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>A longstanding theme has been that an explosion in tech innovation means aggregate market earnings power will increasingly concentrate in the sector, justifying a structural overweight.</li>
<li>That’s reflected in the fact that the S&amp;P 500 IT sector forward margin on consensus IBES data is now more than double that of rest of the market (over 20% vs. 9.7%).</li>
<li>From the 2009 trough at about 9%, the IT sector has seen a spectacular level of margin expansion as well as revenue growth (over 10% forecast this…</li>
</ul>


A longstanding theme has been that an explosion in tech innovation means aggregate market earnings power will increasingly concentrate in the sector, justifying a structural overweight.
That’s reflected in the fact that the S&amp;P 500 IT sector forward margin on consensus IBES data is now more than double that of rest of the market (over 20% vs. 9.7%).
From the 2009 trough at about 9%, the IT sector has seen a spectacular level of margin expansion as well as revenue growth (over 10% forecast this…


Tech Value in Niche Themes, China Credit Squeeze Risks Collateral Damage…