Weekly research notes covering the full spectrum of asset classes

The Italian Referendum

July 11, 2017 /Marco Fraire

A Recap of the Situation On December the 4th , Italians will vote for or against a constitutional referendum which will transform their parliament’s structure from a perfect bicameralism to an imperfect one. Italy happens to be the only country in the world that has two chambers: the senate and the chamber of deputies exercising […]

Interview with Paolo Gallo

July 11, 2017 /Marco Fraire

Today I met Paolo Gallo, a Bocconi alumnus turned professor. What’s so special? He has worked in more than 70 different countries and interviewed more than 10,000 people. He has worked for prominent institutions such as such as Citigroup, the World bank and now the World Economic Forum, of which he is the head of […]

Moneta Money Bank

July 11, 2017 /Mate Rimar

Although it ranks as the no.6 Czech bank by assets, Moneta has the fourth largest distribution network, spread evenly across the country, giving it access to 1 million clients or 10% of the population. The bank is the second-largest player in the consumer loan market, with an 18% share. The loan book is evenly split […]

The Good, the Bad and the Ugly– Welcome to Nigeria

July 11, 2017 /Mate Rimar

This report is dedicated to a Nigerian stock operator. As we all know, Nigeria is in a recession: the economy is unstable, bank credit is contracting and bad loans are about to spike The contrarian investor deep within us likes this, are there any opportunities in the Nigerian stock market? Maybe… The Bad The main problem with Nigeria’s economy […]


July 11, 2017 /Daniel Leach Canibano

Oil – an already speculative and highly volatile market – has been making the news all too frequently over the last two years. With production levels at record highs and prices at even more record lows, what is going on? The madness started mid-2014 when members of the OPEC – an organisation made of 14 of the worlds […]