Download PDF USA In the midst of Hurricane Helene’s wake, shaky Middle Eastern tensions, and slightly higher than expected job unemployment benefit applications in the report on Thursday, markets responded in a cool manner. In the past 5 days, the S&P 500 was mildly in the red all the way Read more…
Download PDF Introduction In this article, we present the first episode of a series on backtesting. We want to provide the reader with an immersive analysis of this powerful tool and analyze all the processes that lead to its optimization and implementation. The series will consist of the following parts: Read more…
Download PDF Introduction Last month, the Japanese operator of 7-Eleven [XTKS: 3382] rejected a friendly takeover bid from the Canadian retailer Alimentation Couche-Tard [TO: ATD], which controls the Circle K brand. At $14.86 per share, the bid valued the business at $39bn, which would have made this Japan’s biggest-ever buyout Read more…
Download PDF USA The week started strong with both the S&P 500 and the NASDAQ continuing to grow, reaching all-time highs, after the FED delivered a 50bps rate cut last Wednesday. Amongst stocks, companies like Lockheed Martin (+40.11% YoY), Caterpillar (+35.64% YoY) and Lowe’s (+23.33% YoY) reached all-time highs. The Read more…
Download PDF Introduction For the last 12 months, Central Banks worldwide have been under the limelight as market participants tried to decipher their respective rate paths after the conclusion of the global hiking cycle. In this article we attempt to decompose the key factors that central banks take into consideration Read more…
Download PDF Nike – BUY Target Price $183, 149% Upside Disclaimer: this article was written on the day of the CEO change announcement, September 19th when stock was trading at around 73 Euros, as reflected in our calculated target price and upside. Introduction Nike Inc., the company with the largest Read more…
Download PDF Introduction On September 10th, Italy’s UniCredit SpA [ETR: CRIN] has acquired a total 9% stake in the German Commerzbank AG [FWB: CBK], half of it directly off the hands of the German finance agency. About a week later the stake was increased to 21%, the majority of it Read more…
Download PDF Introduction Private Equity firms are known for investing in all types of businesses. Ranging from pet clinics and cookie brands to power transmission lines, over time funds have expanded their investment horizons to different asset classes. In the early 2000s private equity firms began investing in higher education, Read more…
Download PDF Introduction The Body Shop is a British cosmetic, skincare and perfume company known for selling ethically sourced products made with natural ingredients and free of animal testing. Throughout its +50 years of existence, the company grew from a small family business based in the UK to being owned Read more…
Download PDF Introduction The efficiency of football odds has been widely debated over the past years, especially as competition grew in the industry and forced bookmakers to improve their predictive power on the back of lower margins. In this article, we explore some of the biases present in the football Read more…
Download PDF USA The week started with a mixed performance for US stocks with Dow Jones hitting a new record high and investors treading carefully ahead of the Federal Reserve key policy meeting on Wednesday. Monday was a bad day for the tech sector with Apple shares dropping 2.8% on Read more…
Download PDF Introduction When underwriting any debt investment, two fundamental questions must be asked: will the borrower be able to repay us? And if not, can we enforce claims over the debtor’s assets? In this article we will be discussing the increased aggression of claim enforcement- not on the company- Read more…
Download PDF Introduction After a challenging 2023, in the first two quarters of 2024, the Equity Capital Markets activity has been recovering. As of May 2024, the ECM volume YTD accounted for $108bn, compared to $171bn for the whole 2023. Moreover, since the beginning of the year, convertibles were issued Read more…
Download PDF Introduction Since its initial birth in medieval ages, and its formal establishment in the 20th century, in the past fifty Islamic finance has seen tremendous growth. In recent times Shari’ah-compliant bonds have been issued to many countries worldwide, including Nigeria, United Kingdom, and Malaysia. Nowadays, the Maldives are Read more…
Download PDF Abstract In this study, we propose a two-step methodology for the creation and optimization of investment portfolios utilizing machine learning techniques. Our analysis focuses on S&P 500 stocks from 2008 to 2022, incorporating fundamental data, stock prices, and macroeconomic variables as features in our models. The initial phase Read more…