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)

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<li><div><span lang="EN-US">The Republican sweep in Washington and the unique nature of his insurgent victory means Trump faces fewer constraints on his power than any recent President.</span></div></li>
<li><div><span lang="EN-US">Trade and infrastructure spending are likely to be two key priorities – he can overturn established trade agreements and impose punitive tariffs without recourse to Congress.</span></div></li>
<li><div>However, the Mexican NAFTA deal rather than Asia is likely to be the initial focus of any trade pressure.</div></li>
<li><div>Trump’s economic policies (and many of his advisors) will be…</div></li>
</ul>


The Republican sweep in Washington and the unique nature of his insurgent victory means Trump faces fewer constraints on his power than any recent President.
Trade and infrastructure spending are likely to be two key priorities – he can overturn established trade agreements and impose punitive tariffs without recourse to Congress.
However, the Mexican NAFTA deal rather than Asia is likely to be the initial focus of any trade pressure.
Trump’s economic policies (and many of his advisors) will be…


President Trump Taking America Back to the 1980s…

Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

<p>As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology stocks.</p><p>The biggest benefit to the US tech sector will come from lower tax rates. The biggest risk is trade wars that result in higher tariffs and retaliation against US tech companies. The wildcard is regulation: net neutrality rules – if relaxed – could shift the balance of power from internet companies to telcos.</p><p>Below we look at five themes emanating from Mr Trump's policies that have a direct impact on the global tech sector: taxation, trade, regulation, cybersecurity and social media.</p>

As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology stocks.The biggest benefit to the US tech sector will come from lower tax rates. The biggest risk is trade wars that result in higher tariffs and retaliation against US tech companies. The wildcard is regulation: net neutrality rules – if relaxed – could shift the balance of power from internet companies to telcos.Below we look at five themes emanating from Mr Trump's policies that have a direct impact on the global tech sector: taxation, trade, regulation, cybersecurity and social media.

Transport Sector, China and Asia-focused Research

Charles De Trenck

<p>People used to say Texas would be the most likely state to secede from the Union. Even recently. Now they will write about California seceding. And see this comment <a href="http://www.vanityfair.com/news/2016/11/how-a-trump-administration-could-terrorize-silicon-valley" target="_blank">today</a> on Trump and Silicon Valley.</p><p>Tech plays aka many California plays from <a href="https://www.smartkarma.com/entities/409" target="_blank" data-smartkarma-citation="entities:409">Amazon.Com Inc (AMZN US)</a> to <a href="https://www.smartkarma.com/entities/20279" target="_blank" data-smartkarma-citation="entities:20279">Tesla Motors Inc (TSLA US)</a> have fared poorly in the first round of a Trump-elect rally. As somewhat expected the other night, names like BTUUQ (new ticker pink sheets) <a href="https://www.smartkarma.com/entities/6430" target="_blank" data-smartkarma-citation="entities:6430">Peabody Energy Corp (BTU US)</a> (+50% yesterday and a further 15%…</p>

People used to say Texas would be the most likely state to secede from the Union. Even recently. Now they will write about California seceding. And see this comment today on Trump and Silicon Valley.Tech plays aka many California plays from Amazon.Com Inc (AMZN US) to Tesla Motors Inc (TSLA US) have fared poorly in the first round of a Trump-elect rally. As somewhat expected the other night, names like BTUUQ (new ticker pink sheets) Peabody Energy Corp (BTU US) (+50% yesterday and a further 15%…

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<p>We recommended going negative on a Terminal High Altitude Defense (THAAD) related basket of stocks on October 1st, 2016. This short has been working pretty well. From From September 30th to November 9th, this basket of THAAD related stocks was down 9.4% on average while KOSPI was down 5.1% during the same period. <strong>We believe now is the time to close out the THAAD related basket of shorts. </strong>We give three reasons why.</p><ol><li><div class="content-highlight">
<strong>There are increasing indications that the next Trump administration may not enforce</strong>…</div></li></ol>

We recommended going negative on a Terminal High Altitude Defense (THAAD) related basket of stocks on October 1st, 2016. This short has been working pretty well. From From September 30th to November 9th, this basket of THAAD related stocks was down 9.4% on average while KOSPI was down 5.1% during the same period. We believe now is the time to close out the THAAD related basket of shorts. We give three reasons why.
There are increasing indications that the next Trump administration may not enforce…

Close Out the Shorts on THAAD Related Basket - TRUMP May Not Enforce THAAD Deployment

<p>It is not official yet. But against many odds it looks like Trump has taken it.  There are many implications we need to act on in our portfolios. ... </p><p>I didn’t think he’d manage it. His indiscretions seemed too large, his gaffes too many. But what we saw, with some 1+m Trump win of the popular vote, was the forgotten rural Americans voting anti-Clinton in greater numbers than expected, particularly in Blue Belt (Rust Belt) areas of the US Center. All while doing what Trump said he would do in…</p>

It is not official yet. But against many odds it looks like Trump has taken it.  There are many implications we need to act on in our portfolios. ... I didn’t think he’d manage it. His indiscretions seemed too large, his gaffes too many. But what we saw, with some 1+m Trump win of the popular vote, was the forgotten rural Americans voting anti-Clinton in greater numbers than expected, particularly in Blue Belt (Rust Belt) areas of the US Center. All while doing what Trump said he would do in…

Against [Official] Odds It's a Trump USA Now

United States

SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF is structured as a Unit Investment Trust and pays dividends on a quarterly basis. The holdings are weighted by market capitalization.

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President Trump Taking America Back to the 1980s…

The Republican sweep in Washington and the unique nature of his insurgent victory means Trump faces fewer constraints on his power than any recent...

Sean Maher

What Trump Means for Tech

As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology...

CM Research

The Trump Rally Portfolio Reorganization

People used to say Texas would be the most likely state to secede from the Union. Even recently. Now they will write about California seceding. And...

Charles De Trenck

Against [Official] Odds It's a Trump USA Now

It is not official yet. But against many odds it looks like Trump has taken it. There are many implications we need to act on in our portfolios....

Charles De Trenck

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President Trump Taking America Back to the 1980s…

The Republican sweep in Washington and the unique nature of his insurgent victory means Trump faces fewer constraints on his power than any recent...

Sean Maher

What Trump Means for Tech

As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology...

CM Research

The Trump Rally Portfolio Reorganization

People used to say Texas would be the most likely state to secede from the Union. Even recently. Now they will write about California seceding. And...

Charles De Trenck

Close Out the Shorts on THAAD Related Basket - TRUMP May Not Enforce THAAD Deployment

We recommended going negative on a Terminal High Altitude Defense (THAAD) related basket of stocks on October 1st, 2016. This short has been...

Douglas Kim

Against [Official] Odds It's a Trump USA Now

It is not official yet. But against many odds it looks like Trump has taken it. There are many implications we need to act on in our portfolios....

Charles De Trenck