Published Mar 18, 2019
“While we are in an industry that often blends art and science, our preference is to have a strongly objective, scientific, and quantitative bias to our work.” – Martin Zweig We’ve had a non-consensus, cautiously optimistic view on equities since the beginning of the year, and going further back to Oct 26th (commentaries here, here…
Read MorePublished Mar 5, 2019
“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist.” – Ray Dalio, Bridgewater An event such as the India Pakistan escalation illustrates the highly unpredictable nature of politics, markets and the global economy. Anticipating the future decisions and actions of hundreds of key players globally…
Read MorePublished Feb 18, 2019
“The contrary investor is every human when he resigns momentarily from the herd and thinks for himself” – Archibald MacLeish Chile’s Acclaimed F.M. Visits India – His Comments on Fiscal Austerity vs Profligacy Before we get to our commentary, a quick note. Last week, Andres Velasco, former finance minister of Chile, was in town. Andres…
Read MorePublished Feb 7, 2019
The Reserve Bank of India today decided to reduce the policy repo rate to 6.25% from 6.50% with four out of six members voting in favour of the cut. The MPC also decided to change the monetary policy stance from “calibrated tightening” to “neutral” with an objective of achieving a medium-term target for CPI of…
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