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.

Quantitative Analysis

<ul>
<li>An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.</li>
<li>The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.</li>
<li>Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.</li>
</ul>


An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.
The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.
Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.


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

Thematic (Sector/Industry)

<ul>
<li>Larsen &amp; Toubro (L&amp;T) plans to generate INR 40,000 crore in pre-sales revenue through aggressive land acquisition and portfolio expansion.</li>
<li>NLC India aims to reach a mining capacity of 1 MTPA for critical minerals by FY30</li>
<li>Reliance's Viacom 18-Disney Merger Approved, Creating India’s Largest Media Empire</li>
</ul>


Larsen &amp; Toubro (L&amp;T) plans to generate INR 40,000 crore in pre-sales revenue through aggressive land acquisition and portfolio expansion.
NLC India aims to reach a mining capacity of 1 MTPA for critical minerals by FY30
Reliance's Viacom 18-Disney Merger Approved, Creating India’s Largest Media Empire


# 63 India Insight: L&T to Raise INR 400 Billion, NLC Targets 1 MTPA Capacity, Tata Motors Start JLR

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>China's SSE Composite Index surged 18% due to government stimulus measures, focusing on real estate and financial sector revival.</li>
<li>Stimulus boosts global commodity demand, while India's domestic market remains resilient despite minor FPI rebalancing towards China.</li>
<li>China's recovery doesn’t significantly impact India's growth, driven by strong domestic inflows and stable market conditions.</li>
</ul>


China's SSE Composite Index surged 18% due to government stimulus measures, focusing on real estate and financial sector revival.
Stimulus boosts global commodity demand, while India's domestic market remains resilient despite minor FPI rebalancing towards China.
China's recovery doesn’t significantly impact India's growth, driven by strong domestic inflows and stable market conditions.


Will China’s Stock Market Rally Lead to a Shift in FPI Flows from India?

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>Markets have taken on a risk-on tone on the news of global central bank stimulus. Gold has rallied the most as real rates fell, equities rose and bond prices fell.</li>
<li>But the market's risk-on psychology appears to be stretched and fragile.</li>
<li>While the long-term bullish trend is quite real, the consensus is susceptible to reversals should growth disappoint in the near-term.</li>
</ul>


Markets have taken on a risk-on tone on the news of global central bank stimulus. Gold has rallied the most as real rates fell, equities rose and bond prices fell.
But the market's risk-on psychology appears to be stretched and fragile.
While the long-term bullish trend is quite real, the consensus is susceptible to reversals should growth disappoint in the near-term.


The Winners and Losers From Central Bank Stimulus

Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Founder & Head of Research

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

Premium Economic & Investment Research

<ul>
<li>USD strength is ebbing across the board, which provides a positive force for most EM currencies on a spot basis. </li>
<li>However, where inflation differentials are large, the downward pressure will remain in 2025 e.g. Turkish Lira (TRY)</li>
<li>Where inflation differentials are modest against the U.S., but interest rate differentials are wider then this can mean modest appreciation – especially if the starting point is an undervalued currency. </li>
</ul>


USD strength is ebbing across the board, which provides a positive force for most EM currencies on a spot basis. 
However, where inflation differentials are large, the downward pressure will remain in 2025 e.g. Turkish Lira (TRY)
Where inflation differentials are modest against the U.S., but interest rate differentials are wider then this can mean modest appreciation – especially if the starting point is an undervalued currency. 


EM FX Outlook: Fed Easing Helps but Divergent Trends