Sep 23, 2019 9:15 am
“I think tax reform is the single most important thing we can do in this country to unleash economic energy” – Dennis Muilenberg Summary • The Sitharaman Put was born on Friday, and sentiment as well as markets have put in a bottom. • The tax cut is a triple kicker to the markets, in…
Read MoreSep 16, 2019 12:03 pm
“The older I get, the more I see a straight path where I want to go. If you’re going to hunt elephants, don’t get off the trail for a rabbit.” – T Boone Pickens This week we update our quarterly RICS asset pairs methodology. Equities Vs Bonds While acknowledging that forward earnings can be like…
Read MoreSep 3, 2019 11:01 am
“If you really want something in life you have to work for it. Now quiet! They’re about to announce the lottery numbers.” – Homer Simpson Everyone knows everything today. There is an avalanche of data, opinion, news, blogs available on the net, much of the easily sourced is negative. Global media creates a veritable state…
Read MoreAug 19, 2019 12:25 pm
“Be a loner. That gives you time to wonder, to search for the truth, have holy curiosity. Make your life worth living.” – Albert Einstein The yield curve has inverted, and a long hibernating bear woke up this week, as conditions are starting to look decidedly gloomy. Marc Faber, aka Dr Doom was back, suggesting…
Read MoreAug 7, 2019 12:08 pm
The Reserve Bank of India today decided to reduce the policy repo rate to 5.40% from 5.75%. While, all the six members of the MPC were in favour of a rate cut, two members voted for a 25bps rate cut and four members voted for a 35bps rate cut. The MPC decided to keep the…
Read MoreAug 5, 2019 11:34 am
“Wealth isn’t primarily determined by investment performance, but by investment behaviour.” – Nick Murray U.S. Central Bank Policy Tapers Investor Expectations Dovish central bank policy has been one of the key underpinnings of our outlook this year. That domino fell last week, with the Fed dashing expectations of a sustained monetary easing campaign. In all…
Read MoreJul 22, 2019 1:40 pm
“Wealth isn’t primarily determined by investment performance, but by investment behavior.” – Nick Murray It was a difficult week in the markets last week, broadly brought about by FI selling, a disappointing budget, a change in sentiment, and generally dismal earnings. Markets could likely continue to be under pressure in the near term as we…
Read MoreJul 8, 2019 1:36 pm
“Even the intelligent investor is likely to need considerable will power to keep from following the crowd.” – Benjamin Graham PMS Quarterly Performance – Olympians Large Cap Portfolio Olympians is Up +14.4% YTD, +6.3% QTD, and +17.5% CAGR Since Inception Olympians delivered 14.4% YTD, 6.3% QTD return in the quarter ended June 30th, 2019, outperforming…
Read MoreJul 5, 2019 1:50 pm
Key Budget Takeaways The Finance Minister highlighted the progress achieved over the past five years via structural reforms, low inflation, an institutionalized process for bad loan recovery that has recovered 4 lakh crores already and reduced NPAs by 1 lakh crore over the last year, a healthier public sector and corporate banking sector, transparent and…
Read MoreJun 24, 2019 1:27 pm
“Headlines, in a way, are what mislead you, because bad news is a headline, and gradual improvement is not.” – Bill Gates Imponderable Risk Pushing a country to the edge can lead to unpredictable and unexpected outcomes, and unnecessary risks for the global economy. Post the Iranian take down of the U.S. drone, Tehran has…
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