EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Affirm Holdings (AFRM) vs. MoneyLion (ML)

Technology

AlphaSituations

The tale of two Fintech companies - ML is several steps ahead in becoming a fintech super app. Robert Sassoon argues that the substantial value premium at which AFRM is currently trading makes no sense given the potential headwinds from heavier regulation and increased competition likely to confront pure-play BNPL companies. A grossly undervalued ML (400% upside) and pricey AFRM (30% downside) offers a highly lucrative pair trade idea with potential to yield an outsized return in 2022.

Edition: 126

- 07 January, 2022