Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Thematic (Sector/Industry)

<ul><li>This post provides an update of Evidente&rsquo;s currency model.&nbsp; Under-valuation of the A$/US$ has now reached an extreme, while the Big Mac index also points to deep A$/US$ under-valuation.&nbsp; ASX listed US$ earners have performed poorly despite the renewed deprecation of the A$ over the past six months.&nbsp;</li><li>I also assess the investment case against Brambles, which generates around half of its revenue in North America.&nbsp; The company will be undergoing a capex hump at a time when its marginal return on capital has been deteriorating to the point of recently turning negative.&nbsp;</li><li>I examine its remuneration scheme and conclude that the fact that the board, ESG advisory firms and institutional investors endorse complex and opaque Long Term Incentive plans of this kind, suggests that the bloated corporate governance industry has a long way to go to achieving adequate alignment of interests between senior executives and shareholders.</li></ul>

This post provides an update of Evidente&rsquo;s currency model.&nbsp; Under-valuation of the A$/US$ has now reached an extreme, while the Big Mac index also points to deep A$/US$ under-valuation.&nbsp; ASX listed US$ earners have performed poorly despite the renewed deprecation of the A$ over the past six months.&nbsp;I also assess the investment case against Brambles, which generates around half of its revenue in North America.&nbsp; The company will be undergoing a capex hump at a time when its marginal return on capital has been deteriorating to the point of recently turning negative.&nbsp;I examine its remuneration scheme and conclude that the fact that the board, ESG advisory firms and institutional investors endorse complex and opaque Long Term Incentive plans of this kind, suggests that the bloated corporate governance industry has a long way to go to achieving adequate alignment of interests between senior executives and shareholders.

A$ buy signal strengthens | Investment case against Brambles

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

Event-Driven

When Foxtel announced its intention on 15 June 2015 to acquire a 14.2% stake in Ten Network, we expressed our reservations on whether the proposed deal will obtain regulatory blessing from the Australian Competition and Consumer Commission, or ACCC.Since then, shares in Ten Network have fallen by more than 30%, showing that investors may also share the same concern.The move by the ACCC today to invite more submissions, instead of announcing a formal decision, adds further uncertainty.Analyst: Brian HanFor report below the fold...

When Foxtel announced its intention on 15 June 2015 to acquire a 14.2% stake in Ten Network, we expressed our reservations on whether the proposed deal will obtain regulatory blessing from the Australian Competition and Consumer Commission, or ACCC.Since then, shares in Ten Network have fallen by more than 30%, showing that investors may also share the same concern.The move by the ACCC today to invite more submissions, instead of announcing a formal decision, adds further uncertainty.Analyst: Brian HanFor report below the fold...

Australia

Seven Group Holdings Ltd. is a diversified operating and investment group. The Groups interests include media holdings that include Seven Network, a commercial television network and publishing company, a telecommunications company, and a heavy equipment dealer that operates  Caterpillar dealerships in Australia and North Eastern China.

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Seven Group Holdings (SVW AU)

A$ buy signal strengthens | Investment case against Brambles

This post provides an update of Evidente’s currency model. Under-valuation of the A$/US$ has now reached an extreme, while the Big Mac index also...

Sam Ferraro

ACCC in Catch-22 with Ten Network

When Foxtel announced its intention on 15 June 2015 to acquire a 14.2% stake in Ten Network, we expressed our reservations on whether the proposed...

Morningstar, Inc.

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