Download PDF: Monthly_202004 With the COVID-19 already spreading globally for over two months now and stock market seems to have bottomed, investors are right to ask whether we are at the peak of COVID-19 infection rate. In this article, we discuss where we are in the COVID-19 crisis cycle, the implication on countries’ banking systemContinueContinue reading “Monthly April 2020: Peak COVID-19, Counting the Cost of the Lockdown, and Equity Screaming Buy!”
Author Archives: Journeyman
Monthly March 2020: COVID-19 and The Bait and Switch in Global Equity
Downlaod PDF: Monthly_202003 Blame it on the COVID-19 Global bond investors have largely benefitted from the COVID-19 scare this year amid plunging global yields led by the U.S. Treasury. The budding signs of reflation beginning late last year have largely dissipated and investors have been running to safe haven assets, with gold price increasing almostContinueContinue reading “Monthly March 2020: COVID-19 and The Bait and Switch in Global Equity”
The Parallel Case of Medicine and Economics: Reflection of a Medical Graduate Working in the Finance Industry
Coming from a medical background and working as a financial strategist for the past two years, I have always been astounded by how similar both subjects are on a grand scale. The world, it seems, are a perfect analog of our fragile human body. But instead of analyzing what is right and wrong with humanContinueContinue reading “The Parallel Case of Medicine and Economics: Reflection of a Medical Graduate Working in the Finance Industry”
Research Note: A Look at Emerging Market Financials
Download PDF: A Look at EM Financials K List of Interesting EM Banks: EM Banks EM banks are relatively more interesting compared to its DM counterpart, especially European and Japanese banks, that have become a collateral damage from negative interest rate policy. EM firms are heavily underleveraged compared to its DM counterpart. Banks in Indonesia,ContinueContinue reading “Research Note: A Look at Emerging Market Financials”
February 2020: In-Depth Analysis of EM Equities Performance, Valuation and Sector Comparison
Download PDF: Monthly_202002 Part I: EM Equity Performance in the Past Decade In the past decade, investing in Emerging Markets equity has not been particularly rewarding for most investors. Much of it could be blamed to the weakness of EM currencies against the greenback, rather than lackluster earnings growth in EM countries. All EM economies,ContinueContinue reading “February 2020: In-Depth Analysis of EM Equities Performance, Valuation and Sector Comparison”
Visegrad Countries: Bright Spot Amid Slowing European Growth
Download PDF: Visegrad Country Research Visegrad countries growth post-Soviet collapse has been impressive, averaging 4% for Poland and 2.5% for Hungary and Czech Republic, compared to 1.5% for Germany. Exports as % of each country GDP has more than doubled in the last two decades (page 13). Faster growth has narrowed the GDP per capitaContinueContinue reading “Visegrad Countries: Bright Spot Amid Slowing European Growth”
Emerging Markets in The Next Decade
Download PDF: Monthly_202001 In this first publication for 2020, we are outlining our bullish view on selected EM countries which will likely benefit as investors diversify from U.S. equities. It has been pretty much a consensus by now that risk assets will likely to do well this year, with some strategists betting on the value/growthContinueContinue reading “Emerging Markets in The Next Decade”
Russia: How’s the Troubled Kid Doing?
Download PDF: Russia_Country_Research Russia’s growth rate has experienced a dramatic slowdown since the Global Financial Crisis. Domestic imbalances, correction in oil prices and sanctions imposed by the U.S. in 2014 have all contributed to the slack. Since, Russian government has been trying to fix its budget imbalance, reducing reliance on imports and building economic warContinueContinue reading “Russia: How’s the Troubled Kid Doing? “
Tactical Trade: Short U.S. 10-year Treasury Notes
After a massively successful copper trade (up 7.17% since Dec 2nd monthly piece and closed today for profit taking) based on the thesis I wrote on this and last month’s monthly piece, I thought it would be great to supplement Putamen Growth Fund performance by also adding tactical trades based on current macro conditions. Derivatives,ContinueContinue reading “Tactical Trade: Short U.S. 10-year Treasury Notes”
Checking the Pulse on Global Economy: Strategy for 2020
Download PDF: monthly_201912 Risk aversion has come down of late, as highlighted by the rebound in real yield from a deep negative level in G7 economies ex-Italy. The improving global outlook despite apparent weakness in credit Chinese data, however, is concerning. The less forceful and diminishing stimulus administered by the Chinese government in the lastContinueContinue reading “Checking the Pulse on Global Economy: Strategy for 2020”
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