BATON ROUGE, La.--(BUSINESS WIRE)--June 28, 2007--The Shaw Group Inc. (NYSE: SGR) today announced that Energy and Climate Advisors, a joint venture company formed by Shaw Capital, Inc. ("Shaw Capital"), and London-based EEA Fund Management Ltd. ("EEA"), has been selected to serve as the asset advisor for Leaf Clean Energy Company ("Leaf") (AIM ticker symbol: LEAF). Leaf is a clean energy asset company that began trading today on the London Stock Exchange AIM market with an initial market capitalization of approximately US$400 million. Under the Asset Advisory Agreement, Energy and Climate Advisors will assist Leaf in the sourcing of investment opportunities in the renewable and alternative energy markets and provide support to Leaf in the screening, evaluation, development, and operation and maintenance of assets acquired by Leaf.
J.M. Bernhard, Jr., chairman, president and chief executive officer of Shaw, referring to the appointment, said, "Shaw Capital is quickly establishing itself as an important component of Shaw's complete suite of solutions for its clients. Not only can Shaw provide traditional services such as evaluating project feasibility, providing engineering and construction services, and supporting the operation and maintenance of the asset; now, through Shaw Capital, we may also provide access to capital for projects through our relationships with entities like Leaf."
Dan Shapiro, president of Shaw Capital, added, "Shaw Capital's strategic relationship with EEA provides a unique combination of skills and experience for success in the robust new energy and emerging climate change markets, particularly those occurring within North America."
Simon Shaw (no relation to The Shaw Group), founder of EEA, said, "The U.S. is now in the embryonic stages of a fundamental long-term transition to a low carbon economy, which is a massive step forward for the clean energy sector. Together with our partners at The Shaw Group, we are well positioned to access project level opportunities within this sector."
The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure, and emergency response markets. A Fortune 500 company with nearly $5 billion in annual revenues, Shaw is headquartered in Baton Rouge, Louisiana and employs approximately 25,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's website at www.shawgrp.com.
Shaw Capital, Inc., through its partnerships and affiliates, provides access to over $1 billion of available capital for equity, mezzanine, and debt investment opportunities in the energy, chemicals, environmental, infrastructure, and related markets. Shaw Capital leverages Shaw's global platform, technical and operational acumen, and transactional capabilities to identify and execute on significant project investment opportunities.
London-based EEA was established in 2003 by Simon Shaw and manages a range of equity and climate-related funds with total assets under management in excess of US$1 billion. EEA advises on investments in energy and environmental markets and is the exclusive retained investment advisor to Trading Emissions PLC (AIM listed). EEA has unique experience in the climate change market through its management of Climate Exchange PLC, the financing vehicle for the Chicago and European Climate Exchanges, and also through the launch and management of Trading Emissions PLC.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans," or other similar expressions) and statements related to revenues, earnings, backlog, or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's web-site under the heading "Forward-Looking Statements". These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis visit our web site at www.shawgrp.com.
Wednesday, September 15, 2010
Shaw Capital Management - Investment Innovation & Excellence
By continually researching and evaluating market opportunities, investing defines those products that reflect your needs and focus our recommendations.
To understand your goals and needs, we answer questions regarding your current investment status and objectives.
The New Economy and the Internet have provided an explosion of knowledge and opportunity. But how to pull all the pieces of the puzzle together? What is required is a dedicated professional research staff documenting and correlating the many factors of the market on a daily basis, to watch for trends, changes in position, and breaking news.
Researchers at Shaw Capital Asset Management provide just this type of research and advisory leverage to make your goals a reality. The Shaw Capital Asset Management research team uses a leveraged knowledge strategy. Upon breaking news or changes in market stance, additional researchers are allocated to make early analysis of the situation. If the research team agrees that a trend is leading to imminent changes in the market or a specific offering, a full review of the situation is made and, if qualified, an opportunity is provided to our clients. It is this ability to allocate resources in a timely fashion to breaking events that allows us to leverage a small initial indicator into a well-researched opportunity for our investors.
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Special Situation opportunities often arise from many factors:
To understand your goals and needs, we answer questions regarding your current investment status and objectives.
- Is your wealth under invested, focused too highly in one area or non-liquid in existing businesses?
- Does your return balance with the risks in your investments?
- Do you have a specific time frame in which to meet certain goals?
- Does management of your portfolio leave balanced time for other activities and business?
- Do you have specific interest or knowledge in a particular industry that interests you?
The New Economy and the Internet have provided an explosion of knowledge and opportunity. But how to pull all the pieces of the puzzle together? What is required is a dedicated professional research staff documenting and correlating the many factors of the market on a daily basis, to watch for trends, changes in position, and breaking news.
Researchers at Shaw Capital Asset Management provide just this type of research and advisory leverage to make your goals a reality. The Shaw Capital Asset Management research team uses a leveraged knowledge strategy. Upon breaking news or changes in market stance, additional researchers are allocated to make early analysis of the situation. If the research team agrees that a trend is leading to imminent changes in the market or a specific offering, a full review of the situation is made and, if qualified, an opportunity is provided to our clients. It is this ability to allocate resources in a timely fashion to breaking events that allows us to leverage a small initial indicator into a well-researched opportunity for our investors.
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Special Situation Investments Shortened Time Frame of Results
The yields for Special Situation investments are usually higher than for long-term strategic capital investments. Risk factors also increase with these types of investments. The keys are timing, details revealed by research of related businesses and suppliers, and an overall evaluation of the situation. One thing is usually certain, and that is the shortened time frame of results. By sequencing or if available, overlapping several opportunities, the aggregate yield can excel beyond more common paths of investment.Special Situation opportunities often arise from many factors:
- Events A stock may be undervalued and is expected to rise due to an imminent turn of favourable events.
- Trading Indicators Stock that fluctuates significantly in daily trading. In this case, it is important to understand the reasons for the heavy trading and fluctuations, and see if surrounding factors point to a favourable end gain. If a temporary settling point occurs, this may lead to an additional opportunity for an undervalued situation.
Another factor is whether the fluctuation has crossed the threshold to become reported and market aware. The Shaw Capital Asset Management team of researchers use fast response time and look at many factors to fully qualify a special opportunity. - Fundamentals Fundamental analysis to determine the company's position in the market and recent announcements.
- Related Companies Follow-up research to supplier companies and affiliates to see if related announcements have been made such as pending orders or increased demand. An alternate catalyst for creating a special investment would be news of orders on hold creating a temporary negative market perception and a depressed and undervalued stock price.
- News Bad news temporarily depressing a stocks value with an anticipated upswing.
- Economic Sectors Surrounding factors in the economy or market segment indirectly affecting market performance. Is the company positioned to weather the storm and emerge prepared to take advantage of newly freed investment money?
- Inside News News of change in management or takeover bids. What effect will these changes have once they are completed?
- Insider Trading Transactions inside the company by officers. This insider trading on the open market is required by law to be disclosed to SEC. Such actions may signal imminent change in a companies operation and may by its nature trigger increase or decreases in value.
- Price History Especially when compared to competitors and industry averages, price history is a primary indicator. Is the stock currently undervalued but with strong fundamental factors signaling a likely recovery?
- Industry Share Viewed over time and relative to industry averages for growth, is the company ahead of growth, pushing the industry envelope, but perhaps behind in profits causing depressed value, all the while poising itself for an eventual recovery and dominant position?
- Management Discussions with management to determine in more detail and with greater understanding the current position.
- Financial Position A review of liabilities and collateral backing to evaluate the downside risk. Once the factors are determined and their relationship and timing to industry trends for the anticipated time for positive returns understood, the Special Situation investment is announced to participating customers in this area of opportunity.
Foreign Exchange Markets 2010: Shaw Capital Management
Sep 14, 2010 – The main feature of the foreign exchange markets over the past month has been the further sharp fall in the euro. There has been no real change in the background economic situation in the euro-zone; but there has been a serious deterioration in the financial background as doubts have increased about the ability of Greece and some other periphery countries to cope with their massive fiscal deficits and service their sovereign debts.
Foreign Exchange Markets 2010: Shaw Capital Management Korea: This is clearly leading to a withdrawal of international funds from the European capital markets, and is dramatically illustrated in the widening of yield spreads in the bond markets of member countries. There is still a general assumption that the stronger members will provide support for the weaker members if this proves to be necessary to prevent a default on sovereign debts.
But the uncertainties have been increased by conflicting statements from the European Central Bank and some politicians about the willingness to undertake such operations, and so investors and speculators have taken evasive action, and the euro has fallen by around 10% from its peak in early-December.
This fall has provided support for the other major world currencies, including the dollar; but the background situations in Japan, and in the UK, also provide reasons for concern, and so the currency markets remain in a very uncertain state.
Foreign Exchange Markets 2010: Shaw Capital Management - It is likely that the uncertainty will continue. The US economy is clearly recovering from recession; economic conditions in Japan are very weak, and Japan appears to face the possibility of a credit downgrade if it does not take steps to reduce its massive fiscal deficit; and there have already been warnings from Standard and Poor’s that the UK also faces the possibility of a credit downgrade if there are no convincing measures to reduce its huge fiscal deficit after the forthcoming general election. Prospects are therefore very difficult to assess; but our tentative conclusion is that the dollar will continue to “improve”, helped to a considerable extent by weaknesses elsewhere; and that this will allow market pressures to gradually subside as the global economic recovery continues through the year.
But the possibility of a major currency crisis cannot be ignored, especially if the debt problems in Greece and other periphery countries threaten to lead to the break-up of the single currency system in Europe. It is fortunate therefore that the available evidence on the performance of the US economy is more encouraging. Non-farm payrolls fell again in December by 85,000, but are expected to have increased in January; retail sales held up well in the pre-Christmas period; manufacturing output is improving, according to the latest report from the Institute of Supply Management; and even the housing market appears to be recovering.
This general situation is reflected in the first preliminary estimate from the Commerce Department of growth at a seasonally adjusted annualised rate of 5.7% in the final quarter of last year, a higher figure than the market had been expecting. Most economists therefore appear to be forecasting overall growth this year in the 2.5% to 3% range, after the estimated fall of 2.4% last year.
Foreign Exchange Markets 2010: Shaw Capital Management - The Fed is clearly in no hurry to tighten its present monetary stance. The statement after the latest meeting of its Open Market Committee was more upbeat about the prospects for the economy; but shortterm interest rates were left unchanged and close to zero, and there was a clear indication that they would remain at very low levels “for an extended period”.
The bank did state that it will discontinue most of its emergency lending programmes, and that it would end its purchases of mortgage securities in March; but there was no indication that it would be prepared to implement an “exit strategy” until there was convincing evidence of a sustainable economic recovery. It is also unlikely that there will be any early changes in fiscal policy.
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Foreign Exchange Markets 2010: Shaw Capital Management Korea: This is clearly leading to a withdrawal of international funds from the European capital markets, and is dramatically illustrated in the widening of yield spreads in the bond markets of member countries. There is still a general assumption that the stronger members will provide support for the weaker members if this proves to be necessary to prevent a default on sovereign debts.
But the uncertainties have been increased by conflicting statements from the European Central Bank and some politicians about the willingness to undertake such operations, and so investors and speculators have taken evasive action, and the euro has fallen by around 10% from its peak in early-December.
This fall has provided support for the other major world currencies, including the dollar; but the background situations in Japan, and in the UK, also provide reasons for concern, and so the currency markets remain in a very uncertain state.
Foreign Exchange Markets 2010: Shaw Capital Management - It is likely that the uncertainty will continue. The US economy is clearly recovering from recession; economic conditions in Japan are very weak, and Japan appears to face the possibility of a credit downgrade if it does not take steps to reduce its massive fiscal deficit; and there have already been warnings from Standard and Poor’s that the UK also faces the possibility of a credit downgrade if there are no convincing measures to reduce its huge fiscal deficit after the forthcoming general election. Prospects are therefore very difficult to assess; but our tentative conclusion is that the dollar will continue to “improve”, helped to a considerable extent by weaknesses elsewhere; and that this will allow market pressures to gradually subside as the global economic recovery continues through the year.
But the possibility of a major currency crisis cannot be ignored, especially if the debt problems in Greece and other periphery countries threaten to lead to the break-up of the single currency system in Europe. It is fortunate therefore that the available evidence on the performance of the US economy is more encouraging. Non-farm payrolls fell again in December by 85,000, but are expected to have increased in January; retail sales held up well in the pre-Christmas period; manufacturing output is improving, according to the latest report from the Institute of Supply Management; and even the housing market appears to be recovering.
This general situation is reflected in the first preliminary estimate from the Commerce Department of growth at a seasonally adjusted annualised rate of 5.7% in the final quarter of last year, a higher figure than the market had been expecting. Most economists therefore appear to be forecasting overall growth this year in the 2.5% to 3% range, after the estimated fall of 2.4% last year.
Foreign Exchange Markets 2010: Shaw Capital Management - The Fed is clearly in no hurry to tighten its present monetary stance. The statement after the latest meeting of its Open Market Committee was more upbeat about the prospects for the economy; but shortterm interest rates were left unchanged and close to zero, and there was a clear indication that they would remain at very low levels “for an extended period”.
The bank did state that it will discontinue most of its emergency lending programmes, and that it would end its purchases of mortgage securities in March; but there was no indication that it would be prepared to implement an “exit strategy” until there was convincing evidence of a sustainable economic recovery. It is also unlikely that there will be any early changes in fiscal policy.
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Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
Shaw Capital Management March Newsletter: Japanese Government Submits Budget for Next Fiscal Year
The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget amounting to ¥92.3 trillion, its first budget since its inauguration in mid-September. The budget was even larger than its counterpart for the current fiscal year — which was already a record if one includes the second supplementary stimulus package, approved last December. This was because of additional spending on child allowances, free senior high school education, cash subsidies to farmers, and higher payments to medical institutions to alleviate the shortage of medical doctors. Particularly noteworthy is the large amount devoted to social security, up to ¥27.3 trillion, which account for 51% of general public spending … the first time that the social security share has exceeded 50%. In marked contrast, public works investment, which has been cut back by almost 20%, amounts to ¥5.8 trillion, a record drop that symbolizes the DPJ’s philosophy of shifting money to people from public works... eightynine dam projects are likely to be frozen. At a news conference, Prime Minister Yukio Hatoyama described it as “a budget meant to safeguard the life of the people.” He also claimed that three reforms were incorporated in the architecture of the budget: first, the principle of a shift of priority “from concrete to people”; second, initiatives taken by politicians instead of bureaucrats; and third, securing transparency in the budget formulation process. Some creditable aspects notwithstanding, the budget bill appears to be overshadowed, as media reports made clear, by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent as recently pointed out by credit rating agency Standard & Poor’s which raised the prospect of a downgrade in Japan’s sovereign debt rating. “The budget bill appears to be overshadowed by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent.” “Japan’s economic policy flexibility has diminished as a result of increased fiscal deficits and government debt, persistent deflation and a prospect of continued sluggish economic growth”, analysts at the firm said in a note. “It’s impossible to keep tolerating this massive spending,” said Takeshi Minami , chief economist at Norinchukin Research Institute in Tokyo. “Japan’s fiscal health will continue to be exceedingly severe given revenue won’t grow and a stagnant recovery may require additional economic measures.” A major reason for the squeeze is a plunge in prospective tax revenues due to the economic downturn and the drop in corporate profits. Tax revenues for fiscal 2010 are estimated to fall to ¥37.4 trillion, the same level as 26 years ago, in the mid-1980s — while corporate tax revenues are expected to be half the amount in normal years. As a result, the government has to raise ¥44.3 billion in new government bonds, compared to ¥53.5 trillion in FY2009. This leaves the treasury dependent on debt for 48% of the total budget, up 10 percentage points. At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP. “At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP.” According to the new government, the economic policies adopted by the previous ruling party, the Liberal Democratic Party (LDP), failed on two fronts: initially boosting demand by increasing public investment, which was effective in the short term but not sustainable until the end of the 1990s. And later enhancing the supply side of the economy by deregulating the labour market and privatizing public entities, which simply widened the income gap within the economy, in the 2000s. However, the new budget was not well received by most observers. The announcement was rather sudden and lacked a comprehensive path to achieve the stated goals, they claim. Also, no reliable, specific incentives were offered, such as tax changes or deregulation that affect private sector behaviour. More importantly, given its enormous debt, the government has limited room to offer any incentives without jeopardizing other parts of the economy. However, there was no mention of these painful trade-offs. In addition, while the budget contains some signs of change, there is concern that it m
Friday, September 3, 2010
Government bond Markets: Shaw Capital Management February Newsletter: GoArticles.com
Our account forms and monthly research papers are available for download below. Other private research and confidential client documentation is available to our clients through their private pages. For more information, please contact your personal advisor.
Shaw Capital Management February Newsletter: Government bond Markets 3 of 3
Jun 17, 2010 – Shaw Capital Management Korea February Newsletter: Article three of three - The markets are assuming that the more powerful members of the eurozone will support the weaker members in order to prevent defaults that might threaten the single currency structure; but the yield spreads have widened considerably to reflect the increased risks. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. The gilt edged market has also come under pressure over the past month; short-term yields have remained basically unchanged, but there have been increases in medium and longer-term yields that has produced a much steeper yield curve.
Shaw Capital Management Korea February Newsletter: Article three of three - There has been evidence of a modest improvement in the economic background; and the Bank of England is proving to be a stabilising influence at a difficult time; but a very disappointing Pre-Budget Report has indicated that there will be no attempt to address the problems of the huge fiscal deficit until after the election. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. Funding pressures will therefore continued to increase; and so, although there does not appear to be any real danger that the UK might join the list of countries that could default on their sovereign debts, annual debt issues in excess of £200 billion cannot continue for long if this is to be avoided. It is no surprise therefore that investors have reacted by reducing their exposure to the market.
Shaw Capital Management Korea February Newsletter: Article three of three - There is still some doubt whether the UK economy has moved out of recession. The pace of contraction in the third quarter of the year has been slightly reduced, and since then the pace of job losses has declined, and consumer spending has held up fairly well. But business investment and manufacturing activity remains weak, and so there may have been no overall improvement in the final quarter of last year. The Bank of England has therefore kept short-term interest rates at 0.5%, and maintained its quantitative easing programme, and this has provided support for the market, since the bank has been a major buyer of gilts in recent months.
Shaw Capital Management Korea February Newsletter: Article three of three - However it has not been enough to prevent a very adverse reaction to the Pre-Budget Report from the UK Chancellor. The market did not really expect any significant action on the deficit ahead of the forth-coming general election; but was still surprised by the apparent lack of realism. The government is prepared to allow the deficit to continue to accumulate, and is relying on the gilt edged market to provide the funds to finance that deficit in the hope that this will enable it to win the election, and has produced no real indications of how the deficit might be reduced even after the election is over. It is not surprising therefore that investors have reacted by reducing exposure, that 10-year yields have risen to 4% and longer-term yields to 4.5%, and that there are even suggestions that the country could face a capital flight and a full-blown debt crisis in the coming months. We do not share these extreme views; but clearly the prospects for the market are very unattractive, and higher yields appear unavoidable. Investors have reacted by reducing exposure... and there are even suggestions that the country could face a capital flight and a fullblown debt crisis in the coming months.
Shaw Capital Management Korea February Newsletter: Article three of three - The Japanese bond market is basically unchanged over the past month; but there are fears that present yield levels are unsustainable. A sharp reduction in the growth estimate for the third quarter of last year, and weaknesses since then have raised the possibility of a move back into recession and a further period of deflation. The government has reacted by launching its fourth fiscal rescue package since the economic crisis began last year. It amounts to the equivalent of a further $81 billion to be spent in the regions and on subsidies for consumer durables, and is expected to lift the debt issuance this year to a record $835 billion, despite the indications that bond investors may be becoming increasingly unwilling to finance such a high level of new bonds, and the warning from the IMF that the government is risking a significant increase in debt funding costs. Since overseas involvement in the bond market is at a very low level, such a development is unlikely to affect bond markets elsewhere directly; but it could be a warning to other countries of the dangers of placing too much pressure on their own markets.
Shaw Capital Management Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management based in Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation;
Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
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Shaw Capital Management Korea February Newsletter: Article three of three - There has been evidence of a modest improvement in the economic background; and the Bank of England is proving to be a stabilising influence at a difficult time; but a very disappointing Pre-Budget Report has indicated that there will be no attempt to address the problems of the huge fiscal deficit until after the election. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. Funding pressures will therefore continued to increase; and so, although there does not appear to be any real danger that the UK might join the list of countries that could default on their sovereign debts, annual debt issues in excess of £200 billion cannot continue for long if this is to be avoided. It is no surprise therefore that investors have reacted by reducing their exposure to the market.
Shaw Capital Management Korea February Newsletter: Article three of three - There is still some doubt whether the UK economy has moved out of recession. The pace of contraction in the third quarter of the year has been slightly reduced, and since then the pace of job losses has declined, and consumer spending has held up fairly well. But business investment and manufacturing activity remains weak, and so there may have been no overall improvement in the final quarter of last year. The Bank of England has therefore kept short-term interest rates at 0.5%, and maintained its quantitative easing programme, and this has provided support for the market, since the bank has been a major buyer of gilts in recent months.
Shaw Capital Management Korea February Newsletter: Article three of three - However it has not been enough to prevent a very adverse reaction to the Pre-Budget Report from the UK Chancellor. The market did not really expect any significant action on the deficit ahead of the forth-coming general election; but was still surprised by the apparent lack of realism. The government is prepared to allow the deficit to continue to accumulate, and is relying on the gilt edged market to provide the funds to finance that deficit in the hope that this will enable it to win the election, and has produced no real indications of how the deficit might be reduced even after the election is over. It is not surprising therefore that investors have reacted by reducing exposure, that 10-year yields have risen to 4% and longer-term yields to 4.5%, and that there are even suggestions that the country could face a capital flight and a full-blown debt crisis in the coming months. We do not share these extreme views; but clearly the prospects for the market are very unattractive, and higher yields appear unavoidable. Investors have reacted by reducing exposure... and there are even suggestions that the country could face a capital flight and a fullblown debt crisis in the coming months.
Shaw Capital Management Korea February Newsletter: Article three of three - The Japanese bond market is basically unchanged over the past month; but there are fears that present yield levels are unsustainable. A sharp reduction in the growth estimate for the third quarter of last year, and weaknesses since then have raised the possibility of a move back into recession and a further period of deflation. The government has reacted by launching its fourth fiscal rescue package since the economic crisis began last year. It amounts to the equivalent of a further $81 billion to be spent in the regions and on subsidies for consumer durables, and is expected to lift the debt issuance this year to a record $835 billion, despite the indications that bond investors may be becoming increasingly unwilling to finance such a high level of new bonds, and the warning from the IMF that the government is risking a significant increase in debt funding costs. Since overseas involvement in the bond market is at a very low level, such a development is unlikely to affect bond markets elsewhere directly; but it could be a warning to other countries of the dangers of placing too much pressure on their own markets.
Shaw Capital Management Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management based in Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation;
Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
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Shaw Capital Management Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management based in Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation;
Shaw-capital.com - Shaw Capital Management Company News Section
Shaw Capital Management - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics
Shaw Capital Management - Investment Innovation & Excellence
Researchers at Shaw Capital Asset Management provide the research and advisory leverage to make your goals a reality.
By continually researching and evaluating market opportunities, investing defines those products that reflect your needs and focus our recommendations.To understand your goals and needs, we answer questions regarding your current investment status and objectives.
- Is your wealth under invested, focused too highly in one area or non-liquid in existing businesses?
- Does your return balance with the risks in your investments?
- Do you have a specific time frame in which to meet certain goals?
- Does management of your portfolio leave balanced time for other activities and business?
- Do you have specific interest or knowledge in a particular industry that interests you?
The New Economy and the Internet have provided an explosion of knowledge and opportunity. But how to pull all the pieces of the puzzle together? What is required is a dedicated professional research staff documenting and correlating the many factors of the market on a daily basis, to watch for trends, changes in position, and breaking news.
Researchers at Shaw Capital Asset Management provide just this type of research and advisory leverage to make your goals a reality. The Shaw Capital Asset Management research team uses a leveraged knowledge strategy. Upon breaking news or changes in market stance, additional researchers are allocated to make early analysis of the situation. If the research team agrees that a trend is leading to imminent changes in the market or a specific offering, a full review of the situation is made and, if qualified, an opportunity is provided to our clients. It is this ability to allocate resources in a timely fashion to breaking events that allows us to leverage a small initial indicator into a well-researched opportunity for our investors.
^^ back to top
Special Situation InvestmentsShortened Time Frame of Results
The yields for Special Situation investments are usually higher than for long-term strategic capital investments. Risk factors also increase with these types of investments. The keys are timing, details revealed by research of related businesses and suppliers, and an overall evaluation of the situation. One thing is usually certain, and that is the shortened time frame of results. By sequencing or if available, overlapping several opportunities, the aggregate yield can excel beyond more common paths of investment.Special Situation opportunities often arise from many factors:
- EventsA stock may be undervalued and is expected to rise due to an imminent turn of favourable events.
- Trading IndicatorsStock that fluctuates significantly in daily trading. In this case, it is important to understand the reasons for the heavy trading and fluctuations, and see if surrounding factors point to a favourable end gain. If a temporary settling point occurs, this may lead to an additional opportunity for an undervalued situation.
Another factor is whether the fluctuation has crossed the threshold to become reported and market aware. The Shaw Capital Asset Management team of researchers use fast response time and look at many factors to fully qualify a special opportunity. - FundamentalsFundamental analysis to determine the company's position in the market and recent announcements.
- Related CompaniesFollow-up research to supplier companies and affiliates to see if related announcements have been made such as pending orders or increased demand. An alternate catalyst for creating a special investment would be news of orders on hold creating a temporary negative market perception and a depressed and undervalued stock price.
- NewsBad news temporarily depressing a stocks value with an anticipated upswing.
- Economic SectorsSurrounding factors in the economy or market segment indirectly affecting market performance. Is the company positioned to weather the storm and emerge prepared to take advantage of newly freed investment money?
- Inside NewsNews of change in management or takeover bids. What effect will these changes have once they are completed?
- Insider TradingTransactions inside the company by officers. This insider trading on the open market is required by law to be disclosed to SEC. Such actions may signal imminent change in a companies operation and may by its nature trigger increase or decreases in value.
- Price HistoryEspecially when compared to competitors and industry averages, price history is a primary indicator. Is the stock currently undervalued but with strong fundamental factors signaling a likely recovery?
- Industry ShareViewed over time and relative to industry averages for growth, is the company ahead of growth, pushing the industry envelope, but perhaps behind in profits causing depressed value, all the while poising itself for an eventual recovery and dominant position?
- ManagementDiscussions with management to determine in more detail and with greater understanding the current position.
- Financial Position A review of liabilities and collateral backing to evaluate the downside risk. Once the factors are determined and their relationship and timing to industry trends for the anticipated time for positive returns understood, the Special Situation investment is announced to participating customers in this area of opportunity.
Shaw Capital Management News: Flex-Fuel Power Plants Now Opening In Brazil
(1888PressRelease) May 26, 2010 - National oil company Petrobras (NYSE: PBR) and American systems giant General Electric (NYSE: GE) pitched in resources to turn an existing 87 MW plant into a flex-fuel power station that can alternate between natural gas and ethanol (which are both considered alternative fuels, even though only one is renewable).
GE wants to see how its turbines can be adapted to work in flex-fuel plants in Brazil and in developed countries like Japan, where clean-burning power plants are gaining momentum.
Brazil's water-dependent hydroelectric infrastructure teeters during the dry season in places where natural gas isn't easily accessible. It just so happens that wind power peaks at the opposite time of the year as the water in running rivers that drives dam-based generation.
Ethanol and wind could supplant natural gas as the primary alternative source of electricity generation during the dry season in Brazil and President Luiz Inacio Lula da Silva said in the Brazilian press that Brazil could be selfsufficient in natural gas after several pre-salt (read: incredibly deep) offshore fossil fuel pockets are tapped.
That capacity is at least five years away. Ethanol is there now, and after wind power auctions started last December, 773 wind turbines will be turning across Brazil by 2012.
Shell, Petrobras, GE, and Cosan will surely push hard to get the government in Brasilia to initiate a nationwide "ethanol electricity" campaign to ensure that oil and automotive fuel aren't the key determinants of sugar ethanol's success.
As in so many other areas of the world, those communities that are now underserved by fossil fuels can benefit most from such clean energy advances.
The US Administration completed its revised Renewable Fuels Standard (RFS2). RFS2 will move towards a national goal of 26 billion gallons of biofuel production by 2022.
At Shaw Capital Management we give you the information and insight you need to make the right investment choices. We look forward to working with you and being the open architects of your financial well being.
Shaw Capital Management -
Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Our philosophy is simple: almost every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Before Shaw Capital launched the open architecture revolution, investors had to make the unhappy choice between selecting an advisor who was independent, but unsophisticated (the traditional pension and endowment consulting firms), or selecting an advisor who was sophisticated but had conflicting interests (global banks, trust companies, money management firms).
GE wants to see how its turbines can be adapted to work in flex-fuel plants in Brazil and in developed countries like Japan, where clean-burning power plants are gaining momentum.
Brazil's water-dependent hydroelectric infrastructure teeters during the dry season in places where natural gas isn't easily accessible. It just so happens that wind power peaks at the opposite time of the year as the water in running rivers that drives dam-based generation.
Ethanol and wind could supplant natural gas as the primary alternative source of electricity generation during the dry season in Brazil and President Luiz Inacio Lula da Silva said in the Brazilian press that Brazil could be selfsufficient in natural gas after several pre-salt (read: incredibly deep) offshore fossil fuel pockets are tapped.
That capacity is at least five years away. Ethanol is there now, and after wind power auctions started last December, 773 wind turbines will be turning across Brazil by 2012.
Shell, Petrobras, GE, and Cosan will surely push hard to get the government in Brasilia to initiate a nationwide "ethanol electricity" campaign to ensure that oil and automotive fuel aren't the key determinants of sugar ethanol's success.
As in so many other areas of the world, those communities that are now underserved by fossil fuels can benefit most from such clean energy advances.
The US Administration completed its revised Renewable Fuels Standard (RFS2). RFS2 will move towards a national goal of 26 billion gallons of biofuel production by 2022.
At Shaw Capital Management we give you the information and insight you need to make the right investment choices. We look forward to working with you and being the open architects of your financial well being.
Shaw Capital Management -
Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Our philosophy is simple: almost every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Before Shaw Capital launched the open architecture revolution, investors had to make the unhappy choice between selecting an advisor who was independent, but unsophisticated (the traditional pension and endowment consulting firms), or selecting an advisor who was sophisticated but had conflicting interests (global banks, trust companies, money management firms).
Shaw Capital Management News: Flex-Fuel Power Plants Now Opening in Brazil
On January nineteenth 2010, the primary ethanol-fired power plant whirred into action in Brazil. National oil company Petrobras (NYSE: PBR) and American systems giant General Electric (NYSE: GE) pitched in resources to flip an existing eighty seven MW plant into a flex-fuel power station that can alternate between natural gas and ethanol (that are both considered different fuels, while solely one is renewable). GE needs to see how its turbines will be custom-made to work in flex-fuel plants in Brazil and in developed countries like Japan, where clean-burning power plants are gaining momentum. Brazil's water-dependent hydroelectric infrastructure teeters during the dry season in places where natural gas is not easily accessible. It just therefore happens that wind power peaks at the other term as the water in running rivers that drives dam-based mostly generation. Ethanol and wind might supplant natural gas as the first alternative supply of electricity generation throughout the dry season in Brazil and President Luiz Inacio Lula da Silva said within the Brazilian press that Brazil may be selfsufficient in natural gas after several pre-salt (browse: incredibly deep) offshore fossil fuel pockets are tapped. That capability is a minimum of 5 years away. Ethanol is there currently, and when wind power auctions started last December, 773 wind turbines can be turning across Brazil by 2012. Shell, Petrobras, GE, and Cosan will surely push hard to get the govt. in Brasilia to initiate a nationwide "ethanol electricity" campaign to ensure that oil and automotive fuel are not the key determinants of sugar ethanol's success. As in thus several different areas of the world, those communities that are now underserved by fossil fuels will benefit most from such clean energy advances. The US Administration completed its revised Renewable Fuels Normal (RFS2). RFS2 can move towards a national goal of 26 billion gallons of biofuel production by 2022.
At Shaw Capital Management we have a tendency to offer you the knowledge and insight you wish to form the proper investment choices. We look forward to operating with you and being the open architects of your financial well being.
Shaw Capital Management - Investment Innovation & Excellence. We have a tendency to offer the data, insight and experience that you would like to make the proper investment choices. Shaw Capital sometimes offers its purchasers such services as asset allocation and portfolio design; traditional and non-ancient manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and alternative wealth management services, as well as estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family workplace, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc. Every investor will achieve better long-term risk-adjusted results by working with a true open design advisor. Our philosophy is straightforward: virtually each investor will achieve higher long-term risk-adjusted results by working with a true open design advisor. Before Shaw Capital launched the open architecture revolution, investors had to create the sad choice between selecting an advisor who was freelance, however unsophisticated (the traditional pension and endowment consulting corporations), or choosing an advisor
At Shaw Capital Management we have a tendency to offer you the knowledge and insight you wish to form the proper investment choices. We look forward to operating with you and being the open architects of your financial well being.
Shaw Capital Management - Investment Innovation & Excellence. We have a tendency to offer the data, insight and experience that you would like to make the proper investment choices. Shaw Capital sometimes offers its purchasers such services as asset allocation and portfolio design; traditional and non-ancient manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and alternative wealth management services, as well as estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family workplace, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc. Every investor will achieve better long-term risk-adjusted results by working with a true open design advisor. Our philosophy is straightforward: virtually each investor will achieve higher long-term risk-adjusted results by working with a true open design advisor. Before Shaw Capital launched the open architecture revolution, investors had to create the sad choice between selecting an advisor who was freelance, however unsophisticated (the traditional pension and endowment consulting corporations), or choosing an advisor
Thursday, September 2, 2010
Shaw Capital Management News: Washington Waxes Brazilian
Brazil provides us with an warning of a apace developing, energy-hungry frugalness in the Western Hemisphere, where biofuel is a fact of life. Biofuel is also an assets clamant for forcefulness investors and companies that poverty to attain money in Brazil. As an essential conception of the #3 frugalness in the Americas, alcohol can’t be unnoticed by the United States.
(Sugar) Ethanol as a Global Commodity; Focus on Cosan Ltd. (NYSE: CZZ) Cosan is incoming into a render stake with an lubricator colossus that could be worth $12 billion, and its bright first to 2010 signals a restoration of welfare in alcohol and incoming of whatever implausible participants into biofuels. Cosan, a Brazilian consort that processes more dulcify than anyone added in the world, is today connexion with Royal land Shell (NYSE: RDS), the #2 lubricator shaper in Europe.
Shell is stipendiary Cosan $1.625 1000000000 for half of its set assets. As conception of the render stake that module emerge, Shell is also attractive on Cosan’s debt and inaugural up 2,740 Shell assist stations to Cosan’s sweet, naif fuel. Shell module also wage Cosan digit diminutive Brazilian companies … Codexis and Iogen … where Shell has been finance in ethanol. Cosan is incoming into a render stake with an lubricator colossus that could be worth $12 billion, and… signals a restoration of welfare in alcohol and incoming of whatever implausible participants into biofuels.
Shaw Capital Management News: Cosan stands to acquire bounteous from an economical grouping of motion rural leftovers into render in its possess right. Of every the money and noesis dynamical hands, digit conception is most important: By gaining admittance to Shell’s organisation system, Cosan module hit the riches of ramping up creation without
worrying if there module be buyers.
Shell wants to alter Cosan’s cane-based business. Cosan production today has to acquire from 2 1000000000 liters per assemblage up to the 3 1000000000 that module be necessary to fulfill a amount 4,500 render stations in Brazil. From there, it’s up to 4 and 5
billion liters yearly and on to making alcohol a orbicular commodity. You’d be hornlike pressed to verify the disagreement between Shell and Cosan’s statements on this render stake if you distant a pair of words. Very simply, apiece consort wants admittance to the other’s expertise. “Cosan represents the prizewinning entry to sustainable biofuels in the market… the prizewinning entry of scale,” Shell’s Mark reverend said in London. In Sao Paulo, Cosan Chairman Rubens Ometto said the tie-up is witting to be “the travel nervy that was lacking, in spite of every our efforts, to attain alcohol a orbicular commodity.” Shell’s 45,000 stations around the concern module viscus biofuel to vehicles that crapper separate on gasoline, ethanol, or a variety of the two.
Shaw Capital Management News: Low prices also help, as evidenced in Brasil where flex-fuel vehicles today statement for 90% of newborn cars and pushcart sales. Shell’s 45,000 stations around the concern module viscus biofuel to vehicles that crapper separate on gasoline, ethanol, or a variety of the digit (Brazil mandates that every fuel hit at small a 20% alcohol component). As it stands, Brazilians are the modify users of the vast eld of the alcohol that their land produces (about 25 1000000000 liters annually). And you wouldn’t undergo it from most of the media, but alcohol is more than meet an moving matter…
Shaw Capital Management – Investment Innovation & Excellence. We wage the information, brainwave and skillfulness that you requirement to attain the correct assets choices. clarinettist Capital typically offers its clients much services as quality portion and portfolio design; tralatitious and non-traditional trainer analyse and selection; portfolio implementation; portfolio monitoring and consolidated action reporting; and another riches direction services, including estate, tax, consortium and shelter planning, quality custody, intimately held playing issues related with the organisation or treatment of a kinsfolk office, the manufacture of kinsfolk assets partnerships or LLCs, philanthropy, kinsfolk kinetics and inter-generation issues, etc.
(Sugar) Ethanol as a Global Commodity; Focus on Cosan Ltd. (NYSE: CZZ) Cosan is incoming into a render stake with an lubricator colossus that could be worth $12 billion, and its bright first to 2010 signals a restoration of welfare in alcohol and incoming of whatever implausible participants into biofuels. Cosan, a Brazilian consort that processes more dulcify than anyone added in the world, is today connexion with Royal land Shell (NYSE: RDS), the #2 lubricator shaper in Europe.
Shell is stipendiary Cosan $1.625 1000000000 for half of its set assets. As conception of the render stake that module emerge, Shell is also attractive on Cosan’s debt and inaugural up 2,740 Shell assist stations to Cosan’s sweet, naif fuel. Shell module also wage Cosan digit diminutive Brazilian companies … Codexis and Iogen … where Shell has been finance in ethanol. Cosan is incoming into a render stake with an lubricator colossus that could be worth $12 billion, and… signals a restoration of welfare in alcohol and incoming of whatever implausible participants into biofuels.
Shaw Capital Management News: Cosan stands to acquire bounteous from an economical grouping of motion rural leftovers into render in its possess right. Of every the money and noesis dynamical hands, digit conception is most important: By gaining admittance to Shell’s organisation system, Cosan module hit the riches of ramping up creation without
worrying if there module be buyers.
Shell wants to alter Cosan’s cane-based business. Cosan production today has to acquire from 2 1000000000 liters per assemblage up to the 3 1000000000 that module be necessary to fulfill a amount 4,500 render stations in Brazil. From there, it’s up to 4 and 5
billion liters yearly and on to making alcohol a orbicular commodity. You’d be hornlike pressed to verify the disagreement between Shell and Cosan’s statements on this render stake if you distant a pair of words. Very simply, apiece consort wants admittance to the other’s expertise. “Cosan represents the prizewinning entry to sustainable biofuels in the market… the prizewinning entry of scale,” Shell’s Mark reverend said in London. In Sao Paulo, Cosan Chairman Rubens Ometto said the tie-up is witting to be “the travel nervy that was lacking, in spite of every our efforts, to attain alcohol a orbicular commodity.” Shell’s 45,000 stations around the concern module viscus biofuel to vehicles that crapper separate on gasoline, ethanol, or a variety of the two.
Shaw Capital Management News: Low prices also help, as evidenced in Brasil where flex-fuel vehicles today statement for 90% of newborn cars and pushcart sales. Shell’s 45,000 stations around the concern module viscus biofuel to vehicles that crapper separate on gasoline, ethanol, or a variety of the digit (Brazil mandates that every fuel hit at small a 20% alcohol component). As it stands, Brazilians are the modify users of the vast eld of the alcohol that their land produces (about 25 1000000000 liters annually). And you wouldn’t undergo it from most of the media, but alcohol is more than meet an moving matter…
Shaw Capital Management – Investment Innovation & Excellence. We wage the information, brainwave and skillfulness that you requirement to attain the correct assets choices. clarinettist Capital typically offers its clients much services as quality portion and portfolio design; tralatitious and non-traditional trainer analyse and selection; portfolio implementation; portfolio monitoring and consolidated action reporting; and another riches direction services, including estate, tax, consortium and shelter planning, quality custody, intimately held playing issues related with the organisation or treatment of a kinsfolk office, the manufacture of kinsfolk assets partnerships or LLCs, philanthropy, kinsfolk kinetics and inter-generation issues, etc.
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