Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

Thematic (Sector/Industry)

The shambolic Republican healthcare reform effort is now dead – a vote to simply repeal Obamacare without any replacement looks unlikely as the focus turns to next year’s mid-term elections.A bipartisan effort to rein in healthcare costs (including medications) and hence surging insurance premiums is now feasible - the recent rally in US biotech would be cut short in that scenario.Although US data like retail sales remains soft, the removal of healthcare uncertainty should prove bullish over the…

The shambolic Republican healthcare reform effort is now dead – a vote to simply repeal Obamacare without any replacement looks unlikely as the focus turns to next year’s mid-term elections.A bipartisan effort to rein in healthcare costs (including medications) and hence surging insurance premiums is now feasible - the recent rally in US biotech would be cut short in that scenario.Although US data like retail sales remains soft, the removal of healthcare uncertainty should prove bullish over the…

Republican Healthcare Plan Implodes, as Quant Investing Boom Fails to Deliver...

<ul type="disc">
<li>Canadian household debt to GDP stands at a record and about 70ppts higher than the US - house prices are at historically high levels versus incomes and rents.</li>
<li>In real terms, the median Toronto house price has doubled in real terms over the past decade – selling prices in the city were up 33% y/y last month, sparking the introduction of a 15% tax on foreign buyers.</li>
<li>Rising risk aversion reflected in tighter consumer lending criteria (particularly for subprime borrowers) will drag on growth next year…</li>
</ul>


Canadian household debt to GDP stands at a record and about 70ppts higher than the US - house prices are at historically high levels versus incomes and rents.
In real terms, the median Toronto house price has doubled in real terms over the past decade – selling prices in the city were up 33% y/y last month, sparking the introduction of a 15% tax on foreign buyers.
Rising risk aversion reflected in tighter consumer lending criteria (particularly for subprime borrowers) will drag on growth next year…


Canadian Canaries in the Basement, China Insurers Attractive…

Head of Research at Fusion Wealth Management Ltd

Michael McGaughy

In my research and investing I stress three things: people, structure, and value.  I look for companies that are controlled and managed by quality people, have corporate structures that align minority and majority shareholder interests and trade at valuations that are below fair value if not outright cheap. This note is actually not about any of that and instead just a quick one about bitcoin and how my initial skepticism may have been wrong.  I usually don’t write “macro” or ‘thought pieces’…

In my research and investing I stress three things: people, structure, and value.  I look for companies that are controlled and managed by quality people, have corporate structures that align minority and majority shareholder interests and trade at valuations that are below fair value if not outright cheap. This note is actually not about any of that and instead just a quick one about bitcoin and how my initial skepticism may have been wrong.  I usually don’t write “macro” or ‘thought pieces’…

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

One of America's most prestigious investment banks was fined hundreds of millions of dollars last year for bribing Chinese officials through its 'Sons and Daughters Program'. The silence since then from Chinese anti-corruption officials has been deafening.

One of America's most prestigious investment banks was fined hundreds of millions of dollars last year for bribing Chinese officials through its 'Sons and Daughters Program'. The silence since then from Chinese anti-corruption officials has been deafening.

Chinese Officials Turn a Blind Eye to Corruption

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond market. As the third largest bond market in the world, this could be a significant boost to international investors wanting access to the Mainland China debt market.<div class="content-highlight">On 15 March 2017, following the fifth annual meeting of the 12th National People' Congress, Premier Li Keqiang announced the intention to launch a bond trading link between China and Hong Kong…</div>

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond market. As the third largest bond market in the world, this could be a significant boost to international investors wanting access to the Mainland China debt market.On 15 March 2017, following the fifth annual meeting of the 12th National People' Congress, Premier Li Keqiang announced the intention to launch a bond trading link between China and Hong Kong…

China-Hong Kong Bond Connect on Its Way. A Legal Update from Dechert's Financial Services Group

China

China Life Insurance Company Ltd. offers a wide range of life, accident, and health insurance products and services.

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China Life Insurance Co H (2628 HK)

Republican Healthcare Plan Implodes, as Quant Investing Boom Fails to Deliver...

The shambolic Republican healthcare reform effort is now dead – a vote to simply repeal Obamacare without any replacement looks unlikely as the...

Sean Maher

Canadian Canaries in the Basement, China Insurers Attractive…

Canadian household debt to GDP stands at a record and about 70ppts higher than the US - house prices are at historically high levels versus...

Sean Maher

Bitcoin - The View From Lagos

In my research and investing I stress three things: people, structure, and value. I look for companies that are controlled and managed by quality...

Michael McGaughy

Chinese Officials Turn a Blind Eye to Corruption

One of America's most prestigious investment banks was fined hundreds of millions of dollars last year for bribing Chinese officials through its...

Bixmoor

China-Hong Kong Bond Connect on Its Way. A Legal Update from Dechert's Financial Services Group

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond...

Dechert LLP

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)