MISSION INTANGIBLE

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MISSION:INTANGIBLE, the blog of the Intangible Asset Finance Society, offers critical comments on intangible asset, corporate reputation, and finance; supplemented by quantitative reputation metrics. Intangible assets include business processes, patents, trademarks; reputations for ethics and integrity; quality, safety, sustainability, security, and resilience; and comprise 70% of the average company's value. MISSION:INTANGIBLE is a registered trademark of the Intangible Asset Finance Society.

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Repustars 2017 June 9

C. HUYGENS - Saturday, June 10, 2017

Weekly Reputation Index Metrics


At the close of trading June 9, 2017, REPUSPX, REPUVART, and REPUVAR stood at 5493.23, 4283.01 and 3392.06 respectively. Over the past four weeks, the three have changed by 0.58%, 0.86%, and 0.78%. The benchmark S&P500 Composite Index stood at 2118.12 (31 Dec 2001=1000) and has changed over the past four weeks by 1.71%. The current calendar year spread between REPUVAR and the S&P500 is 1.57%.

Over the trailing twelve months, REPUVART and REPUVAR have, respectively, changed by 19.09% and 17.38% respectively; the S&P500 Composite Index has changed by 14.95%. The trailing 12-month spread between REPUVAR and the S&P500 is 2.43%.

Over the trailing 36 months, the REPUVART and REPUVAR have changed by 14.78% and 9.50% respectively; the S&P 500 Composite Index has changed by 24.66%.

The trailing 12-month, and trailing 36-month returns for REPUSPX are 20.32%, and 24.66% respectively. The trailing 12-month spread between REPUSPX and the S&P500 is 5.37%.

The spreads between the S&P500-only index informed by reputation metrics, REPUSPX, and the broad market index informed by reputation metrics, REPUVAR, for the calendar year and for the trailing twelve months respectively are -1.93% and -2.94%.

Side Note: A description of the portfolio constituents and historical returns data from December 31, 2001 can be obtained on request from Technology Option Capital, its manager. Click Here.

Background

The RepuStars® Variety Corporate Reputation Index calculated by S&P/Dow Jones Indexes is the first-ever composite equity index based on a quantitative value strategy informed by the Steel City Re Reputational Value Metrics. The metrics comprise non-financial indicators of reputational value (RVM) and ranking (CRR).
The RepuStars Variety Corporate Reputation Index has two versions: a total returns index and a price index, whose ticker symbols are, respectively, REPUVART and REPUVAR.  Click on the ticker names for real time quotes.

The RepuStars Variety Corporate Reputation Index tracks up to 57 company stocks that appear to be underpriced relative to  Steel City Re’s proprietary Reputational Value Metrics™, which track 7400 companies weekly. The principles behind measuring reputational value are described in the book, Reputation, Stock Price, and You: Why the market rewards some companies and punishes others (2012, Apress).

The RepuStars indices are reconstituted annually in the first week of January and posted by S&P/Dow Jones Indexes in the third week. The Indices were last reconstituted at the close of the markets 23 January 2017.

REPUSPX  is a pocket index with portfolio constituents being selected algorithmically by the same criteria as the constituents for REPUVAR and REPUVART, except that the field of eligible companies is limited to constituents of the S&P500 composite equity index. Click here for an analysis of periodic returns.

The design of the portfolio is governed by principles of behavioral economics, market signaling, and the implicit timing arbitrage between the behaviors of equity stakeholder and all other stakeholders.

Reputation, Risk and Finance

Join our community on Linked-In and stay in the information flow and/or follow Twitter missives at #ReputationRisk.

Notices

S&P Dow Jones Indices is a registered trademark of S&P Dow Jones Indices LLC, a part of McGraw Hill Financial; RepuStars and Steel City Re” are registered trademarks of C. Huygens & Co. LLC. The method underpinning the RepuStars Variety indexes is subject to a pending patent assigned to C. Huygens & Co. LLC. S&P McGraw Hill Financial and its affiliate (S&P Dow Jones Indices) makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and McGraw Hill Financial shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication of future results. All information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the performance of any Index. Investment products based on the RepuStars Variety Corporate Reputation Indexes are not sponsored, endorsed, sold or promoted by Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC, or their respective affiliates and none of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the indexes in this piece does not in any way reflect an opinion of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates on the investment merits of such company. None of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates is providing investment advice in connection with these indexes.

Repustars 2017 June 2

C. HUYGENS - Saturday, June 03, 2017

Weekly Reputation Index Metrics


At the close of trading June 2, 2017, REPUSPX, REPUVART, and REPUVAR stood at 5504.82, 4289.25 and 3397.00 respectively. Over the past four weeks, the three have changed by 0.57%, 0.92%, and 0.77%. The benchmark S&P500 Composite Index stood at 2124.48 (31 Dec 2001=1000) and has changed over the past four weeks by 1.66%. The current calendar year spread between REPUVAR and the S&P500 is 1.40%.

Over the trailing twelve months, REPUVART and REPUVAR have, respectively, changed by 22.10% and 20.26% respectively; the S&P500 Composite Index has changed by 15.86%. The trailing 12-month spread between REPUVAR and the S&P500 is 4.41%.

Over the trailing 36 months, the REPUVART and REPUVAR have changed by 16.72% and 11.29% respectively; the S&P 500 Composite Index has changed by 26.75%.

The trailing 12-month, and trailing 36-month returns for REPUSPX are 21.43%, and 26.75% respectively. The trailing 12-month spread between REPUSPX and the S&P500 is 5.57%.

The spreads between the S&P500-only index informed by reputation metrics, REPUSPX, and the broad market index informed by reputation metrics, REPUVAR, for the calendar year and for the trailing twelve months respectively are -2.01% and -1.17%.

Side Note: A description of the portfolio constituents and historical returns data from December 31, 2001 can be obtained on request from Technology Option Capital, its manager. Click Here.

Background

The RepuStars® Variety Corporate Reputation Index calculated by S&P/Dow Jones Indexes is the first-ever composite equity index based on a quantitative value strategy informed by the Steel City Re Reputational Value Metrics. The metrics comprise non-financial indicators of reputational value (RVM) and ranking (CRR).
The RepuStars Variety Corporate Reputation Index has two versions: a total returns index and a price index, whose ticker symbols are, respectively, REPUVART and REPUVAR.  Click on the ticker names for real time quotes.

The RepuStars Variety Corporate Reputation Index tracks up to 57 company stocks that appear to be underpriced relative to  Steel City Re’s proprietary Reputational Value Metrics™, which track 7400 companies weekly. The principles behind measuring reputational value are described in the book, Reputation, Stock Price, and You: Why the market rewards some companies and punishes others (2012, Apress).

The RepuStars indices are reconstituted annually in the first week of January and posted by S&P/Dow Jones Indexes in the third week. The Indices were last reconstituted at the close of the markets 23 January 2017.

REPUSPX  is a pocket index with portfolio constituents being selected algorithmically by the same criteria as the constituents for REPUVAR and REPUVART, except that the field of eligible companies is limited to constituents of the S&P500 composite equity index. Click here for an analysis of periodic returns.

The design of the portfolio is governed by principles of behavioral economics, market signaling, and the implicit timing arbitrage between the behaviors of equity stakeholder and all other stakeholders.

Reputation, Risk and Finance

Join our community on Linked-In and stay in the information flow and/or follow Twitter missives at #ReputationRisk.

Notices

S&P Dow Jones Indices is a registered trademark of S&P Dow Jones Indices LLC, a part of McGraw Hill Financial; RepuStars and Steel City Re” are registered trademarks of C. Huygens & Co. LLC. The method underpinning the RepuStars Variety indexes is subject to a pending patent assigned to C. Huygens & Co. LLC. S&P McGraw Hill Financial and its affiliate (S&P Dow Jones Indices) makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and McGraw Hill Financial shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication of future results. All information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the performance of any Index. Investment products based on the RepuStars Variety Corporate Reputation Indexes are not sponsored, endorsed, sold or promoted by Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC, or their respective affiliates and none of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the indexes in this piece does not in any way reflect an opinion of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates on the investment merits of such company. None of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates is providing investment advice in connection with these indexes.

Hyundai Hat Trick

C. HUYGENS - Tuesday, May 30, 2017
Quality, safety and innovation at heart of Hyundai #reputation #risk…own goal x3.

Hyundai and Kia last month recalled 1.5m vehicles in the US, Canada and South Korea over engine defects, at a cost of Won360bn ($322.4m); this month the carmakers were ordered by South Korean authorities to recall a further 240,000 vehicles. US safety regulators are now looking into whether Hyundai’s recalls over engine defects were timely and whether enough vehicles were covered…

…“They have been lagging in innovation . . . Hyundai needs to aggressively ramp up its R&D efforts as well as exploring new mobility models to prepare for a very different automotive future,” said Dominique Bonte, analyst at ABI Research. “If not, it will be left behind by other [global players], which are all aggressively moving forward.”


Read more in the Financial Times.

Reputation of Global Economy Impaired

C. HUYGENS - Monday, May 29, 2017
US consumers’ trust deficit is permanent, expectations reset, #reputation impaired. #risk

As Allianz’s chief economic adviser Mohamed El-Erian puts it: “You cannot underestimate the economic and political effects of the profound loss of trust that the public has had in the core managers of the global system.” Rebuilding that trust would be the best kind of fiscal stimulus. But it will require heavy lifting.

Read more in the Financial Times.

Repustars 2017 May 27

C. HUYGENS - Saturday, May 27, 2017

Weekly Reputation Index Metrics


At the close of trading May 26, 2017, REPUSPX, REPUVART, and REPUVAR stood at 5449.28, 4251.34 and 3367.95 respectively. Over the past four weeks, the three have changed by -0.93%, 0.57%, and 0.45%. The benchmark S&P500 Composite Index stood at 2104.23 (31 Dec 2001=1000) and has changed over the past four weeks by 1.33%. The current calendar year spread between REPUVAR and the S&P500 is 1.50%.

Over the trailing twelve months, REPUVART and REPUVAR have, respectively, changed by 23.40% and 21.46% respectively; the S&P500 Composite Index has changed by 15.58%. The trailing 12-month spread between REPUVAR and the S&P500 is 5.88%.

Over the trailing 36 months, the REPUVART and REPUVAR have changed by 15.93% and 10.50% respectively; the S&P 500 Composite Index has changed by 26.36%.

The trailing 12-month, and trailing 36-month returns for REPUSPX are 21.50%, and 26.36% respectively. The trailing 12-month spread between REPUSPX and the S&P500 is 5.92%.

The spreads between the S&P500-only index informed by reputation metrics, REPUSPX, and the broad market index informed by reputation metrics, REPUVAR, for the calendar year and for the trailing twelve months respectively are -1.82% and -0.04%.

Side Note: A description of the portfolio constituents and historical returns data from December 31, 2001 can be obtained on request from Technology Option Capital, its manager. Click Here.

Background

The RepuStars® Variety Corporate Reputation Index calculated by S&P/Dow Jones Indexes is the first-ever composite equity index based on a quantitative value strategy informed by the Steel City Re Reputational Value Metrics. The metrics comprise non-financial indicators of reputational value (RVM) and ranking (CRR).
The RepuStars Variety Corporate Reputation Index has two versions: a total returns index and a price index, whose ticker symbols are, respectively, REPUVART and REPUVAR.  Click on the ticker names for real time quotes.

The RepuStars Variety Corporate Reputation Index tracks up to 57 company stocks that appear to be underpriced relative to  Steel City Re’s proprietary Reputational Value Metrics™, which track 7400 companies weekly. The principles behind measuring reputational value are described in the book, Reputation, Stock Price, and You: Why the market rewards some companies and punishes others (2012, Apress).

The RepuStars indices are reconstituted annually in the first week of January and posted by S&P/Dow Jones Indexes in the third week. The Indices were last reconstituted at the close of the markets 23 January 2017.

REPUSPX  is a pocket index with portfolio constituents being selected algorithmically by the same criteria as the constituents for REPUVAR and REPUVART, except that the field of eligible companies is limited to constituents of the S&P500 composite equity index. Click here for an analysis of periodic returns.

The design of the portfolio is governed by principles of behavioral economics, market signaling, and the implicit timing arbitrage between the behaviors of equity stakeholder and all other stakeholders.

Reputation, Risk and Finance

Join our community on Linked-In and stay in the information flow and/or follow Twitter missives at #ReputationRisk.

Notices

S&P Dow Jones Indices is a registered trademark of S&P Dow Jones Indices LLC, a part of McGraw Hill Financial; RepuStars and Steel City Re” are registered trademarks of C. Huygens & Co. LLC. The method underpinning the RepuStars Variety indexes is subject to a pending patent assigned to C. Huygens & Co. LLC. S&P McGraw Hill Financial and its affiliate (S&P Dow Jones Indices) makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and McGraw Hill Financial shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication of future results. All information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the performance of any Index. Investment products based on the RepuStars Variety Corporate Reputation Indexes are not sponsored, endorsed, sold or promoted by Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC, or their respective affiliates and none of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the indexes in this piece does not in any way reflect an opinion of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates on the investment merits of such company. None of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates is providing investment advice in connection with these indexes.

Reputation: Sentiment Can Become Reality

C. HUYGENS - Friday, May 26, 2017
Financial services is a lot about confidence—if there are any cracks, it can result in contagion.

The back story: Home Capital (TSE:HCG) experienced a run on the bank, more formally known as a liquidity “issue.” Dave McKay, CEO of Royal Bank of Canada told the Financial Times, “There wasn’t a credit reason to drive the liquidity challenges that Home Capital faced, but more a lack of confidence.”

It is an explanation, but not necessarily a source of reassurance.

“I don’t think you can conclude that even though they [Home Capital] are 1 per cent of the market, it won’t have an impact,” said James Shanahan, analyst at Edward Jones. “The problem is that sentiment can become reality. Financial services is a lot about confidence. If there are any cracks in confidence, it can result in contagion."


Read more from the Financial Times:

Loss of Reputational Value Reflected in Lost Sales

C. HUYGENS - Tuesday, May 23, 2017
#Reputation #risk from #safety and #innovation failures reduce Samsung shipments (4%) and market share (2.3%).

The South Korean company remains the largest mobile phone maker in the world but its market share has dropped to 20.7 per cent from 23.3 per cent in the same quarter a year earlier, according to Gartner, the research company. Samsung was also the only top five phone maker to report a decline in shipments, which slipped to 78m from 81m.

Read more from the Financial Times:

Speaking Volumes When D&O Defenses are Muted

C. HUYGENS - Monday, May 22, 2017
A 3rd party’s signal is what really great CEOs need to protect their #reputation … when all other strategies fall silent.

There is a range of alternative defensive strategies — none of which are particularly promising. The status quo, silence, is a path to disaster today.

Read more in Risk & Insurance

Reputational Value Rarely Enhanced by Crises

C. HUYGENS - Sunday, May 21, 2017
Avoid #reputational #risk: manage stakeholder expectations, execute to expectations, and pre-position goodwill through 3rd-party validation of governance, risk and compliance excellence.

The half-life of corporate crises has undeniably shortened, helped by social media. Just ask Oscar Munoz, United Continental’s chief executive, how much time he had to react to an online video of a passenger being dragged off one of his airline’s flights in April. At the same time, crisis management specialists have an interest in fostering a nervous sense of constant uncertainty.

Such uncertainty cross-pollinates with the contagious concept of “never-ending disruption” and the alluring idea that all challenges are opportunities. Soon, managers assume they must foment a sense of crisis to get anything done. They are almost always wrong.


Read more from the Financial Times:

Repustars 2017 May 20

C. HUYGENS - Saturday, May 20, 2017

Weekly Reputation Index Metrics


At the close of trading May 19, 2017, REPUSPX, REPUVART, and REPUVAR stood at 5372.86, 4235.82 and 3355.77 respectively. Over the past four weeks, the three have changed by 0.13%, 2.36%, and 2.23%. The benchmark S&P500 Composite Index stood at 2074.53 (31 Dec 2001=1000) and has changed over the past four weeks by 1.41%. The current calendar year spread between REPUVAR and the S&P500 is 2.61%.

Over the trailing twelve months, REPUVART and REPUVAR have, respectively, changed by 26.77% and 24.74% respectively; the S&P500 Composite Index has changed by 16.75%. The trailing 12-month spread between REPUVAR and the S&P500 is 7.99%.

Over the trailing 36 months, the REPUVART and REPUVAR have changed by 17.23% and 11.75% respectively; the S&P 500 Composite Index has changed by 27.17%.

The trailing 12-month, and trailing 36-month returns for REPUSPX are 22.75%, and 27.17% respectively. The trailing 12-month spread between REPUSPX and the S&P500 is 6.00%.

The spreads between the S&P500-only index informed by reputation metrics, REPUSPX, and the broad market index informed by reputation metrics, REPUVAR, for the calendar year and for the trailing twelve months respectively are -0.67% and 1.99%.

Side Note: A description of the portfolio constituents and historical returns data from December 31, 2001 can be obtained on request from Technology Option Capital, its manager. Click Here.

Background

The RepuStars® Variety Corporate Reputation Index calculated by S&P/Dow Jones Indexes is the first-ever composite equity index based on a quantitative value strategy informed by the Steel City Re Reputational Value Metrics. The metrics comprise non-financial indicators of reputational value (RVM) and ranking (CRR).
The RepuStars Variety Corporate Reputation Index has two versions: a total returns index and a price index, whose ticker symbols are, respectively, REPUVART and REPUVAR.  Click on the ticker names for real time quotes.

The RepuStars Variety Corporate Reputation Index tracks up to 57 company stocks that appear to be underpriced relative to  Steel City Re’s proprietary Reputational Value Metrics™, which track 7400 companies weekly. The principles behind measuring reputational value are described in the book, Reputation, Stock Price, and You: Why the market rewards some companies and punishes others (2012, Apress).

The RepuStars indices are reconstituted annually in the first week of January and posted by S&P/Dow Jones Indexes in the third week. The Indices were last reconstituted at the close of the markets 23 January 2017.

REPUSPX  is a pocket index with portfolio constituents being selected algorithmically by the same criteria as the constituents for REPUVAR and REPUVART, except that the field of eligible companies is limited to constituents of the S&P500 composite equity index. Click here for an analysis of periodic returns.

The design of the portfolio is governed by principles of behavioral economics, market signaling, and the implicit timing arbitrage between the behaviors of equity stakeholder and all other stakeholders.

Reputation, Risk and Finance

Join our community on Linked-In and stay in the information flow and/or follow Twitter missives at #ReputationRisk.

Notices

S&P Dow Jones Indices is a registered trademark of S&P Dow Jones Indices LLC, a part of McGraw Hill Financial; RepuStars and Steel City Re” are registered trademarks of C. Huygens & Co. LLC. The method underpinning the RepuStars Variety indexes is subject to a pending patent assigned to C. Huygens & Co. LLC. S&P McGraw Hill Financial and its affiliate (S&P Dow Jones Indices) makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and McGraw Hill Financial shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication of future results. All information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the performance of any Index. Investment products based on the RepuStars Variety Corporate Reputation Indexes are not sponsored, endorsed, sold or promoted by Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC, or their respective affiliates and none of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the indexes in this piece does not in any way reflect an opinion of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates on the investment merits of such company. None of Technology Option Capital, LLC, C. Huygens & Co, LLC, Steel City Re, LLC or any of their respective affiliates is providing investment advice in connection with these indexes.

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