EM PM, Ecstrat

Emad Mostaque

EM PM

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
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More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Thematic (Sector/Industry)

The last few days have seen a maelstrom of opinions and recrimination after the shock referendum decision to leave the EU.The lack of a concrete plan of action for an exit has shocked markets, leaving even those who avoid politics worried about the future.However, looking at the structure of western democracy a departure from the EU is very unlikely.

The last few days have seen a maelstrom of opinions and recrimination after the shock referendum decision to leave the EU.The lack of a concrete plan of action for an exit has shocked markets, leaving even those who avoid politics worried about the future.However, looking at the structure of western democracy a departure from the EU is very unlikely.

Transport Sector, China and Asia-focused Research

Charles De Trenck

Last week in my notes I pointed to the investment world being upside down and there being too much risk to be fully invested.Let’s set aside whether Banks, UK Banks or even UBS have gotten oversold and are trading buys post Brexit Vote. For my end, I am not going to trade more than 1-2% of holdings in banks. Just enough to get a feel. Not enough to do any damage. There may be some opportunities. There may be opportunities as well in names competing with WMT and in Telecoms…UK tracking device:…

Last week in my notes I pointed to the investment world being upside down and there being too much risk to be fully invested.Let’s set aside whether Banks, UK Banks or even UBS have gotten oversold and are trading buys post Brexit Vote. For my end, I am not going to trade more than 1-2% of holdings in banks. Just enough to get a feel. Not enough to do any damage. There may be some opportunities. There may be opportunities as well in names competing with WMT and in Telecoms…UK tracking device:…

The Dark Side of Glocalization (Even if Investment Opportunities)

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is being felt in the Eurozone, but the shockwaves could lead to one more leg down in Emerging Markets and potentially the US this year.

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is being felt in the Eurozone, but the shockwaves could lead to one more leg down in Emerging Markets and potentially the US this year.

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business confidence over the past year. Both reports share common concerns, although there are some marked differences, particularly on the question of innovation.

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business confidence over the past year. Both reports share common concerns, although there are some marked differences, particularly on the question of innovation.

US, EU Business Confidence Falls in China

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year. Continued  hucksterism at the Fed. .. and a quick update on the future of report presentations.  Are we about to get some revolutionary upgrades for off the rack software? (...and should not the Smartkarma community be ready for upgraded presentation standards?)Noble Scuttlebutt: The first item of note is the great summary of <a href="https://www.smartkarma.com/entities/378" target="_blank" data-smartkarma-citation="entities:378">Noble Group Ltd</a> and its…

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year. Continued  hucksterism at the Fed. .. and a quick update on the future of report presentations.  Are we about to get some revolutionary upgrades for off the rack software? (...and should not the Smartkarma community be ready for upgraded presentation standards?)Noble Scuttlebutt: The first item of note is the great summary of Noble Group Ltd and its…

Too Much Going On To Be Bullish (Cont.) Noble, Stock Updates

China

PetroChina Company Limited operates as an oil and gas company. The Company offers crude oil and oil products exploration, development, production and marketing. PetroChina also markets petrochemical products and derivative chemicals.

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PetroChina (601857 CH)

Why Brexit (Probably) Won't Happen

The last few days have seen a maelstrom of opinions and recrimination after the shock referendum decision to leave the EU.The lack of a concrete...

Emad Mostaque

The Dark Side of Glocalization (Even if Investment Opportunities)

Last week in my notes I pointed to the investment world being upside down and there being too much risk to be fully invested.Let’s set aside...

Charles De Trenck

Will Brexit Break EM's Back?

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is...

Emad Mostaque

US, EU Business Confidence Falls in China

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business...

Bixmoor

Too Much Going On To Be Bullish (Cont.) Noble, Stock Updates

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year....

Charles De Trenck

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