Ownership in Tesla hits record levels among Global managers. Of the 371 Global equity funds in our analysis, a record 15.1% now have exposure to the stock. Ownership in Tesla hits record levels among Global managers. Of the 371 Global equity funds in our analysis, a record 15.1% now have exposure to the stock. GARP managers are the most aggressively allocated, with a 0.42% holding on average, though the larger individual positions are held by Growth and Aggressive Growth strategies. Despite this record, Tesla remains under-owned by Global active managers compared to large cap peers, and is the second largest underweight in the World By Steven Holden - https://www.smartkarma.com/profiles/steven-holden?utm_source=tiger_community On Tesla Motors (TSLA US) - https://www.smartkarma.com/entiti

⬆ $Golden Energy & Resources(AUE.SI)$ - A bump is warranted due to four factors  - an unattractive distribution cash alternative, a decline in GEMS shares, an unfavourable FX trend and an increase in Stanmore shares. Continue reading on Smartkarma:- https://www.smartkarma.com/insights/golden-energy-ger-sp-the-disconnect-between-the-offer-and-underlying-assets?utm_source=tiger_community By Arun George, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/arun-george?utm_source=tiger_community On Golden Energy & Resources (AUE.SI):- https://www.smartkarma.com/entities/united-fiber-system-ltd?utm_source=tiger_community

The company is scheduled to start two phase 2 trials for its lead asset, with first results expected in mid-2023. Investors, with high-risk appetite can go for this stock ahead of key milestones. Innate Immunotherapeutics (ATX AU) is an Australian pharmaceutical company advancing a pipeline of focal adhesion kinase (FAK) inhibitors for cancer and fibrosis. The company’s primary focus for 2022 is on initiating phase 2 clinical trials in pancreatic cancer and, in the second half of the year in lung fibrosis. With latest quarter’s cash burn of AUD0.94 million and cash balance of AUD16.2 million, the company is well-positioned to fund its near-term R&D activities. By Tina Banerjee - https://www.smartkarma.com/profiles/tina-banerjee?utm_source=tiger_community On Innate Immunotherapeutics

As the US dollar approaches its highest level in a decade, I reiterate my view of the dollar remaining strong in the near term. As the year progresses, I expect the dollar to weaken. As the US dollar approaches its highest level in a decade in line with my expectation, I reiterate my view of the dollar remaining strong in the near term. The dollar spike coincides with the rise in US rates volatility, which makes sense as the market is trapped between Fed tightening and risk aversion arising from rising recession probability. As the year progresses, I expect the dollar to weaken and the environment to turn supportive of EM currencies. Until then, I recommend relative-value trades and hedging with the euro. By Gautam Jain, PhD, CFA - https://www.smartkarma.com/profiles/gautam-jain-phd-cfa?

I'm still not even remotely a buyer of this strategy. Arguably that "store of value" bet paid off in late 2020. But it hasn't worked for near on 17 months. Shares are down 37% YTD.  Avoid. Microstrategy Inc Cl A (MSTR US) reported a net loss of $155.6mn in the fourth quarter, compared to the net loss of $124.3mn in the 4Q21.  MSTR took a non-cash digital asset impairment charge of $170.1mn in the first quarter, up from $146.6mn in the 4Q21.  A bet on MSTR is a bet on bitcoin. Yet MSTR is down 37% YTD, compared to ~20% for bitcoin.  By David Blennerhassett - https://www.smartkarma.com/profiles/david-blennerhassett?utm_source=tiger_community On Microstrategy Inc Cl A (MSTR US) - https://www.smartkarma.com/entities/microstrategy-inc-cl-a?utm_source=tiger_community

The Euro area's Q2 inflation outlook has eased with energy in recent weeks, but core strength means it is still on track to beat the ECB’s forecast by almost 2pp. We expect it to hike in Sep-22. EA inflation increased again in Apr-22 to 7.5%, extending the trend to a fresh high. Surprisingly intense core pressures offset energy price declines. Upside news was relatively broad-based for our forecast, albeit with Spain far weaker than the consensus expected amid deep energy price declines. The Q2 inflation outlook has eased with energy, but it is still on track to beat the ECB’s forecast by almost 2pp. We still expect it to hike in Sep-22. By Phil Rush - https://www.smartkarma.com/profiles/phil-rush?utm_source=tiger_community On Macroeconomics - https://www.smartkarma.com/collections/macro

It has been one of the worst starts to the year for active EM managers in over a decade. We analyze recent performance, attribution and how this year fits in to the longer-term picture. Average returns among GEM active managers came in at -7.02% for April, lower than the MSCI EM Index by -1.46% with 21.2% of funds outperforming. This year’s underperformance of -3.69% ranks as the worst start to the year for over a decade, worse than the first 4 months of both 2009 (-2.70%) and 2015 (-2.71%). Russian Financials (overweight) and Saudi Arabian Financials (underweight) accounted for nearly 1% of the performance deficit, with Singapore Comm’ Services, Taiwan Technology and Indian Utilities further dragging on relative returns. By Steven Holden - https://www.smartkarma.com/profiles/steven-hold

⬆ $Micron Technology(MU)$ - Relative valuation and inventory management appears to favor Micron. Nanya Technology's inventory days blow-out increases risk of write-downs impacting its next earnings. Continue reading on Smartkarma:? https://www.smartkarma.com/insights/memory-monitor-long-micron-vs-short-nanya-technology-nanya-relatively-over-valued?utm_source=tiger_community By Vincent Fernando, CFA, Insight Provider on Smartkarma:? https://www.smartkarma.com/profiles/vincent-fernando-cfa-f29d1c28-fc02-4296-afcd-5e900f012d86?utm_source=tiger_community On Micron TechnologyMU):? https://www.smartkarma.com/entities/micron-technology-inc?utm_source=tiger_community

JD.com saw a huge swing of 700 million shares into CCASS from outside of CCASS. This is much less ominous than it looks. It is almost certainly housekeeping. Today, CCASS data showed that 700,000,047 Class A Shares of JD.com Inc. (9618 HK) popped into existence in CCASS (from outside of CCASS the day before). Poof! They showed up in Deutsche Bank's CCASS Participant account. Just like the 600,000,000 Class A Shares which popped in on 15 December 2021.  There's a thing here, and there are things going on in the background, but the things in the foreground are not as menacing as they appear. I explore and explain. By Travis Lundy - https://www.smartkarma.com/profiles/travis-lundy?utm_source=tiger_community On JD.com Inc. (9618 HK) - https://www.smartkarma.com/entities/jd-com-inc?utm_s

⬆ $Kraft Heinz Co(KHC)$ - Kraft Heinz saw strong revenue momentum in the last quarter and managed to deliver an all-around beat with a good growth in base volumes. The... Continue reading on Smartkarma:? https://www.smartkarma.com/insights/the-kraft-heinz-company-major-drivers?utm_source=tiger_community By Baptista Research, Insight Provider on Smartkarma:? https://www.smartkarma.com/profiles/baptista-research?utm_source=tiger_community On Kraft Heinz CoKHC):? https://www.smartkarma.com/entities/kraft-heinz-co-the?utm_source=tiger_community

Chongqing Hongjiu Fruit (CHJF) is looking to raise up to US$100m in its upcoming Hong Kong IPO. CHJF is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. Chongqing Hongjiu Fruit (CHF HK) is looking to raise up to US$100m in its upcoming Hong Kong IPO.  Chongqing Hongjiu Fruit (CHJF) is a multi-brand fresh fruit distributor in China with an end-to-end supply chain. They have 1.0% market share as China's second largest fruit distributor. While CHJF is already profitable, its long cash conversion cycle has been straining its balance sheet as the company tries to scale up. Full analysis here:- https://www.smartkarma.com/insights/chongqing-hongjiu-fruit-pre-ipo-lack-of-moat-despite-long-operating-history-and-growth-in-scale?utm_source=tiger_community By Eth

Over the weekend we outlined Friday's downturn in defensive sectors and the crowded commodity unwind to unfold led by the AUD support break. Over the weekend we outlined Friday's downturn in defensive sectors and the crowded commodity unwind to unfold led by the AUD support break. Resources plays, base metals, steel, gold and to a lesser extent energy are all seeing mounting sell pressure with impulsive downside moves. Key support breaks will damage breadth. Safe havens coming under pressure as markets enter a more mature stage of a decline, often leads to bigger out of range moves and varying degrees of panic selling. By Thomas Schroeder - https://www.smartkarma.com/profiles/thomas-schroeder?utm_source=tiger_community On BHP Group Ltd (BHP AU) - https://www.smartkarma.com/entities/bhp-g

DND's lower offer of A$4.30 smacks of opportunism. The Board should reject the lower offer and instead go it alone and reignite interest from past suitors. Dye & Durham/DND has proposed to lower its offer from A$5.50 to A$4.30 per share. The Link Administration (LNK AU) Board will provide shareholders with an update next week. DND's justification for a lower offer based on the potential undertaking to the ACCC and the current state of the financial markets smacks of opportunism.     The proposed lower bid offers no premium to our valuation range or the undisturbed price. The Board should reject the lower offer and instead reignite interest from past suitors.  Full analysis here:- https://www.smartkarma.com/insights/link-s-lower-offer-of-a-4-30-from-dnd-fails-to-excite?

Uju Holding raised US$103m from its Hong Kong IPO in Nov 2021, where the IPO had been priced at the bottom end. The cornerstones and Pre-IPO investors' stake are coming up for lockup expiry. Uju Holding raised US$103m from its Hong Kong IPO in Nov 2021, where the IPO had been priced at the bottom end. The offering was only mildly oversubscribed and the two cornerstones in the deal, Bytedance and Green Better (Xiaomi), had combined to subscribe to 12.6% of the offer shares The cornerstones and Pre-IPO investors' stake are coming up for lockup expiry. The latter will see half of their stakes unlocked, with the remainder locked up for another six months. By Clarence Chu - https://www.smartkarma.com/profiles/clarence-chu?utm_source=tiger_community On Uju Holding (1948 HK) - https://www.smart

⬆ $China Unicom Hong Kong(00762)$ - China Unicom’s 2022 results were largely in line with our expectations with decent growth in service revenue, driven by strong growth in industrial internet and stable growth in mobile revenue. Continue reading on Smartkarma:- https://www.smartkarma.com/insights/china-unicom-762-hk-in-line-results-foster-resilient-growth-trend?utm_source=tiger_community By China Tonghai Securities Research, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/china-tonghai-securities-research?utm_source=tiger_community On China Unicom Hong Kong (00762):- https://www.smartkarma.com/entities/china-unicom-hong-kong-ltd?utm_source=tiger_community

⬆ $Atour Lifestyle Holdings(ATAT)$ - The strong travel demand in Jan. and Feb. had pushed up the industry-wide ADR nearing the 2019 level due the temporary hotel shortage, Atour especially benefited from the trend. Continue reading on Smartkarma:- https://www.smartkarma.com/insights/atour-lifestyle-atat-us-target-price-change-strong-recovery-bodes-well-for-1q23?utm_source=tiger_community By Shawn Yang, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/shawn-yang-0668bbf2-2f7c-4383-83ed-5389f1dd9587?utm_source=tiger_community On Atour Lifestyle Holdings (ATAT):- https://www.smartkarma.com/entities/atour-lifestyle-holdings-ltd?utm_source=tiger_community

⬆ $Taiwan Semiconductor (TSMC) - ADR(TSM)$ - TSMC has normalized; and reports are that it may launch a Singapore-based 12-inch semiconductor fab. Chunghwa swings back from extreme discount. Continue reading on Smartkarma:- https://www.smartkarma.com/insights/taiwan-dual-listings-tsmc-normalizes-umc-chipmos-compelling-discounts?utm_source=tiger_community By Vincent Fernando, CFA, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/vincent-fernando-cfa-f29d1c28-fc02-4296-afcd-5e900f012d86?utm_source=tiger_community On Taiwan Semiconductor (TSMC) - ADR (TSM):- https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr?utm_source=tiger_community

⬇ $Sembcorp Marine(S51.SI)$ - Last week, notable developments occurred in Event-Driven (Sembcorp Marine, Halcyon, Boustead, Jiangnan, Techtronic, Fujitec, Nitro, Pushpay, Origin) and ECM (Star Entertainment, Pertamina Geothermal). Continue reading on Smartkarma:? https://www.smartkarma.com/insights/weekly-deals-digest-26-feb-sembcorp-marine-jiangnan-origin-energy-nitro-boustead-fujitec?utm_source=tiger_community By Arun George, Insight Provider on Smartkarma:? https://www.smartkarma.com/profiles/arun-george?utm_source=tiger_community On Sembcorp MarineS51.SI):? https://www.smartkarma.com/entities/sembcorp-marine-ltd?utm_source=tiger_community

⬆ $Arlo Technologies Inc(ARLO)$ - ARLO is now focused on winning customers at the point of sale through lower prices and it is evident the strategy worked in the fourth quarter. Total paid subscribers continue to trend higher Continue reading on Smartkarma:- https://www.smartkarma.com/insights/arlo-profitability-back-in-view?utm_source=tiger_community By Hamed Khorsand, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/hamed-khorsand?utm_source=tiger_community On Arlo Technologies Inc (ARLO):- https://www.smartkarma.com/entities/arlo-technologies-inc?utm_source=tiger_community

WTI break below 116 wedge support. Fresh long support at 105/108. Oil still looks crowded with shakeout risk if a recovery fails under 115. WTI break below 116 wedge support. Fresh long support at 105/108. Oil still looks crowded with shakeout risk if a recovery fails under 115. Two trade set ups for oil outlined below. Long from 108/105 to test 115 and a short near 115. Energy is the last pillar of strength with exodus risk. Gold short below bear wedge valid to 1,790/70 to turn long. Copper faces a break below 4.05 floor support (demand constraint). Yield and USD uptick pressure this week. Full analysis here:- https://www.smartkarma.com/insights/wti-support-breach?utm_source=tiger_community By Thomas Schroeder, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/thomas-