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Sanctum PMS 1 Year Performance & Investment Outlook

Published Sep 18, 2017

“The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg We are pleased to report performance for Sanctum’s PMS, which completed one year of operations last Thursday. A dominant theme centered around valuation and…

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Asset Allocation Quarterly

Published Sep 4, 2017

“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

Published Aug 22, 2017

“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

Published Aug 8, 2017

“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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