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INSIGHTS THAT MATTER

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The House Always Wins

Published Oct 14, 2019

“We want to elevate the world’s consciousness” – Adam Neumann, WeWork Summary Being an equity investor is akin to being the ‘house’ in Vegas. The house eventually wins. We maintain a positive view on equities, neutral on gold, and underweight duration on bonds. The House Always Wins…. It’s almost become fashionable to be pessimistic these…

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Monetary Policy Update

Published Oct 4, 2019

The Key to an Economic Recovery The Reserve Bank of India today decided to reduce the policy repo rate to 5.15% from 5.40% with five members voting in favour of a 25bps cut and one member voting in favour of a 40bps cut. The MPC decided to keep the monetary policy stance unchanged at “accommodative”…

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Sanctum PMS Performance Quarterly

Published Oct 1, 2019

Sanctum PMS Performance Quarterly “Even the intelligent investor is likely to need considerable will power to keep from following the crowd.” – Benjamin Graham Summary The Nifty is up 5.6% year to date and down 2.7% quarter to date. Our large cap fund Olympians delivered +18.1% YTD, while our multi cap fund Titans delivered +14.0%…

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Thank You, Minister!

Published Sep 23, 2019

“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…

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