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Market Update

Sep 25, 2017

10:14 am

Markets sold off sharply late last week, with the Fed proving to be the trigger for the carry trade unwind and FI selling. FIs have been regular sellers all month, but their selling picked up steam post the Fed announcement. GST is Extending Working Capital Cycles and Causing a Slowdown, Particularly in Exports… There is…

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Sanctum PMS 1 Year Performance & Investment Outlook

Sep 18, 2017

10:11 am

“The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg We are pleased to report performance for Sanctum’s PMS, which completed one year of operations last Thursday. A dominant theme centered around valuation and…

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Asset Allocation Quarterly

Sep 4, 2017

2:49 pm

“I would have written you a shorter letter, but I ran out of time” – Blaise Pascal Sanctum Asset Allocation Framework This week, we update our asset allocation pairs framework which forms the key input into our asset allocation profiles and strategy. We use a relative valuation factor based framework. For instance, we compare Equities…

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Big is the New Black

Aug 22, 2017

6:38 am

“It ain’t what you don’t know that gets you into trouble. It’s what you know for certain that just ain’t true” – Mark Twain Domestic Equities With Big Reforms… A case can be made that reforms such as GST, demonetization, real estate reform, unique ID, regulatory reform, targeting willful defaulters and shell companies and so…

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