the proposed merger of <a href="https://www.smartkarma.com/entities/at-t-inc" target="_blank" data-smartkarma-citation="entities:784:1" rel="noopener">At&amp;T Inc (T US)</a> 's  media assets with <a href="https://www.smartkarma.com/entities/discovery-inc" target="_blank" data-smartkarma-citation="entities:11395:1" rel="noopener">Discovery, Inc. (DISCA, DISCK, DISCB US)</a>  via a Reverse Morris Trust transaction promises to unlock substantial value for Discovery shareholders. Our insight discusses why the transaction has been beset by investor apathy, why we think this creates an excellent value creating opportunity and how best to take advantage of the opportunity.

We believe that the proposed merger of At&amp;T Inc (T US) 's  media assets with Discovery, Inc. (DISCA, DISCK, DISCB US)  via a Reverse Morris Trust transaction promises to unlock substantial value for Discovery shareholders. Our insight discusses why the transaction has been beset by investor apathy, why we think this creates an excellent value creating opportunity and how best to take advantage of the opportunity.

MergerTalk: Why Market Apathy To Discovery's Merger With WarnerMedia Is A Gift To Value Investors

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

The MCO in Malaysia has been extended and many wonder what will happen to the <a href="https://www.smartkarma.com/entities/kuala-lumpur-composite-index" target="_blank" data-smartkarma-citation="entities:22913:1" rel="noopener">Kuala Lumpur Composite Index (KLCI) (FBMKLCI INDEX)</a>after this. In this insight, we will discuss auto and TV sectors that benefit from supportive government policy and prolonged stay-home consumer behavior respectively, namely <a href="https://www.smartkarma.com/entities/umw-holdings-bhd" target="_blank" data-smartkarma-citation="entities:1700:1" rel="noopener">UMW Holdings (UMWH MK)</a> , <a href="https://www.smartkarma.com/entities/drb-hicom-bhd" target="_blank" data-smartkarma-citation="entities:19627:1" rel="noopener">DRB-Hicom Bhd (DRB MK)</a> and <a href="https://www.smartkarma.com/entities/astro-malaysia-holdings-bhd" target="_blank" data-smartkarma-citation="entities:1143:1" rel="noopener">Astro Malaysia Holdings (ASTRO MK)</a> .

The MCO in Malaysia has been extended and many wonder what will happen to the Kuala Lumpur Composite Index (KLCI) (FBMKLCI INDEX)after this. In this insight, we will discuss auto and TV sectors that benefit from supportive government policy and prolonged stay-home consumer behavior respectively, namely UMW Holdings (UMWH MK) , DRB-Hicom Bhd (DRB MK) and Astro Malaysia Holdings (ASTRO MK) .

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Headline Developments China is looking to continue its rout on crypto, pushing for the suspension of some crypto mining operations late last week.  Chinese Vice Premier Liu He told a group of officials that the Government would “clamp down on bitcoin mining and trading activity” to achieve financial stability.

Headline Developments China is looking to continue its rout on crypto, pushing for the suspension of some crypto mining operations late last week.  Chinese Vice Premier Liu He told a group of officials that the Government would “clamp down on bitcoin mining and trading activity” to achieve financial stability.

United States

Netflix Inc. is an Internet subscription service for watching tv shows and movies. Subscribers can instantly watch unlimited TV shows and movies streamed over the Internet to their TVs, computers and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

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Netflix Inc (NFLX US)

TMT Weekly: FAANG Rankings from Here

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here?...

Aaron Gabin

Zomato (ZOM IN) | Merchant Surveys - Operating Metrics and a Hidden Predator

To understand the core drivers behind these operating metrics, we speak to predominantly urban dominated restaurateurs in Mumbai, Hyderabad,...

Pranav Bhavsar

MergerTalk: Why Market Apathy To Discovery's Merger With WarnerMedia Is A Gift To Value Investors

The proposed merger of AT&T's WarnerMedia with Discovery has real shot of being a significant global competitor to leading streaming services...

Robert Sassoon

Malaysia MCO: Winners

auto and TV benefit from supportive government policy and prolonged stay-home consumer behavior respectively, namely UMW Holdings , DRB-Hicom Bhd...

Henry Soediarko

Weekly Innovation Review #33

Headline Developments China is looking to continue its rout on crypto, pushing for the suspension of some crypto mining operations late last week. ...

Granite Bay Capital

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