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Calibrated Tightening to a Repo Rate Cut, Policy Tone changed to “Neutral”

Feb 7, 2019

2:09 pm

The Reserve Bank of India today decided to reduce the policy repo rate to 6.25% from 6.50% with four out of six members voting in favour of the cut. The MPC also decided to change the monetary policy stance from “calibrated tightening” to “neutral” with an objective of achieving a medium-term target for CPI of…

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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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