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Asset Allocation Quarterly & Market Outlook

Mar 19, 2018

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions. – Seth Klarman A few problems dog the markets that led markets to shrug off good economic data last week. One, domestic PSU related woes, and myriad follow on impacts. Two, relentless FI selling…

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The Art of the Deal?

Mar 5, 2018

“I’d love to have a trade war with China.…If we did no business with China, frankly, we will save a lot of money.” – Donald Trump In a volte-face, last year’s euphoria and optimism seems to have been replaced by skepticism and caution. Key concerns have come to the fore, including rising interest rates and…

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Alphabet Risk

Feb 19, 2018

“Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational” – Warren Buffett XIV, VIX, PNB, PSU. It’s been an eventful fortnight, one that necessitates a review of the shifting investment landscape. Global The VIX Event Highlighted the Embedded Leverage in Developed Markets… Why…

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Monetary Policy Update

Feb 7, 2018

Repo Rate and Policy Tone Maintained at 6% and Neutral Respectively The Reserve Bank of India today decided to keep the policy repo rate unchanged at 6% in a 5-to-1 vote. Dr. Michael Patra voted for a 25bps hike. The MPC maintained its neutral stance on monetary policy and commitment to achieving a medium-term target…

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