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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Déjà vu All Over Again

Aug 8, 2017

1:00 pm

“While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster” – Benjamin Graham This week, we address where we are from a macro, fundamental, technical and sentiment perspective and review investment strategy. Domestic Equities The Nifty Trailing P/E is 25.6, a Level that Has Delivered Sub-par Forward…

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Repo Rate Cut to 6%, Policy Tone Remains Neutral, Focus on Growth

Aug 3, 2017

4:58 am

The Reserve Bank of India today decided to cut the policy repo rate by 25bps to 6% in an “effective” 5-to-1 vote. 4 voted for a 25bps cut, Dr. Ravindra Dholakia for a 50bps cut and Dr. Michael Patra for status quo. The MPC maintained its neutral stance on monetary policy and achieving a medium-term…

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