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Factor Based Investment Insights

Feb 4, 2019

2:11 pm

Objective factors do play a part in cycles, of course, but it’s the application of psychology to these things that causes investors to under or over react, and thus determines the amplitude of cyclical fluctuations – Howard Marks Factor investing chooses securities on attributes that are associated with higher returns. We focus on style factors…

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Union Budget FY19-20

Feb 1, 2019

1:44 pm

Budget Highlights The government demonstrated admirable restraint in adhering to the fiscal deficit targets and staying within the glide path, while coming forward with meaningful relief for the struggling rural sector, tax relief for the middle class and a wider set of corporates and outlining a vision for the future. Highlighting Progress Achieved to Date…

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Implications of a Peak in Combustion Engine Vehicles

Jan 21, 2019

1:25 pm

The penalty in terms of likely opportunity cost is just too great to justify being out of the markets – Howard Marks, Sep ‘18 Equities Typical of bull market action, the market continues to react positively to good data (lower inflation) and continues to shrug off bad news (low IIP). Earnings are off to a…

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Looking Ahead in 2019

Jan 7, 2019

9:47 am

The worst thing I can be is the same as everybody else – Arnold Schwarznegger. Expectations of Further Volatility in Domestic Equities a Low Probability Outcome The global strategist community appears to have settled on a near consensus view of slowing global growth, continued volatility and downside risks into 2019. Arnold’s quote is relevant to…

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