Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Taiwan Dual-Listings Monitor: History Implies TSMC Spread to Trade Down; ASE Still Broken Down

Taiwan Tech Weekly: Taiwan Rebound Lagging Nvidia; Why TSMC's 'Foundry 2.0' Is Significant

Taiwan Dual-Listings Monitor: TSMC Maintaining Strong Premium; UMC Headroom Continues to Decrease

Taiwan Tech Weekly: Hit Hard By AI/Tech Pullback; Watch UMC, Mediatek, Realtek, AMD, MSFT Earnings

Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

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

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>TSMC: +16.1% Premium; Strong Spread Rebound, Potential Opportunity to Short the Spread</li>
<li>UMC: +1.6% Premium; Consider Shorting the Spread at This Level</li>
<li>ASE: +3.8% Premium; Uncertainty Remains on the Sustainability of the Recent Breakdown</li>
</ul>


TSMC: +16.1% Premium; Strong Spread Rebound, Potential Opportunity to Short the Spread
UMC: +1.6% Premium; Consider Shorting the Spread at This Level
ASE: +3.8% Premium; Uncertainty Remains on the Sustainability of the Recent Breakdown


Taiwan Dual-Listings Monitor: TSMC Strong Spread Rebound Into Short Zone; ASE Remains Broken Down