Sample Track Record

Quotes from published research notes, positions from model portfolio

Short Indian Equities March 2020 (iShares ETF) +21.5%

'In EM, I've initiated a short India position. This growth shock is already exposing underlying vulnerabilities – for instance, the nationalisation last week of Yes bank to pre-empt a bank run against a backdrop of the NPL and credit growth crisis I’ve been covering for the past couple of years has long seemed likely, but has been fast forwarded. While not as dependent on tourism revenues as many Asian peers, and a lower oil import bill will help, the reliance on foreign portfolio inflows leaves it acutely vulnerable. The underperformance of weak versus strong balance sheet companies as much as countries in the recent selloff underlines that investors are now focused on these tail risks...'  Weekly Insight, 9th March 2020

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