Year in review 2022 at AlphaValue – what were we up to?
By way of a very unusual foreword, AlphaValue is unrepentant when it comes to offering a view of Nornickel. Post the outbreak of war, only…
2023 has not started on a rosy note for all the oil and gas equities in the AlphaValue universe. For some, the beginning of the new year has been tainted by a gloomier story. Capricorn, the UK-based independent O&G producer, has been the worst-performing equity in our Oils coverage
The Ukraine war led to a very difficult 2022 for fashion retailers. The loss of the Russian market, where European retailers enjoyed VAT benefits and…
Capricorn’s shareholders, led by activist investor Palliser, refused to support a tie-up with the UK-based and Africa-focused independent oil and gas producer Tullow Oil, leading…
We are excited to initiate coverage of D’Ieteren Group, a successful Belgian holding company with six subsidiaries and a total market cap of €10bn.
Banks accounted for 20% of the European market cap on the eve of the Global Financial Crisis. It took 14 years of slippage to see this figure seemingly bottom out at 7.5%. Banks are defined as 40 European banks, a stable lot, compared with 550 large issuers with a combined market cap of €11Tn.
We believe that research is an integral component of a functioning equity market. We believe that research should be thorough and sometimes even provocative. Have a look at the graphs below.
The outlook of the global economy in 2023 has been shady. 2022 was a relatively more stable year after the volatility of 2020 and 2021. However, this year was also turbulent with the Russian invasion of Ukraine, the energy crisis and from supply and demand issues spilling into labour markets. What is Alphavalue’s outlook for 2023?
Chargeurs is a French holding company which is in the midst of a strategic change. Chargeurs was originally a traditional holding company with five business units. Now it has reorganized its operations around two strategic segments – technology and luxury.