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)

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is being felt in the Eurozone, but the shockwaves could lead to one more leg down in Emerging Markets and potentially the US this year.

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is being felt in the Eurozone, but the shockwaves could lead to one more leg down in Emerging Markets and potentially the US this year.

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

News flow remains extremely negative going into the Brexit vote. The current level of negativity in the news is similar to that seen during the global financial crisis. The main concerns are ‘Global Slowdown’ and ‘Brexit’. China concern has faded in recent months.Once Brexit is resolved - what will investors have to worry about?

News flow remains extremely negative going into the Brexit vote. The current level of negativity in the news is similar to that seen during the global financial crisis. The main concerns are ‘Global Slowdown’ and ‘Brexit’.  China concern has faded in recent months.Once Brexit is resolved - what will investors have to worry about?

RRG News Flow Monitor - Tracking Market Worries Into Brexit and Beyond

<ul class="ul1"><li class="li2">Trends in Consumer Sentiment across three key groups of countries is very concerning and clearly illustrate the risk that a Brexit or other blows to consumer sentiment in Europe pose to the global economy.</li></ul><ul class="ul1"><li class="li2">In this month's analysis of the RRG Global Consumer Sentiment Index (GCSI) we highlight the delicate balance of the global economy going into the June 23rd (Brexit) referendum and outline our recommended asset allocation going into and coming out of the UK's decision. </li></ul>

Trends in Consumer Sentiment across three key groups of countries is very concerning and clearly illustrate the risk that a Brexit or other blows to consumer sentiment in Europe pose to the global economy.In this month's analysis of the RRG Global Consumer Sentiment Index (GCSI) we highlight the delicate balance of the global economy going into the June 23rd (Brexit) referendum and outline our recommended asset allocation going into and coming out of the UK's decision. 

The Future of the Global Economy Lies in the Hands of a Small Group of Countries

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

The Federal Reserve can be expected to stay on course to normalize interest rate policy through the year as the unemployment rate continues to decline, hourly earnings remain on an upward trend and other economic indicators such as retail sales, house prices and consumer sentiment continue to improve on a trend basis.We expect the pace of rate increases to be very gradual, and see the Federal Funds rate around 1.0% by the end of 2016. The pace of increase will depend on the strength of the US…

The Federal Reserve can be expected to stay on course to normalize interest rate policy through the year as the unemployment rate continues to decline, hourly earnings remain on an upward trend and other economic indicators such as retail sales, house prices and consumer sentiment continue to improve on a trend basis.We expect the pace of rate increases to be very gradual, and see the Federal Funds rate around 1.0% by the end of 2016. The pace of increase will depend on the strength of the US…

US: Federal Reserve to Stay on Course to Normalize Rates

Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political risk in the US around Trump’s candidacy and the upcoming vote for a Brexit set to take place on June 23rd.  Inaction among four major central banks this week has highlighted the fact that major policy makers are very uncertain about the impact that a potential Brexit may have on the global economy. While the risk of Brexit seems to have faded today the markets may not have fully appreciated the risk to the global economy of a Brexit.The UK economy and consumer sentiment is tightly tied to a number of other European countries which have high consumer sentiment that has been buoying overall consumer sentiment.  Any risk to this group of exuberant countries puts global consumer sentiment at real risk of a sharp drop.

 Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political risk in the US around Trump’s candidacy and the upcoming vote for a Brexit set to take place on June 23rd.  Inaction among four major central banks this week has highlighted the fact that major policy makers are very uncertain about the impact that a potential Brexit may have on the global economy. While the risk of Brexit seems to have faded today the markets may not have fully appreciated the risk to the global economy of a Brexit.The UK economy and consumer sentiment is tightly tied to a number of other European countries which have high consumer sentiment that has been buoying overall consumer sentiment.  Any risk to this group of exuberant countries puts global consumer sentiment at real risk of a sharp drop.

Global Economy Dodges a Bullet - Brexit Could Cause Global Recession

United States

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

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Nike (NKE US)

Will Brexit Break EM's Back?

Against market expectations the British have voted to exit the European Union, a process that could take a few years. The first order impact is...

Emad Mostaque

RRG News Flow Monitor - Tracking Market Worries Into Brexit and Beyond

News flow remains extremely negative going into the Brexit vote.The current level of negativity in the news is similar to that seen during the...

David Riedel

The Future of the Global Economy Lies in the Hands of a Small Group of Countries

Trends in Consumer Sentiment across three key groups of countries is very concerning and clearly illustrate the risk that a Brexit or other blows...

David Riedel

US: Federal Reserve to Stay on Course to Normalize Rates

The Federal Reserve can be expected to stay on course to normalize interest rate policy through the year as the unemployment rate continues to...

Rajan Govil

Global Economy Dodges a Bullet - Brexit Could Cause Global Recession

Recently global equity markets have come under stress due to the high degree of uncertainty stemming from US Fed’s recent FOMC meeting, political...

David Riedel

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