Our Reports
Equity research, macroeconomic analysis, M&A insights, thematic reports and quarterly earnings breakdowns.
Publications
Browse our latest reports, analyses and insights produced by Alata Investment Club members.
La valutazione, basata principalmente su un Discounted Cash Flow (DCF), indica un fair value di 5,23 per azione, rispett...
Welcomed by Battista Bellini in the restoration area, we were captivated by a story of passion, vision, and craftsmanshi...
Partendo dal suo percorso, dal Single Resolution Board alla Banca centrale europea, fino a McKinsey, abbiamo parlato di...
In Evidence
This report dissects Japan’s macroeconomic paradox, exposing the accounting illusion behind its sovereign debt: the state operating as the largest carry trader on the planet. Combining public sector balance sheet consolidation with the historical analysis of cross-asset correlations , it assesses whether the end of zero-rate policy represents a manageable transition or the inevitable trigger for a systemic, global liquidity shock.
Antonio Di Miceli; Luca Pialorsi.
This report investigates the disconnect between market pricing and underlying fundamentals across a group of dominant financial franchises. Combining macro analysis with valuation discipline, it assesses whether recent de-rating reflects structural risk or a temporary dislocation driven by sentiment and regime repricing.
Antonio Di Miceli; Carolina Valenti; Federico Bonomi; Ferruccio Cogi; Filippo Vaccheri; Ginevra Bertazzoni; Thomas Ribolla.
The market’s obsession with Meta’s capital expenditure surge has created a classic mispricing, treating a strategic AI infrastructure build-out as a permanent margin impairment rather than the necessary cost of maintaining a digital monopoly. This report cuts through the noise, dismantling the "capital intensity trap" narrative to reveal a business that has institutionalized operational efficiency and free cash flow generation.
Antonio Di Miceli; Gabriele Sgotti; Gaia Mazzoleni; Riccardo Bonfanti; Luca Pialorsi; Andrea Scarpari.