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A Shot in the Foot

Oct 4, 2017

1:26 pm

Thirty years ago, no one could have foreseen the huge expansion of the Vietnam war, wage and price controls, two oil shocks, the resignation of a President, the dissolution of the Soviet Union, a one day drop in the Dow of 508 points, or treasury yields at 2.8% and 17.4%. But surprise, not one of…

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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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