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

Tesla Take-Private Plan: Shoot First, Answer Questions Later (If at All)

Smartkarma's Week That Was in JP/KR: Machinery, Autos, Tesla/Tweets, and FamiMa Tender

Tesla Inc. – A Chastised Musk Is a Win for All Shareholders; Thankfully This Too Shall Pass

Last Week in GER Research: Tesla, Pinduoduo, Beigene, Koolearn, Pintec, STX and China Tower

Tesla--Legal Liabilities in Light of Porsche's 2008 Alleged Stock Manipulation of VW's Stock

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.

Event-Driven

<h2>Funding Secured?</h2><p>While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few problems with this:</p><ul>
<li>To start with, the PIF alone is unlikely to be able to fund an investment of this size. According to Bloomberg's listed holdings page, the fund holds USD143.7bn of assets, USD143.0bn of which are listed in Saudi Arabia (a USD694m stake in <a href="https://www.smartkarma.com/entities/21649" target="_blank" data-smartkarma-citation="entities:21649:1">Hapag-Lloyd AG (HLAG GR)</a> is the lone exception).</li>
<li>The fund has apparently already bought almost…</li>
</ul>

Funding Secured?While Musk has pointed to the Saudi Arabian Public Investment Fund as the backing for his "funding secured" tweet, we see a few problems with this:
To start with, the PIF alone is unlikely to be able to fund an investment of this size. According to Bloomberg's listed holdings page, the fund holds USD143.7bn of assets, USD143.0bn of which are listed in Saudi Arabia (a USD694m stake in Hapag-Lloyd AG (HLAG GR) is the lone exception).
The fund has apparently already bought almost…


Tesla: Neither Funding nor Model 3 Demand Appears Secured to Us