Manipal Health IPO: The Investment Case
Manipal Health, a leading private hospital chain in India, is seeking to raise about US$1.1 billion. In this note, I discuss the investment case.
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Silent Alarm: Promoters Flock To Pledge Shares
In 2009, when Satyam Computers case unraveled it was revealed that a large portion of promoter shares were pledged with lenders and a substantial...
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EM Relative Strength Is Bottoming: Overweight
Relative strength for MSCI EM is bottoming vs. MSCI EAFE despite continued global equity market weakness. Although the MSCI EM's price index...
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Global Markets Deteriorating...Except EM
With U.S. markets stumbling, the MSCI ACWI index is breaking down to new lows: defensive Sectors remain attractive. Relative to MSCI ACWI however,...
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Defusing Defensiveness - India Consumer Stocks Feel the Burn from Retail Fuel Price Highs
Debunking the conventional wisdom of consumer stocks being defensive plays, India consumer stock indices have fallen in line with the broader...
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