Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>Gold's price advance is idiosyncratic moving against historical norms of estimated inflation and real rates.</li>
<li>Demand from large central banks is not currently a factor in price discovery as the PBOC has stopped buying.  Gold's safe-haven status has also declined since GFC in 2008/09. </li>
<li>Easier monetary policy from the Fed and higher actual inflation continue to fuel lower real rates and provide substantial support for Gold's price.  </li>
</ul>


Gold's price advance is idiosyncratic moving against historical norms of estimated inflation and real rates.
Demand from large central banks is not currently a factor in price discovery as the PBOC has stopped buying.  Gold's safe-haven status has also declined since GFC in 2008/09. 
Easier monetary policy from the Fed and higher actual inflation continue to fuel lower real rates and provide substantial support for Gold's price.   


GOLD: Rocks Or Stocks! Why Gold Continues to Outperform the S&P?

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>Gold has reached another all-time high at 2500, will history repeat itself? Is this another generational buying opportunity or a bull trap fakeout?</li>
<li>We conclude that the upside breakout in gold prices has more room to run, though the market is extended and could pull back at any time.</li>
<li>A long-term point and figure analysis of monthly prices using a 5% box and 3-box reversal shows a measured objective of 4406.</li>
</ul>


Gold has reached another all-time high at 2500, will history repeat itself? Is this another generational buying opportunity or a bull trap fakeout?
We conclude that the upside breakout in gold prices has more room to run, though the market is extended and could pull back at any time.
A long-term point and figure analysis of monthly prices using a 5% box and 3-box reversal shows a measured objective of 4406.


Gold: Fakeout or Generational Buying Opportunity?

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

<ul>
<li>The Global Emerging Markets Weekly summarises the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: Thailand GDP growth, South Korea interest rates and GDP growth expectations.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a>, <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RIL IN)</a>
</li>
</ul>


The Global Emerging Markets Weekly summarises the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: Thailand GDP growth, South Korea interest rates and GDP growth expectations.

 Companies mentioned:Samsung Electronics (005930 KS), Tencent (700 HK), JD.com (9618 HK), Reliance Industries (RIL IN)



GEMWeekly (23 Aug 2024): China Property Price War; Thailand, SK Macro; SEC, Tencent, JD, Reliance

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Hindalco's $10 Billion Expansion to Drive Aluminium and Copper Growth.</li>
<li>BC Jindal Group to Invest $2.5 Billion in India’s Renewable Energy Sector by 2029.</li>
<li>Cement Firms Plan Rs 1.5-Trillion Investment to Meet Growing Demand.</li>
</ul>


Hindalco's $10 Billion Expansion to Drive Aluminium and Copper Growth.
BC Jindal Group to Invest $2.5 Billion in India’s Renewable Energy Sector by 2029.
Cement Firms Plan Rs 1.5-Trillion Investment to Meet Growing Demand.


# 49 India Insight: Hindalco $ 10 Bn Expansion, BC Jindal RE, Cement Firms Plans

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

Holding Bursatil Regional SA operates as a holding company. The Company, through its subsidiaries, provides consumer finance solutions.

<ul><li>NUAM Exchange is a Chilean holding company formed from a merger of stock exchanges in Chile, Colombia, and Peru in October 2023</li><li>Shareholders of the previous exchanges received varying percentages of ownership in NUAM</li><li>The company is in the process of merging operations to create a single equity market, trading system, and team by the end of 2025; reported pro forma 2023 numbers of 129.9 million in revenues, 50.1 million in EBITDA, and 30.9 million in net profits.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

NUAM Exchange is a Chilean holding company formed from a merger of stock exchanges in Chile, Colombia, and Peru in October 2023Shareholders of the previous exchanges received varying percentages of ownership in NUAMThe company is in the process of merging operations to create a single equity market, trading system, and team by the end of 2025; reported pro forma 2023 numbers of 129.9 million in revenues, 50.1 million in EBITDA, and 30.9 million in net profits.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Nuam Exchange (NUAM CI, NUAMCO CB, NUAM ) - Wednesday, May 22, 2024