Weekly research notes covering the full spectrum of asset classes

Is greece about to fail again?

March 2, 2017 /Daniele Zagnoni

Thoughts on a country whose failure has been postponed too much Summer 2015. You are laying down on a lounger in one of the most gorge us beaches in a Greek island. The sea is blue and calm, the air smells of a mixture of sun screen and fruit and a warm wind blows your […]

Gentiloni’s Shopping List

February 24, 2017 /Marco Fraire

Background and MPS On Thursday, the Italian parliament approved a law that will create a 20 billion-euro fund that will be used to recapitalize troubled Italian banks. Montepaschi, predictably, will be the largest beneficiary after their failed capital raising program. The bank was projected to need EUR 8.8B; thanks to the conversion of the subordinated bonds into non-trading equity, the intervention of the state […]

The Curious Incident of the Oil Markets

February 24, 2017 /Daniel Leach Canibano

Has the market euphoria stemming from the OPEC deal gone to far? Since November, the oil markets have been wrought with ambiguity. The November OPEC agreement (read about it here : [link to OPEC deal article]) saw OPEC members accept an oil production cut that was meant to rise prices from their incredibly low USD […]

Merger post-mortem?

February 21, 2017 /Tasleem Ahmad

Kraft Heinz Company announced an offer to acquire 100% of Unilever Company on 2017-02-19. This, by our calculations, created a pre-merger speculation opportunity with a time horizon of one-month and a maximum expected annualized return of 300% measured in expected share price performance. Kraft Heinz then promptly withdrew the offer following serious backlash from the […]

Drilling for profits

February 18, 2017 /Tasleem Ahmad

Company Overview & Background Seadrill Partners LLC is an offshore deep-water drilling company listed on the New York Stock Exchange (NYQ). The company owns, operates, and acquires offshore drilling units. It provides operations in oil and gas exploration and development in regions across the world. Seadrill has a very concentrated revenue profile with BP accounting […]