Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Asian Hedge Fund manager based in HK/SG with over 20 years of experience managing Asian Long/Short Equity funds. Macroeconomic top-down analysis generates thematic investments that are further researched from the bottom-up. Research is supplemented with advanced technical analysis. 
Previous experience includes M&A with Morgan Stanley and CPA with Deloitte in NYC. Wharton MBA.

US MARKETS: Foreigners Hedging Their Bets!

The Art of the Trade War: PAIN THRESHOLD FOR THE TACO TRADE!!

The Dollar Is Smiling But It's Not Happy :(

The US Dollar and the Only Chart that Matters!

The Art of the Trade War: US/CHINA Opening Moves

Trump's Tariffs and China: THE STATE OF PLAY

Macroeconomics

<ul>
<li>The US equity markets continue to struggle as global markets continue to gain this year.  US dollar weakness has only amplified the US equity underperformance.</li>
<li>On a risk-adjusted basis, US markets show even worse performance with Sharpe ratios substantially below global peers.  This underperformance holds both on a USD and local currency basis.</li>
<li>Foreign investors have pulled back hard on USD asset purchases this year as seen in import and NIIP data.  We anticipate that pressure on US asset markets will continue.</li>
</ul>


The US equity markets continue to struggle as global markets continue to gain this year.  US dollar weakness has only amplified the US equity underperformance.
On a risk-adjusted basis, US markets show even worse performance with Sharpe ratios substantially below global peers.  This underperformance holds both on a USD and local currency basis.
Foreign investors have pulled back hard on USD asset purchases this year as seen in import and NIIP data.  We anticipate that pressure on US asset markets will continue.


Why the US Market Continues to Struggle