Analysis of companies with a macroeconomic perspective
This section is dedicated to the analysis of companies.It is split into two parts based on the characteristic of the analysis. Additionally, there is a section to explain the position that have been closed.
Portfolio section includes Background of the company + Main activities + Investment thesis + Risk + Valuation
Watchlist section includes Core business + Performance + Why we think that it is an interesting company + Market consensus.
Portfolio
Currently, the portfolio is composed by eight companies grouped in three main sectors: Infrastructure, Renewable Energy and Technology
Infrastructure & Natural Gas
Main LNG exporter in the US. It has 2 liquefaction facilities (Sabine pass and Corpus Christi).
Golar is one of the world’s largest operators of marine-based LNG midstream infrastructure.
New Fortress is a company which is building power plants powered by LNG in emerging countries.
Renewable Energy
Technology
MasterCard is a technological company that provides the infrastructure needed to make electronic payments.
Gigas Hosting is a Spanish micro-cap focused on cloud hosting. It has presence in Spain, Ireland and LatAm.
Watchlist
Apart from the core analysis section, we are also building a “soft analysis” for companies on the watchlist. In this section, there is the basic information about the core business of the company, how it is performing and why we believe that it is an interesting company to have in the watchlist. As it is explained in the Home page, the analysis of new opportunities is the consequence of the macroeconomic analysis. Consequently, the companies in the watchlist are usually grouped by sectors. As once the sector is identified, more than one company is usually selected.
If in the coming months, MORAM decided to take a position in the company, a complete analysis will be developed. The company will be moved to the portfolio section and it will be updated quarterly.
Exits
These are companies that were in the portfolio but we decide to close the positions. Each one of them contains a brief summary of the operation as well as the reasons to close the position.
