




Doomed to crash?
This auto IPO (not Carvana) has been a disaster. Luckily, their accounts told you it was coming

China Tech’s Dual Personality
A case study in finding out what really drives a company’s share price


China Changes
Chinese tech stocks have been hit by recent Government action. We examine whether the derating is justified and what might come next.

Why Ferrari will not race away
A look at Ferrari’s valuation and its longer term investment prospects.

Aramco IPO Mirage
An IPO of Saudi Aramco in late 2018 at a valuation of $2 trillion (tn) has been widely trailed in the Press. We believe the Aramco IPO is unlikely to happen in 2018, if at all, for three main reasons: timing, the oil price, and valuation.