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)

China Energy / Thematic (Sector/Industry)

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.

Shanxi Lu'An Environmental Energy Dev.Co (601699 CH)

Inner Mongolia Yitai Coal Company Ltd (3948 HK)

Rabigh Refining And Petrochemical Company (PETROR AB)

Rabigh Refining And Petrochemical Company

How Oil Can Head over $100 by 2017