The Dark Side of Glocalization (Even if Investment Opportunities)

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.
​
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 Consumer discretionary / Thematic (Sector/Industry)

<p>Against market expectations the British have voted to exit the European Union, a process that could take a few years. </p><p>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.</p>

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.

Will Brexit Break EM's Back?