2018 Tentative Outlook – An Eye On The Future And On The Past

In this article we would like to assess the current year from a macroeconomic as well as from a market perspective. 2017 – The Year Almost Behind Us So far, 2017 has been characterized by: Synchronized global growth reaching 3,7% Equities (+17,3%) outperformed bond (+2,6%) Sector-by-sector speaking healthcare (+19,3%) and tech (+36,6%) over-performed global markets […]

Market Recap 03-12-17

United States US stocks closed mostly higher on the week ended December 1, 2017. The Dow Jones Industrial Average recorded its best weekly gain for the year, gaining 673.60 points (+2.9%) to close at 24,231.59. The S&P 500 Index gained 39.80 points (+1.5%) to close at 2,642.22, while the Nasdaq index recorded a loss of […]

Trading the Dispersion: chapter III

Trading the Dispersion: chapter III Here is the final part of our series about the strategy known as dispersion trading. The article will first focus on an additional dispersion indicator we will employ to time the entry and exit points of our strategy. Then, we will derive the optimal number of portfolios of options for […]

Creating today’s Media Powerhouse: Meredith to buy U.S. publisher Time in Koch-backed Deal

  Meredith Corporation (NYSE:MDP) – market cap as of 02/12/2017: $2.96bn Time Inc. (NYSE:TIME.K) – market cap as of 02/12/2017: $1.85bn Introduction On the November 26, 2017, Meredith Corporation entered into a binding agreement to acquire Time Inc., Meredith’s former rival and one the biggest incumbents in the media sector, for a $2.8bn. The bidder […]

Cerberus buys major share in BBVA’s real estate assets riding the wave of the Spanish roaring housing market

Banco Bilbao Vizcaya Argentaria S.A. (BBVA:MCE) – market cap as of 1/12/2017: €47.17bn Introduction On November 29, 2017, it was announced that BBVA had sold to the American fund Cerberus the bulk of its real estate business in Spain. Through this operation, the Spanish bank will reduce by 70% its gross property exposure, which currently […]

Online-to-Offline: Alibaba joins the trend with $2.88bn investment in Sun Art

Sun Art Retail Group Ltd (HKG: 6808) – Market Cap as of 02/12/17: $74.70bn Alibaba Group (NYSE: BABA) – Market Cap as of 02/12/17: $447.20bn Introduction On November 19, 2017, the Chinese online giant Alibaba acquired a 36.16% stake in Sun Art, an important player in the Chinese offline retail market. A unit of Alibaba […]