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…
Read MorePublished 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…
Read MorePublished Aug 3, 2017
The Reserve Bank of India today decided to cut the policy repo rate by 25bps to 6% in an “effective” 5-to-1 vote. 4 voted for a 25bps cut, Dr. Ravindra Dholakia for a 50bps cut and Dr. Michael Patra for status quo. The MPC maintained its neutral stance on monetary policy and achieving a medium-term…
Read MorePublished Jul 24, 2017
“The contrary investor is every human when he resigns momentarily from the herd and thinks for himself” – Archibald MacLeish It’s been a tough decade for the rational investor. Interestingly, one simple rule over-rode all others; following the actions of the central banks led to outsized returns. Today, skepticism and fear is elevated, primarily on…
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