Japan/Asia Long-Short, LightStream Research

Mio Kato

Over 15 years analysing Japanese and Asian stocks from a long/short perspective

I focus on cyclically driven sectors such as Gaming, Factory Automation and Autos

An eclectic background as a long-short analyst, upper management at a financial data startup through its listing, and as the founder of a team analysing big/alternative data, all of which supports independent and differentiated views... we hope

An appreciation for Mathematics drives the development of a "Micro-Quantamental" process which can provide a data-driven, historically-informed and semi-automated foundation upon which to layer more qualitative and judgemental analysis, thus improving investment decision-making speed and accuracy

Japan/Asia Long-Short

Roblox Direct Public Listing Valuation Update

Roblox: If Its in the Game, Its in the Game

Roblox IPO Preview – Unique Positioning

Roblox DPO. Going Public Through A Direct Listing Instead Of A Traditional IPO

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

The Roblox IPO is attracting significant attention from investors and the media, most of it very complimentary. While we also generally like the company’s business model and positioning, after examining some of its numbers, we see some potential issues. Since the bull case is being very thoroughly covered elsewhere, we will examine some weaknesses we see in the company’s business model. For some positive views please refer Douglas Kim and Andrei Zakharov’s work: <a href="https://www.smartkarma.com/insights/roblox-corp-ipo-preview" target="_blank" rel="noopener">Roblox Corp IPO Preview | Smartkarma</a><a href="https://www.smartkarma.com/insights/roblox-valuation-analysis" target="_blank" rel="noopener">Roblox Valuation Analysis | Smartkarma</a><a href="https://www.smartkarma.com/insights/roblox-dpo-going-public-through-a-direct-listing-instead-of-a-traditional-ipo" target="_blank" rel="noopener">Roblox DPO. Going Public Through A Direct Listing Instead Of A Traditional IPO | Smartkarma</a>

The Roblox IPO is attracting significant attention from investors and the media, most of it very complimentary. While we also generally like the company’s business model and positioning, after examining some of its numbers, we see some potential issues. Since the bull case is being very thoroughly covered elsewhere, we will examine some weaknesses we see in the company’s business model. For some positive views please refer Douglas Kim and Andrei Zakharov’s work:  Roblox Corp IPO Preview | SmartkarmaRoblox Valuation Analysis | SmartkarmaRoblox DPO. Going Public Through A Direct Listing Instead Of A Traditional IPO | Smartkarma

Roblox IPO – Let’s Look at the Negatives

ROBLOX

Roblox IPO – Let’s Look at the Negatives