Core Viewpoint - The research team based in Singapore aims to identify undervalued investment opportunities and exploit market inefficiencies to generate long-term alpha through a disciplined investment approach that combines macro themes and fundamental analysis [1]. Group 1 - The company focuses on generating investment theses based on attractive valuations across its investment universe [1]. - The approach taken by the company is characterized by a willingness to disagree with consensus views in the market [1]. - The investment strategy integrates both top-down macroeconomic themes and bottom-up fundamental analysis to identify potential opportunities [1].

Group 1 - The research team is based in Singapore and focuses on exploiting market inefficiencies to identify undervalued investment opportunities for long-term alpha generation [1] - The team emphasizes a disciplined investment approach that combines top-down macro themes with bottom-up fundamental analysis [1] - The team is willing to challenge consensus views to develop investment theses based on attractive valuations within their investment universe [1]

Core Viewpoint - The media industry is heavily influenced by broadcasting rights, which are controlled by a limited number of players, highlighting the competitive landscape and the significance of rights acquisition in driving market dynamics [1]. Group 1: Industry Insights - The emergence of Main Street Sports Group as a challenger in the media industry indicates a shift in competitive dynamics, potentially impacting established players like FOX Corporation [1]. - The research team emphasizes the importance of identifying market inefficiencies and undervalued opportunities within the media sector to generate long-term investment returns [1]. Group 2: Investment Approach - The investment strategy combines top-down macroeconomic themes with bottom-up fundamental analysis to create robust investment theses based on attractive valuations [1]. - Valuation methods employed include both extreme bear and conservative bull cases, which aim to provide a margin of safety for investors, ensuring consistent risk-adjusted returns [1].