O2 UK / Telefonica (TEF SM) / Liberty (LBTYA): Can You Create Value from Assets that Nobody Wants?
Telefonica SA (TEF SM) and Liberty Global Plc A (LBTYA US) are in talks to merge their UK operations. We do not know what will happen to the...
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Vodafone (VOD LN): If You Look at Vodafone a Bit Differently, It Is a Solid Long-Term Play.
I build my investment case on Vodafone’s dividend-paying power. I show that it is the most crucial factor in driving Vodafone’s equity value. I...
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StubWorld: CK Hutchison Recovering. More To Come
This week in StubWorld ... CK Hutchison Holdings (1 HK) is back to levels last seen before political disruptions began in Hong Kong. CKH looks...
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Developed Markets Opportunities
Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership...
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Global Equity Strategy: Stay on the Defensive
Deterioration for ACWI ex-US, EAFE, and EM, continued bearish-leaning indicators, and the downward trajectory of bond yields leads us to remain...
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