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)

In <a href="http://www.smartkarma.com/insights/how-oil-can-head-over-100-by-2017" target="_blank">my last thoughts on oil</a>, where I plotted some of the structural factors that might take it over $100 in the next few years, I noted that the probability of a December OPEC cut was being underpriced by the market.Today we have seen headlines that Saudi will do, Draghi-style, "whatever it takes" to stabilize the oil price including co-operating with the broader OPEC cartel.A shift in Saudi Arabian production strategy was one of the main drivers of the "double dip" in oil prices over the summer…

In my last thoughts on oil, where I plotted some of the structural factors that might take it over $100 in the next few years, I noted that the probability of a December OPEC cut was being underpriced by the market.Today we have seen headlines that Saudi will do, Draghi-style, "whatever it takes" to stabilize the oil price including co-operating with the broader OPEC cartel.A shift in Saudi Arabian production strategy was one of the main drivers of the "double dip" in oil prices over the summer…

Oil markets continue to be turgid as producers look to make up lower prices by increased volume.&nbsp;This has led to markets that are severely overstretched versus their fundamentals.If we look at the oil futures curve structure and elements likely to impact it, oil looks like it may surprise to the upside much as it has surprised to the downside.This piece summarises the bull case for a complex topic.

Oil markets continue to be turgid as producers look to make up lower prices by increased volume.&nbsp;This has led to markets that are severely overstretched versus their fundamentals.If we look at the oil futures curve structure and elements likely to impact it, oil looks like it may surprise to the upside much as it has surprised to the downside.This piece summarises the bull case for a complex topic.

Information Technology Consultant

Ishita Jain

The 2015 United Nations Climate Change Conference (COP21) to be held in Paris is another attempt to reign in global warming.&nbsp;India, the 3rd largest carbon emitter has, among other things, committed to reducing emissions by changing its energy mix to 40% from renewable sources of energy by 2030. This is an ambitious target and India's plan revolves around the sun. The government is taking steps in the right direction and the sector is receiving a lot of interest. While a lot is happening, let&rsquo;s take a look at the developments that could make this a very favourable sector to invest in.

The 2015 United Nations Climate Change Conference (COP21) to be held in Paris is another attempt to reign in global warming.&nbsp;India, the 3rd largest carbon emitter has, among other things, committed to reducing emissions by changing its energy mix to 40% from renewable sources of energy by 2030. This is an ambitious target and India's plan revolves around the sun. The government is taking steps in the right direction and the sector is receiving a lot of interest. While a lot is happening, let&rsquo;s take a look at the developments that could make this a very favourable sector to invest in.

Chairman, sgtradex

Tan Chin-Hwee

Chairman

The discourse on Asia&rsquo;s &ldquo;rise&rdquo; is dominated by China and India, countries whose vast populations and buoyant economies have captured the imagination of international investors, journalists and policy analysts.&ldquo;Chindia&rdquo;-scented rhetoric abounds with catchphrases that state the obvious, but whose import is less so. China has the hardware, India the software; India needs China&rsquo;s roads, China could do with India&rsquo;s political inclusiveness. Given how fundamentally different India and China are, though, such &ldquo;lessons learnt&rdquo; are of limited value.The more relevant comparison in Asia &ndash; and one with enormous implications for the global economy &ndash; is between India and its civilisational sibling, Indonesia. These two eclectic democracies share more in common than India and China, yet they are rarely hyphenated.Last year&rsquo;s elections saw the elevation of a new breed of popular leader in both countries. Narendra Modi, whose family ran a tea stall, has risen from near the bottom of India&rsquo;s caste and class hierarchies. Joko Widodo is from a similarly underprivileged background.

The discourse on Asia&rsquo;s &ldquo;rise&rdquo; is dominated by China and India, countries whose vast populations and buoyant economies have captured the imagination of international investors, journalists and policy analysts.&ldquo;Chindia&rdquo;-scented rhetoric abounds with catchphrases that state the obvious, but whose import is less so. China has the hardware, India the software; India needs China&rsquo;s roads, China could do with India&rsquo;s political inclusiveness. Given how fundamentally different India and China are, though, such &ldquo;lessons learnt&rdquo; are of limited value.The more relevant comparison in Asia &ndash; and one with enormous implications for the global economy &ndash; is between India and its civilisational sibling, Indonesia. These two eclectic democracies share more in common than India and China, yet they are rarely hyphenated.Last year&rsquo;s elections saw the elevation of a new breed of popular leader in both countries. Narendra Modi, whose family ran a tea stall, has risen from near the bottom of India&rsquo;s caste and class hierarchies. Joko Widodo is from a similarly underprivileged background.

The Rise of Asia: India and Indonesia's Shared Challenges and Opportunities.

India

Bharat Petroleum Corporation Limited explores for and refines crude oil. The Company manufactures petroleum, petroleum products, lubricants, liquefied petroleum gas, aromatics like benzene and toluene, and other related products. Bharat has retail outlets throughout the country.

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Bharat Petroleum Corp (BPCL IN)

Is an OPEC Cut Imminent?

In my last thoughts on oil, where I plotted some of the structural factors that might take it over $100 in the next few years, I noted that the...

Emad Mostaque

How Oil Can Head over $100 by 2017

Oil markets continue to be turgid as producers look to make up lower prices by increased volume. This has led to markets that are severely...

Emad Mostaque

The Case for Solar Energy in India

The 2015 United Nations Climate Change Conference (COP21) to be held in Paris is another attempt to reign in global warming. India, the 3rd largest...

Ishita Jain

The Rise of Asia: India and Indonesia's Shared Challenges and Opportunities.

The discourse on Asia’s “rise” is dominated by China and India, countries whose vast populations and buoyant economies have captured the...

Tan Chin-Hwee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)