When Will Corporates ‘Taper’ Their Share Buy Backs?
Tapering buybacks would reduce misallocation of cash and move value to companies that depend on organic growth to deliver returns
Earningsless Market Recovery in the U.S. Opportunities Lie Elsewhere
We explain why our hunt for returns is focused more towards Asia and Europe
A Look At One Of Our Growth Stocks
A close look at China Cord Blood, one of the growth stocks that form 10-20% of our portfolio
The Forces Dampening The Effects Of QE Tapering Are Kicking In
We explain our belief in a high likelihood of the QE tapering trade losing momentum
Valuations In Developed And Emerging Markets
Developed markets’ valuations leave no margin for error; those of Emerging markets price in at least a mini crisis
Our Macro View
Our medium- to long term projected trends that form the bedrock of our portfolio construction process
Our Original Thesis Is Still True: Stock Returns Will Remain Mediocre
A look at the macro environment that justifies our investment belief in strong free cash generators with solid growth
Volatility ≠ Risk
A discourse to emotionally prepare ourselves for future price volatility and guard from confusing it as risk
Underlying Macro Thoughts Guiding Our Portfolio Construction Process
We focus on earnings visibility and sustainability in a low growth low rate environment
Compendium of newsletters from March 2013 to December 2014
Exploration of themes to explain our macro beliefs and fundamental investment thesis guiding our portfolio construction process
