APAC Investment Strategy, Animal Spirits Report, Quiddity Advisors

Paul M. Kitney, PhD

APAC Investment Strategy, Animal Spirits Report

Quiddity Advisors

Pan-Asia Catalysts/Events

Thematic (Sector/Industry)

<h2><strong>Executive Summary</strong></h2><ol>
<li>OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift.</li>
<li>Our original WTI peak base effect was +20 percent YOY. Now based on end-September oil it is +40 percent.</li>
<li>Our bullish case for EM is in large part based on improved pricing power in energy and material sectors.</li>
<li>OPEC action assists supply rebalance and steepens the path for inflation expectations and Fed action.</li>
<li>Strong oil supports our yield-based bullish view on banks and insurers.</li>
</ol><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/013/995/original/animal_spirits3.png?1475197603" class="editor-image img-responsive" data-smartkarma-image-id="13995"></figure><h2>Oil</h2>…

Executive Summary
OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift.
Our original WTI peak base effect was +20 percent YOY. Now based on end-September oil it is +40 percent.
Our bullish case for EM is in large part based on improved pricing power in energy and material sectors.
OPEC action assists supply rebalance and steepens the path for inflation expectations and Fed action.
Strong oil supports our yield-based bullish view on banks and insurers.
Oil…

ANIMAL SPIRITS Update: OPEC Fuels Base Effect - Oil, Inflation & The Fed, Yields, Financials and EM

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<p class="p1"><strong>Trends in Technology, Demographics, and Borrowing Will Set the Course of Rates</strong></p><ul><li class="p1">We hypothesise that three main factors will determine the future course of interest rates.</li><li class="p1">First, the "new economy" characterised by globalisation and technological advancement will have long-lasting effects on the balance of savings and investment and will continue to exert an effect on the demand for capital and labor for years to come.</li><li class="p1">Second, demographic changes—primarily an aging and longer-lived global population—will reduce the savings glut produced by rapid growth of the working-age population in recent decades.</li><li class="p1">Finally, the state of the credit cycle will weigh on consumer and corporate behaviour, as well.</li></ul><p><em>Analysts: Jim Sinegal &amp; Eric Compton</em></p>

Trends in Technology, Demographics, and Borrowing Will Set the Course of RatesWe hypothesise that three main factors will determine the future course of interest rates.First, the "new economy" characterised by globalisation and technological advancement will have long-lasting effects on the balance of savings and investment and will continue to exert an effect on the demand for capital and labor for years to come.Second, demographic changes—primarily an aging and longer-lived global population—will reduce the savings glut produced by rapid growth of the working-age population in recent decades.Finally, the state of the credit cycle will weigh on consumer and corporate behaviour, as well.Analysts: Jim Sinegal &amp; Eric Compton

Financial Services Observer: Solving the Interest Rate Equation

Chairman, sgtradex

Tan Chin-Hwee

Chairman

<p><em>Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of trust and regulation to break into the mainstream.</em></p><p>It started with a question which seemed simple enough when I first started investing in technology despite my training in years as a value investor: How do you invest in a fintech (financial technology) start-up with the potential to revolutionise finance, but which has not gained wide traction or turned…</p>

Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of trust and regulation to break into the mainstream.It started with a question which seemed simple enough when I first started investing in technology despite my training in years as a value investor: How do you invest in a fintech (financial technology) start-up with the potential to revolutionise finance, but which has not gained wide traction or turned…

The Moats that Fintech Companies Must Cross

Sweden

Nordea Bank AB is a financial services group that provides banking services, financial solutions, and related advisory services. The Group attracts deposits and offers credit, investment banking, securities trading, and insurance products to private individuals, companies, institutions, and the public sector. Nordea services the Scandinavian countries and the Baltic Sea region.

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Nordea Bank AB (NDA SS)

ANIMAL SPIRITS Update: OPEC Fuels Base Effect - Oil, Inflation & The Fed, Yields, Financials and EM

Executive Summary OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift. Our original WTI peak base...

Paul M. Kitney, PhD

Financial Services Observer: Solving the Interest Rate Equation

Trends in Technology, Demographics, and Borrowing Will Set the Course of Rates We hypothesise that three main factors will determine the future...

Morningstar, Inc.

The Moats that Fintech Companies Must Cross

Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of...

Tan Chin-Hwee

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