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Asset Pairs Quarterly

Dec 11, 2017

“Experience is what you got when you didn’t get what you wanted” – Howard Marks Outlook Publishing mid year and year end outlooks allows us to step back and ponder the big picture. This year, we share our findings on the outcome of reforms of the nature pursued by the government. In brief, we find…

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Repo Rate and Policy Tone Maintained at 6% and Neutral Respectively

Dec 6, 2017

The Reserve Bank of India today decided to keep the policy repo rate unchanged at 6% in an “effective” 5-to-1 vote. 5 voted for status quo, while Dr. Ravindra Dholakia voted for a 25bps cut. The MPC maintained its neutral stance on monetary policy and achieving a medium-term target for CPI of 4% ± 2%,…

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Where’s the Money?

Nov 27, 2017

“I have a high tolerance for pain” – Elon Musk Elon Musk’s quote has relevance to this week’s commentary. There’s been an ongoing debate about index valuations and forward return expectations. To gain some insight, we study the past 8 years of index returns versus the rest of the market, and put to test the…

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Return of the Dark Knight

Nov 13, 2017

“It is dangerous to make forecasts, especially about the future.” – Yogi Berra The Dark Knight for the markets – crude oil – has risen, after a roughly 3 year hiatus. Crude has been, directly or indirectly, a contributor to every major recession going back to 1973-74. The situation today is evolving into a geo-political…

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