Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Macroeconomics

<ul>
<li>The 3-month annualized change of all six CPI measures in our US Inflation Monitor fell compared to February.</li>
<li>Given the levels of inflation and its poor track record, the Fed will want to put one extra hike in to be ‘better safe than sorry.’</li>
<li>The odds markets will win this battle with Powell are increasing, but only because so is the likelihood of a recession.</li>
</ul>


The 3-month annualized change of all six CPI measures in our US Inflation Monitor fell compared to February.
Given the levels of inflation and its poor track record, the Fed will want to put one extra hike in to be ‘better safe than sorry.’
The odds markets will win this battle with Powell are increasing, but only because so is the likelihood of a recession.


The Market’s Triumph over the Fed: Winning by Losing!

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<ul>
<li>Compelling intraday reversal that kissed 4,177. Concern over an early fade below 4,200 was justified and formed a dual top. Fade below 4,165 was negative and used to sell.</li>
<li>Growth concerns overshadowing lower inflation (transitioning) and this is a theme that we expect will expand over the summer along with the next round of bank failures/ripples and systemic risk. </li>
<li>Cycle: May/June a more negative cycle. Second half of April is when bull energy dissipates and starts the turning process.</li>
</ul>


Compelling intraday reversal that kissed 4,177. Concern over an early fade below 4,200 was justified and formed a dual top. Fade below 4,165 was negative and used to sell.
Growth concerns overshadowing lower inflation (transitioning) and this is a theme that we expect will expand over the summer along with the next round of bank failures/ripples and systemic risk. 
Cycle: May/June a more negative cycle. Second half of April is when bull energy dissipates and starts the turning process.


Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul>
<li>WTR Sustainable Index: During the week ended April 7, 2023, the WTR Sustainable Index underperformed the broader market, falling 9.0% W/W versus the S&amp;P 500 Index (down 0.1%), the Russell 2000 Index (down 2.7%), and the Nasdaq Composite Index (down 1.1%).</li>
<li>Advanced Transportation Solutions (70.0% of the index) contributed to the index underperformance, falling 10.4%, while Industrial Climate and Ag Technology (22.3% of the index) was down 4.5% and Energy Technology was down 8.9%.</li>
<li>Valuation: Based on forward 12-month consensus estimates, the current P/E ratio of the WTR Sustainable index is 26.6x versus 18.8x for the S&amp;P 500.</li>
</ul>


WTR Sustainable Index: During the week ended April 7, 2023, the WTR Sustainable Index underperformed the broader market, falling 9.0% W/W versus the S&amp;P 500 Index (down 0.1%), the Russell 2000 Index (down 2.7%), and the Nasdaq Composite Index (down 1.1%).
Advanced Transportation Solutions (70.0% of the index) contributed to the index underperformance, falling 10.4%, while Industrial Climate and Ag Technology (22.3% of the index) was down 4.5% and Energy Technology was down 8.9%.
Valuation: Based on forward 12-month consensus estimates, the current P/E ratio of the WTR Sustainable index is 26.6x versus 18.8x for the S&amp;P 500.


Weekly Sustainable Investing Surveyor : Week Ended April 7, 2023

<ul>
<li>Stock indexes finished the holiday-shortened week almost exactly flat, as the MSCI World Index and the S&amp;P 500 ended at 0.01% and -0.05%, respectively.</li>
<li>Smalls caps followed suit, with the Russell 2000 down 0.01%.</li>
<li>As has been the trend lately, cannabis stocks declined. The US cannabis-focused MSOS ETF dropped 6.36%, led by Curaleaf (CSE: CURA, OTCQX: CURLF), which was down 15.35%.</li>
</ul>


Stock indexes finished the holiday-shortened week almost exactly flat, as the MSCI World Index and the S&amp;P 500 ended at 0.01% and -0.05%, respectively.
Smalls caps followed suit, with the Russell 2000 down 0.01%.
As has been the trend lately, cannabis stocks declined. The US cannabis-focused MSOS ETF dropped 6.36%, led by Curaleaf (CSE: CURA, OTCQX: CURLF), which was down 15.35%.


The Highlights : Cannabis News for the Week Ending April 7, 2023

Founder, TPW Advisory

TPW Advisory

Founder

Independent Investment Advisory Boutique

TPW Advisory is an independent investment advisory boutique located in NYC offering asset allocation & portfolio strategy advice, white label research and global, multi asset ETF based model portfolio delivery services.

Cross Asset Strategy

<ul><li>We go back to one of our favorite movies: The Wizard of Oz, to discuss what happens when investors pull back the curtain on the Fear, Uncertainty &amp; Doubt (FUD) hype machine.</li><li>We believe that what lies behind the curtain is not a big, bad, brown Kodiak bear but rather a series of important policy changes that are in process of unfolding across the Tri Polar World.</li><li>These include: Central Bank acceptance of higher inflation targets; the return of US Industrial Policy after a 70 year absence; Europe’s push for integration across energy, tech, defense and climate; Japan’s shift off YCC and China’s adoption of a domestic demand led growth strategy.</li></ul>

We go back to one of our favorite movies: The Wizard of Oz, to discuss what happens when investors pull back the curtain on the Fear, Uncertainty &amp; Doubt (FUD) hype machine.We believe that what lies behind the curtain is not a big, bad, brown Kodiak bear but rather a series of important policy changes that are in process of unfolding across the Tri Polar World.These include: Central Bank acceptance of higher inflation targets; the return of US Industrial Policy after a 70 year absence; Europe’s push for integration across energy, tech, defense and climate; Japan’s shift off YCC and China’s adoption of a domestic demand led growth strategy.

TPW Advisory April Monthly: Look Behind The Curtain

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

The Market’s Triumph over the Fed: Winning by Losing!

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Jeroen Blokland

SPX Rally Failure Below 4,200

Compelling intraday reversal. Concern over an early fade below 4,200 was justified and formed a dual top. Fade below 4,165 a negative and used to...

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Weekly Sustainable Investing Surveyor : Week Ended April 7, 2023

During the week ended April 7, 2023, the WTR Sustainable Index underperformed the broader market, falling 9.0% W/W versus the S&P 500 Index (down...

Water Tower Research

The Highlights : Cannabis News for the Week Ending April 7, 2023

Stock indexes finished the holiday-shortened week almost exactly flat, as the MSCI World Index and the S&P 500 ended at 0.01% and -0.05%,...

Water Tower Research

TPW Advisory April Monthly: Look Behind The Curtain

We go back to one of our favorite movies: The Wizard of Oz, to discuss what happens when investors pull back the curtain on the Fear, Uncertainty &...

TPW Advisory