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”
Tag Archives: brazil
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”
Update on Brazil and South Africa
Download PDF: Brazil and South Africa Update Brazil’s economy is slowing, but positive development on pension reform has charged the market of late. Much of the positive development has been priced in and the risk of further slowdown in the economy is rising. Brazilian stocks are not cheap relative to EM overall, currently at itsContinueContinue reading “Update on Brazil and South Africa”
Lessons from Past Equity Market Responses During Periods of High Inflation
Download PDF: Market Responses During Periods of High Inflation Recent crisis in Argentina and Turkey have left me wonder, why does equity markets in local currency terms always corrects during periods of high inflation although in the medium-term corporates are able to maintain their margin through gradual increase of price of their products? My logicContinueContinue reading “Lessons from Past Equity Market Responses During Periods of High Inflation”
Qualitative Screening on Countries Equity Valuation
In this post we highlight several countries equity market and their valuation that we found to be attractive to go long. The countries covered are Brazil, Canada, Germany, UK, Japan, Korea, Mexico, Russia, Turkey and the US. From a cycle point of view, Brazilian equity is in a tough spot. We expect the economy toContinueContinue reading “Qualitative Screening on Countries Equity Valuation”
EM Country Overview: Mexico, Turkey, Brazil, South Africa, Russia
Download PDF: Q12019_LATAM_EMEA_Update A revisit of our investment thesis on emerging markets equities Mexico + (Overweight) Last year Mexican stocks were among the worst performer in the EM universe for two main reasons. First, the domestic economy is experiencing a sharp slowdown from industrial and oil production. Second, the increase in global risk aversion hasContinueContinue reading “EM Country Overview: Mexico, Turkey, Brazil, South Africa, Russia”
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