Research

Taking Stock of The Recovery

Raphael Fiorentino
Raphael Fiorentino
2nd December 2019 - 3 min read

Three things happened since our September note when we observed the possible emergence of a recovery trade in Developed Markets.

How “Nowcasting” Global Macro Expectations Improves Fundamental Stock Alpha “Forecasting”

Raphael Fiorentino
Raphael Fiorentino
25th November 2019 - 14 min read

Whoever wishes to foresee the future must consult the past; for human events ever resemble those of preceding times. This arises from the fact that they are produced by men who ever have been, and ever shall be, animated by the same passions, and thus they necessarily have the same results. Machiavelli

UK Equities: No Brexit Crystal-Ball? No Worries!

Raphael Fiorentino
Raphael Fiorentino
24th October 2019 - 3 min read

A quick look at the chart below shows the overall downtrend for UK vs. EU equities over the past 3 years, fueled by uncertainty over future UK-EU trade terms and the possibility of a disorderly Brexit.

Long-Haul Short

Raphael Fiorentino
Raphael Fiorentino
26th September 2019 - 2 min read

Thomas Cook is the biggest 2019 year to date contributor to Butterwire’s global index of short candidates. We retrace the nature and timing of insights provided on TCG over the past two years to illustrate the platform’s stock snapshot history feature.

Under the hood of Butterwire’s Digital Alpha Engine

Raphael Fiorentino
Raphael Fiorentino
23rd September 2019 - 5 min read

All the factors behind Butterwire’s computation of Fundamental (ie. Base) Scores are now available in the stock snapshot of any individual equity. We use our note on 3M’s profit warning last April to illustrate this new feature in the context of Butterwire’s overall research contribution.