Entext Communications Ltd t/a Entext Economics & Strategy is an appointed representative of Messels Ltd, which is authorised and regulated by the Financial Conduct Authority of the UK. The content of this site is exclusively for professional investors and in no way constitutes financial, investment, tax or any related forms of advice in any jurisdiction and is one of many possible sources of information for readers.

Who We Are

Incisive  Global Asset Allocation and Thematic Research

 

Our Approach

We don't forecast GDP, inflation or any other macro variables but instead analyse consensus expectations for evidence of erroneous group think creating contrarian inflection points in asset allocation flows. We overlay our fundamental asset views with percentile ranked long-term positioning data to generate high-probability outcomes.

 

Most top-down analysis is overly focused on near-term data noise, rarely connecting the powerful underlying investment forces from demographic decline to the rise of the dematerialized 'algorithm economy' which have driven structurally low inflation, fixed investment demand and bond yields as well as the growing dominance of a Chinese/US tech oligopoly. 

 

As well as secular investment themes, we have a demonstrable record in identifying key tactical inflection points in relative asset performance by closely monitoring extreme market positioning, creating valuation anomalies amplified by the rise of quantitative/factor model driven strategies as a key force in markets. 

Our core product is an in-depth and highly readable 8-12 page weekly note filled with our distinctive macro charts, covering any investment topic or theme which we think most relevant to subsequent portfolio returns, from Chinese FX policy to key technology trends. Above all, we make distinctive market calls and stand behind them. 

 

The team is led by founder Sean Maher, who began his career as an analyst with leading commodity market consultancy CRU Group. He has since worked as an equity PM with RLAM, the asset management arm of the UK's largest mutual insurer, in investment banking research with WestLB and Nomura and as consultant economist to the HK based Pacific Basin Economic Council. He is a regular speaker at investment conferences, is a member of the CFA Institute and was shortlisted for the 2018 Society of Business Economists' Rybzcynski prize. 

 

Recent Thematic Research 

 

  • Has China Won the 'Al Arms Race'?

  • Overweight Sensor/Semiconductor Exposure to Embedded Intelligence Connectivity Theme 

  • Accelerating EV/AV  Investment Implies Rising Auto Sector Dispersion and Credit Risk

  • Asia's 'In-App' Gaming Advertising Model and the Rise of Esports

  • Grid Storage Underpins Lithium Ion Battery Demand

  • Quantum Computing an Existential Threat to Cryptocurrency Hopes?

  • Implications of Pharmaceuticals Evolving Into 'Biological Software' 

Client Services

 

  • Overnight comment and in-depth weekly macro analysis reports by subscription

  • Regular roadshow meetings and ad hoc conference calls

  • Bespoke outsourced macro research for third-party clients

  • Conference and client 'off site' presentations and speeches

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