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Nicky Franco

@HoR_102

Husband, father. Head of Research, Abacus Sec/MyTrade. Stock picks, business, economy, bit of politics. UPD. Personal views. NOT investment advice.

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3Q/9M 2024 earnings summary for the PSEi.

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Couldn't agree more. I've been critical of $JFC's financials before but since becoming CFO, Mr. Shin has greatly improved transparency. In the recent 3Q briefing he made a real effort to explain the whys/hows + potential going forward. Others would do well to follow his lead.

He 2024 ING-FINEX CFO of the Year is Richard Shin of Jollibee Foods Corp. A seasoned Korean-Canadian financial leader, Shin is the first non-Filipino winner of the prestigous award. He was appointed CFO of the Jollibee Group in 2022.

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Earnings calendar this week is packed. Wednesday, which includes 6 companies representing one third of the index, is "hell day" for analysts. Probably for business journalists as well.

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In the weeks after the 2016 🇺🇸 elections, the PSEi fell about 10%. But after bottoming near the end of that year, the market rallied 2000+ points until end-2017. Past performance doesn't guarantee future results but this is definitely something to remember.

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Yes, the US$ was strong from Nov 2016 until shortly after Trump's first inauguration. But as shown, the dollar index fell 15% thru 1Q18 which boosted EM equities. Also, from end-2016 to end-2020, the Peso was actually up 3% vs US$.

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Yes, the US$ was strong from Nov 2016 until shortly after Trump's first inauguration. But as shown, the dollar index fell 15% thru 1Q18 which boosted EM equities. Also, from end-2016 to end-2020, the Peso was actually up 3% vs US$.

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Rice prices have actually been stable to slightly lower in the past few months. Rice inflation only increased for October because of the price caps implemented in the same month last year which resulted in a low base effect. There will be no backtracking on rate cuts from the BSP

Whoopsie. 🙈 ——— More expensive rice, typhoon pushed Philippine inflation up to 2.3% in Oct. READ: insiderph.com/more-expensive…

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In today's #ShortTakes, we discussed: 1. Our 3Q earnings preview for $PLUS, 2. $GLO's 7.3% drop yesterday, 3. $MER's P16.0B refund, 4. $MBT's NIM, and 5. $CIC's dividend yield. Register or log-in to mytrade.com.ph to get our analysis and insights.

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Hi, @unionbankph Just to let you know that your reply is only about 21 months too late. But at least 3Q24 net income is up more than 100% YoY.

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Foregoing the 5th regulatory reset is an abdication of the ERC's duty. As noted by the Supreme Court, the Commission has to comply with its "statutory mandate to approve a rate that provides electricity to consumers in the LEAST COST MANNER" elibrary.judiciary.gov.ph/thebookshelf/s…

Senator Sherwin Gatchalian assailed the Energy Regulatory Commission's (ERC) decision to forgo the fifth regulatory reset of the Manila Electric Company's (Meralco) distribution rate, which covered the period of 2022 to 2026. mb.com.ph/2024/10/19/thi…



Nicky Franco Reposted

October CPI comes first (Nov 5) but 3Q GDP (Nov 7) is also just around the corner. So here are a few more charts that show the economy hasn't returned to trend. Water is life, and just like ⚡️, no economy can run without it. So why hasn't consumption returned to pre-Covid level?

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...the trend line as people continue to spend more time at home. It has masked weakness in both commercial and especially industrial segments. The latter is at its lowest share of Meralco's volumes since at least 2010. IMO, this is a legacy of the tepid Covid response in 2020.

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Jamie Dimon Is Right. Forget the ‘Damn Number.’ by Jonathan Levin of Bloomberg News, 10/14/24 advisorperspectives.com/articles/2024/…


Dovetails nicely with what we wrote last week. Our full 3Q earnings preview on $GLO is available when you log in or sign up with @MyTradePH insiderph.com/globe-ceo-gcas…

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Hadn't noticed this until recently but $GLO's use of derivatives to hedge against forex fluctuations has been very effective. The cost is significant but the protection against earnings volatility is priceless, especially for minority investors.

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