Download PDF USA It was a turbulent week for equities due to a flare-up in global coronavirus cases and to the fact that President Joe Biden will seek an increase in the tax on capital gains to 39.6% for those Americans earning more than $1 million to fund education and Read more…
Download PDF USA Volatility is at lowest levels since pre-pandemic, indeed, the stock market ended a pretty stable week. Major indexes rose slightly mainly due to upbeat economic data and the beginning of the US earnings season, the financial sector kicked off with positive results from Wells Fargo, Goldman Sachs, Read more…
Download PDF Introduction Private credit denotes any debt or extended to privately held companies. It comes in many different forms, but often involves non-bank firms making loans to private companies or purchasing their debt on the secondary market in a variety of ways. To be more specific, Private credit, also Read more…
Download PDF As we said in the first part of the article, the market continually expands and contracts, going through periods of expansions, peak, decline and recovery. This, consequently, affects all type of assets, especially stocks that go through 4 different cycles. In the previous part, we discussed two of Read more…
Download PDF Introduction Covid-19 and the policy measures put in place to contain its spread have not only resulted in significant operational disruption for companies, e.g. reductions in demand from customers and failing supply chain with reduced inventories available for sale, but have also created serious issues for companies across Read more…
Download PDF Prosus NV (AMS:PRX) – Market Cap as of 16th April 2021 €156.3bn Tencent Holdings (0700.HK) – Market Cap as of 16th April 2021 HK$6,063.9bn Introduction Prosus NV, the international asset division of Naspers and one of the largest technology investors in the world, sold a 2% stake in Read more…
Download PDF As of the end of March, financial news worldwide began covering extensively the unraveling of Archegos Capital Management – a family office whose way of conducting business de facto resembled a hedge fund. The speed which characterized this process of wealth destruction and the spillover effects that it Read more…
Download PDF Introduction The first newspaper – a printed, dated, frequently published sheet containing news – was published in 1605 in Germany. In the following years many European countries started publishing newspapers with the first one written in English published in 1620 in Amsterdam. In the United States the first Read more…
Download PDF GlobalLogic – privately owned Hitachi – market cap as of 11th April: ¥4.97tn Introduction On March 31st 2021, Hitachi announced its agreement to acquire GlobalLogic, a Silicon Valley-based software services company, for $9.4bn. This transaction values GlobalLogic at 37x forecasted 2021 adjusted EBITDA, while giving it an equity Read more…
Download PDF Introduction While it is true that market conditions change, there is an underlying cyclical movement of capital through markets, sectors and individual stocks. The market is simply a function of supply and demand, with price as the final arbiter. Factors that affect supply and demand vary at different Read more…
Download PDF Deliveroo Holdings PLC (LON: ROO) – Market Cap as of 10/04/2021: £4.66bn Introduction On the 31st of March, Deliveroo made its debut on the London Stock Exchange. The deal had been presented as a sound victory for the post-Brexit London stock exchange and a path forward for future Read more…
Download PDF IPOs volatility Initial returns of initial public offerings are usually large, averaging 15.1% over the 1965–2004 period (excluding the dot.com bubble interval that would further boost IPOs returns). For investors that can buy IPOs at the offer price, IPOs are a good short-run investment. However, we should care Read more…
Download PDF USA US indexes ended the week higher, one of the reasons seems to be the minute of the Federal Open Market Committee, which spread positivity on the market. The S&P 500 and Nasdaq Composite kept their upward trend with the latter approaching the 14,000.00 level, a barrier surpassed Read more…
Download PDF What is a Hostile Takeover and How does it work? A Hostile Takeover is often the result of the rejection made by the Board of Directors (BoD) of Company B of a friendly acquisition bid made by Company A, as Company A might still try to take control Read more…
Download PDF Carrefour S.A. (EPA:CA) – Market Cap as of 31th March 2021 €12.5bn Atacadão (Carrefour Brasil) (BVMF: CRFB3) – Market Cap as of 31th March 2021 R$45.3bn Grupo BIG – Private Company Introduction On March 24th, 2021, Carrefour SA announced that its Brazilian arm has entered into an agreement Read more…