The Supervisory Board of Aktsiaselts Infortar approved the audited annual report for 2024 and will submit it to the Annual General Meeting for approval. Major events Maritime transport In the summer, Infortar invested €110 million in acquiring Tallink Grupp (Tallink) shares, increasing its shareholding in Tallink to 68.5%. The total number of passengers in 2024 reached 5.6 million. As of the end of the financial year, Tallink operated 14 vessels. Three vessels were chartered out during the year. The number ...

Investment Rating - The report suggests a conservative investment strategy focused on defensive stocks and sectors due to the anticipated double dip in Japanese stocks [1][4][35] Core Viewpoints - Japanese stocks are likely to experience a double dip in the short term, with potential for the next correction to fall below the recent bottom of TOPIX at 2,200 [2][3][19] - The report identifies three main risks contributing to this outlook: deterioration in US macroeconomic indicators, uncertainty in Japan-US tariff negotiations, and conservative initial guidance from companies during the FY3/25 earnings season [2][9][27] - A recovery in Japanese stocks may not occur until summer or later, contingent on specific conditions such as progress in tariff negotiations and aggressive monetary easing by central banks [27] Summary by Sections Short-term Risks - Japanese stocks currently lack upside momentum after a recent rebound to 2,500 from 2,200 [2][6] - The report highlights risks from US economic indicators, tariff negotiations, and conservative earnings guidance as key factors for the anticipated double dip [2][9][19] Market Correction Insights - The potential downside target for TOPIX is projected at 2,000, with a 12-month forward PER around 10x, aligning with historical downturn levels [3][19] - The report indicates that previous corrections of more than 10% have often led to double dips, particularly when rebounds do not exceed 50% of the initial correction [25][26] Defensive Investment Strategy - A focus on low-risk stocks, high EPS revisions, and strong balance sheets is recommended, as high-rated stocks are expected to underperform [4][35] - The report emphasizes the importance of identifying companies likely to issue positive guidance and maintain dividends during the uncertain macroeconomic environment [35]

Alpine Income Property Trust (PINE) Q1 2025 Earnings Call April 25, 2025 09:00 AM ET Company Participants Jenna McKinney - Director of FinanceJohn Albright - President, CEO & DirectorPhilip Mays - SVP, CFO & TreasurerMatthew Erdner - Research AssociateRob Stevenson - MD & Head - Real Estate ResearchSteven Greathouse - SVP - InvestmentsGaurav Mehta - Managing DirectorRJ Milligan - Managing Director Conference Call Participants Michael Goldsmith - US REITs AnalystWesley Golladay - Senior Research AnalystJohn ...

当前债券市场的资金面情况如何，未来可能会有哪些变化？ 当前债券市场的资金面情况可以从政府债发行规模和税期压力两个维度来分析。 近期政府债发行缴款规模较大，加上四月份是纳税大月，资金面确实存在一定 压力。然而，这些压力需要结合货币政策环境来看。如果整体货币政策偏宽松， 即使资金压力较大，央行也可能会提供高流动性投放。目前，中美贸易问题的 不确定性依然存在，但整体基本面向好，政策思路比一季度更为宽松。最新公 布的三月份信贷数据表现尚可，但二季度压力仍然较大，因此短期内资金利率 不会迅速下行，而是维持在平衡状态。未来短时间内，如果因资金面的波动导 致债券利率调整，这种调整不会因为政策思路转变，而是因为经济韧性强，可 以考虑趁调整进行买入操作。 • 当前货币政策环境偏宽松，但二季度资金压力依然较大，短期资金利率预 计维持平衡，若因资金面波动导致债券利率调整，可考虑趁调整买入。 • 短端债券定价已基本反映当前资金水平，未来若资金面宽松，短端利率仍 有下行空间，适合持有到期策略，中短久期组合可选择利率敏感品种。 • 长端债券下行空间有限，更依赖市场流动性宽松和政策预期提升，投资策 略应关注流动性变化和政策预期对长端收益率 ...

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q4 2024 Earnings Conference Call March 11, 2025 9:00 AM ET Company Participants David Sigmon - General Counsel Greg Richardson - Executive Officer David Einhorn - Chairman of the Board Faramarz Romer - Chief Financial Officer Conference Call Participants Anthony Mottolese - Dowling & Partners Eric Hagen - BTIG Operator At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. It's now my pleasure to ...

BlackRock TCP Capital Corp (NASDAQ:TCPC) Q4 2024 Results Conference Call February 27, 2025 1:00 PM ET Company Participants Michaela Murray - Investor Relations Phil Tseng - Chairman & Chief Executive Officer Erik Cuellar - Chief Financial Officer Dan Worrell - Co-CIO Jason Mehring - President Conference Call Participants Finian O'Shea - Wells Fargo Securities Robert Dodd - Raymond James Christopher Nolan - Ladenburg Thalmann Operator Ladies and gentlemen, good afternoon. Welcome everyone to BlackRock TCP Ca ...

HA Sustainable Infrastructure Capital (HASI) Q4 2024 Earnings Call February 13, 2025 05:00 PM ET Company Participants Aaron Chew - SVP - Investor RelationsJeffrey Lipson - President & CEOSusan Nickey - Executive VP & Chief Client OfficerMarc T. Pangburn - EVP & Chief Revenue and Strategy OfficerCharles Melko - EVP, CFO & TreasurerHeidi Hauch - VP, Equity Research - Clean Energy & InfrastructureTyler Bisset - Equity Research AssociateChristopher Dendrinos - VP - Equity ResearchMaheep Mandloi - Equity researc ...