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Second Quarter Performance Attribution

Published Jul 5, 2016

Quarter end is the time we look into the rear-view mirror to evaluate trends and gain insights from past performance. The Nifty 50 Struggled to Deliver a Base 12 % Hurdle Return Over the Past 12 Months A 12% hurdle rate is an accepted long term return benchmark for Equities. For the Nifty 50, 16…

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Building Walls To Freedom

Published Jun 24, 2016

Outlook In our June 6th commentary, we wrote: A Summer of Global Event Risk We advise caution on deploying new capital We advised the rally was weakening We advised our technical models suggested weakness ahead We advised markets were complacent and were entering a period of event risk We advised investors consider their risk exposures…

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Published Jun 20, 2016

Summary Mr. Market is a manic depressive with huge mood swings, and you should bet against him, not with him, particularly when he is raving. – Barton Biggs With full and due respect to Gov. Rajan, one lesson we have learnt in 25 years of corporate life and markets is that no one is indispensable….

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RBI Monetary Policy Update: Rate Cut Cycle Likely Coming To An End…

Published Jun 7, 2016

MONETARY POLICY UPDATE Action The Reserve Bank of India (RBI) kept the policy rate unchanged at 6.50%, in line with our expectations. While the RBI signalled to stay “accommodative” in its policy stance, it has also flagged “an upward bias” to the projected inflation trajectory. The RBI reiterated its stance on revised liquidity framework announced…

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