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  • Malta in the making

    Malta in the making

    A first of its kind legal framework regulating cryptocurrencies and distributed ledger technologies, consisting of three separate pieces of legislation, has finally come into effect. More than a year from the initial inception of the legal...

  • Change of control clause

    Change of control clause

    In a recently approved corporate admission document on the Prospects MTF, a “Change of Control” clause was included as part of the offering; a first in the local corporate bond market. This is commensurate with a push for features included in...

  • Adopting different management styles to generate investment returns

    Adopting different management styles to generate investment returns

    The process of investment management can take various forms, with the more traditional type taking either an active or passive approach in an attempt to generating investment returns. The passive approach generally consists of the process of...

  • It is the time in the market and not its timing

    It is the time in the market and not its timing

    It is a state of fact that the gains seen within the fixed-income asset class over the past years is one of the longest streaks, undoubtedly well described as a strong bull market. Market participants have been questioning, since mid-2013, whether...

  • Coming to terms with financial markets

    Coming to terms with financial markets

    Heading into the final straight of 2018, with the final quarter of the year merely a few trading sessions, it is important for market participants across all the capital markets spectrum, asset managers, advisors and investors alike, such as...

  • Credit impacted by ongoing macro and political issues in 2018

    Credit impacted by ongoing macro and political issues in 2018

    At the turn of the year, we had anticipated 2018 to be a topsy-turvy for credit, and anything short of that would have, at least for us, taken us by surprise. So far, this year has lived up to its expectations and is proving to be the most...

  • Jackson Hole keeps markets looming

    Jackson Hole keeps markets looming

    August has been an uncharacteristically eventful month this year as fears surrounding imminent budgetary concerns in Italy and weakness in a handful of Italian banks, coupled with the crisis in Turkey, have resulted in a marked increase in risk...

  • Turkey and the recent market movements

    Turkey and the recent market movements

    In the initial months of the year we had predicted that 2018 would be, a difficult year for investors and the word volatility will be the order of the day. Many market participants, including us, were aware that the prime concern were the...

  • It's all gone cold Turkey

    It's all gone cold Turkey

    The summer months for global capital markets, particularly the fortnight over mid-August are usually commensurate with low levels of investor activity, low trading volumes, low levels of volatility. We call it the lull of the summer months, where...

  • Volatile session for BOV shares

    Volatile session for BOV shares

    Following yesterday’s decline of 1.6%, the MSE Equity Price Index rebounded by 1.1% to 4,373.547 points today, driven by the strong gains in the share prices of BOV (+5.2%) and MIA (1.9%) which outweighed declines in three other shares. Trading...

  • Following volatile period, is it time to dip in?

    Following volatile period, is it time to dip in?

    If we thought that the 2018 was going to be a continuation of the performance registered during 2016 and 2017, we were mistaken. 2018 has been a topsy-turvy year so far, and that’s putting it rather mildly. Markets corrected in a magnitude few...

  • Hold recommendation on GO plc

    Hold recommendation on GO plc

    The equity research team at Calamatta Cuschieri recently made available to its clients a report on GO plc (GO), whereby it was given a “HOLD” recommendation with a one-year target price of €3.52, giving a potential capital upside of 2.8% to the...

  • Beta in volatile markets

    Beta in volatile markets

    Many might not be familiar with the theoretical financial terms beta and alpha, however both are very important in guiding investors. Beta is simply the sensitivity of an asset class or sector to the market as a whole. In simple terms, it is the...

  • Weibo Corp – A new equity on our list

    Weibo Corp – A new equity on our list

    We started coverage of Weibo Corporation with an overweight recommendation and a price target of $116 per share. Weibo will issue Q2 2018 results on 08/08/2018. We see the recent weakness in the share price as a buying opportunity. Following a...

  • A guide to Malta’s new regulatory framework for cryptocurrencies

    A guide to Malta’s new regulatory framework for cryptocurrencies

    The MFSA has, for the past months, been actively working on a framework that supports innovation and new technologies in the field of virtual currencies. It is the MFSA’s policy that the regulatory framework in this field should be robust and one...

  • Why is financial education important?

    Why is financial education important?

    Those who know me well know that, for a number of years now, I have been opining on how I strongly believe that financial education is becoming ever more critical in this day and age, not only for investment purposes but also for our day-to-day...

  • The inflation preposition – a big shift?

    The inflation preposition – a big shift?

    Undoubtedly, rising inflation expectations had their fair share in negatively affecting spreads, with bond yields rising across the globe over recent months. To many market participants this comes to no surprise given the uptick in global growth...

  • Royal Dutch Shell shares – remaining overweight in the oil & gas sector

    Royal Dutch Shell shares – remaining overweight in the oil & gas sector

    Royal Dutch Shell sits on an oil and gas throne higher than that of Exxon Mobil. The oil supermajor has worldwide proved reserves of 13.2 billion barrels of oil equivalent. Operating in over 70 countries, Royal Dutch Shell pumps out 3.7 million...

  • Key traits for the modern investor

    Key traits for the modern investor

    Putting it mildly, there are a handful of textbooks and articles written on what it takes to become a successful investor. There are a number of traits which make some investors more successful than others – for the inexperienced investor,...

  • What drives the price of an equity?

    What drives the price of an equity?

    Recently I was posed a question about what drives the price of an equity. Despite equities forming part of most of our portfolios, and constitute a huge part of global wealth storage and generation you would be surprised at how different people’s...