The main purpose of the following Special Report is to understand how bear and bull markets develop over time and how it is possible to forecast their path. With respect to forecasting bear markets, our focus will be on non-parametric models developed following the algorithms of Bry and Boschan (1971). Read more…
This article will introduce an unconventional way to profit when interest rates rise using inverse ETFs. We will show the upsides and downsides of these tools, focusing on how they could be used in today’s American market. Inverse ETFs could be a useful tool to deal with the possible future Read more…
United States On the week ended November 18th, stocks continued their post-election rally. Investors appear optimistic of President-Elect Donald Trump’s proposed expansionary fiscal policies. The Dow Jones Industrial Average ended a seven-trading-day post-election rally on Wednesday, during which it gained more than 5.7% reaching a new all-time high. The S&P Read more…
Samsung Electronics Co Ltd (005930:KSE) – market cap as of 18/11/2016: $188.98bn (KRW223.117tn) Harman International Industries Inc. (HAR:NYSE) – market cap as of 18/11/2016: $ 7.622bn Introduction On November 14, Samsung Electronics Co. announced the acquisition of Harman International Industries Inc. for a total equity value of approximately $8bn, and Read more…
Oracle Corporation (ORCL) – market cap as of 18/11/2016: $165.25bn NetSuite Inc. (N) – market cap as of 18/11/2016: $7.36bn Introduction On July 28, 2016, Oracle Corporation announced that it entered into an agreement to purchase NetSuite, in a transaction valued at approximately $9.3bn. The deal values NetSuite at $109 Read more…
Introduction On November 14, 2016, Perella Weinberg Partners LP announced it was acquiring Tudor Pickering Holt & Company LLC. As a result of the transaction, Tudor will become a subsidiary of Perella but its energy business – the real heart of the deal, adding 2 billion to Perella Weinberg’s Asset Read more…
The focus of this article will be on the Argentinian government debt and potential upsides and downsides it faces. We will examine the attractiveness of their fixed income market by observing the current political situation in the country, the performance of neighbor countries as well as the global economic outlook. Read more…
United States In the US, as elsewhere in the world, the markets were driven by the results of US elections. The victory of Donald Trump boosted equity markets. Indeed, The Dow Jones Industrial Average soared to new heights, adding 5.4% for the week which is its biggest weekly gain since Read more…
In this article, we will provide an overview on momentum investing, explaining what the strategy is and how it works. We will provide historical values that shows that strategy generated positive returns in the past but also negative returns if the most recent period is observed. What is it? In Read more…
Introduction Chinese buyers are becoming increasingly important in worldwide M&A activities. Their deal volume has increased from $259bn in 2013 to $735bn in 2015, of which $61bn were closed cross-border transactions. In 2016 the numbers have considerably increased: announced cross-border activity reached $96bn in Q1 and the up-to-date expected volume Read more…
The Blackstone Group LP (NYSE: BX) – market cap as of 11/11/2016: $28.95bn TeamHealth Holdings (NYSE: TMH) – market cap as of 11/11/2016: $3.07bn Introduction On the 31st of October 2016 Team Health Holdings Inc. announced that the company has reached an agreement to be acquired by a group of Read more…
Nippon Yusen K.K. — market cap as of 11/11/2016: ¥326.51bn (€2.94bn) Mitsui O.S.K. Lines, Ltd. — market cap as of 11/11/2016: ¥320.87bn (€2.89bn) Kawasaki Kisen Kaisha, Ltd. — market cap as of 11/11/2016: ¥225.45bn (€2.03bn) Introduction On October 31, Nippon Yusen K.K., Mitsui O.S.K. Lines, and Kawasaki Kisen Kaisha reached Read more…
The US Electoral System In the US, the race for presidency is a long process that includes primaries, caucuses and national conventions, in which the parties’ candidates are determined. The main popular vote on who is going to be president of the US is called general election and will take Read more…
The famous Black-Scholes model is a mathematical model used for pricing financial derivatives. It is particularly useful because it offers an explicit formula for the value of a European option in terms of time to expiry of the contract T, risk-free interest rate r, strike price of the option K, Read more…
United States On the week ended November 4th, election uncertainty overshadowed improving fundamentals and sent US stocks to their ninth consecutive decline. Over the week, the Dow Jones Industrial Average declined -1.0% to 17978, the S&P500 Index declined -1.4% to 2097.40, and NASDAQ declined -2.1% to 5080. The last heavy Read more…