In my early 2021 posts on inflation, I argued that while the higher inflation that we were just starting to see could be explained by COVID and supply chain issues, prudence on the part of policy makers required that it be taken as a long term threat and dealt with quickly. Not only did they […]
On July 21, 2021, I valued Zomato just ahead of its initial public offering at about ₹41 per share. The market clearly had a very different view, as the stock premiered at ₹74 per share and soared into the stratosphere, peaking at ₹169 per share in late 2021. The last few months have been rocky, as the price […]
It has been my practice for the last two decades to take a detailed look at how risk varies across countries, once at the start of the year and once mid-year. In most years, the differences between the two updates are small, and often ignorable, but this year's update brings significant changes for many reasons. […]
As inflation has taken center stage, markets have gone into retreat globally, and across asset classes. In 2022, as bond rates have risen, stock prices have fallen, and crypto has imploded, even true believers are questioning what the bottom for markets might be, and when we will get there. While it is easy to call […]
In my last post, I discussed how inflation's return has changed the calculus for investors, looking at how inflation affects returns on different asset classes, and tracing out the consequences for equity values, in the aggregate. In general, higher and more volatile inflation has negative effects on all financial assets, from stocks to corporate bonds […]
The nature of markets is that they are never quite settled, as investors recalibrate expectations constantly and reset prices. In most time periods, those recalibrations and resets tend to be small and in both directions, resulting in the ups and downs that pass for normal volatility. Clearly, we are not in one of those time […]
I am not a prolific user of social media platforms, completely inactive on Facebook and a casual lurker on LinkedIn, but I do use Twitter occasionally, and have done so for a long time, with my first tweet in April 2009, making me ancient by Twitter standards. That said, I tweet less than ten times […]
My views on ESG are not a secret. I believe that ESG is, at its core, a feel-good scam that is enriching consultants, measurement services and fund managers, while doing close to nothing for the businesses and investors it claims to help, and even less for society. That judgment may be harsh, but as the […]
As the world's attention is focused on the war in the Ukraine, it is the human toll, in death and injury, that should get our immediate attention, and you may find a focus on economics and markets to be callous. However, I am not a political expert, with solutions to offer that will bring the […]
Asean countries’ exposure to climate risk – and their approaches to decarbonisation – varies, but they do face some common challenges; what will be key to helping them manage their energy transition will be their track record of regional cooperation, says Moody’s Investors Service.
RECRUITMENT and consulting company HRnetGroup is acquiring a majority 51 per cent stake in fintech startup Octomate from both an independent seller and Octomate’s chief executive and co-founder Zoey Tong.
SINGTEL has announced the appointment of Deloitte to undertake an independent review of Optus’ cybersecurity systems after its Australian subsidiary was hit by a cyberattack in late September, potentially compromising both current and former customers’ information.
EC WORLD Real Estate Investment Trust (EC World Reit) is proposing to divest its indirect interests in Bei Gang Logistics and Chongxian Port Logistics at the agreed property values of 1.2 billion renminbi (S$235.7 million) and 820 million renminbi respectively, each representing a premium of 2.9 per cent to their independent valuations.
INVESTORS were first rattled by hawkish Fedspeak from the US central bank and then the pounding of the British pound induced by tax cuts, sending them scurrying for the exit and resulting in the majority of stocks in Singapore closing in the red for September.