Asia EM Cure for Global Malaise

Featuring Ajay Singh Kapur

Having been ‘super bearish’ for five years on emerging markets and Asia (ex Japan), Ajay Kapur explains why he turned bullish on the sector earlier this year.

Published on
27 September, 2016
Topic
China, Global Outlook, Global Investment
Duration
34 minutes
Asset class
Equities, Currencies
Rating
29

Comments

  • TC

    Thomas C.

    25 6 2017 12:21

    0       0

    A fery ineteresting article very informative and knowlegable . However, for a man worth a few bucks a correctly fitted suit and a decent haircut would make him so much more rounded and believable. But

  • gp

    gs p.

    9 10 2016 17:16

    1       0

    Mostly borrowed wisdom. No track record to speak off. Waste of time!

  • gp

    gs p.

    9 10 2016 17:09

    4       0

    Behind such "know all" facades lie folks who not only "synthesize" the world into a three point formulas for our benefit(!), but also constantly jump ship every few years for which the reasons may be obvious.
    A true markets person is not prosaic drone like these folks. He/She is typically humble at heart as he/she knows that there are a lot of things that are out there that can frustrate their efforts.
    Little wonder these strategists are no experts, have never managed money or their attempts in that direction have been overwhelmingly unsuccessful.

  • AH

    ANNIE H.

    4 10 2016 21:33

    0       0

    So worth the time spent. Thank you.

  • DC

    Dave C.

    1 10 2016 01:21

    2       1

    Wow, an interview with the author of the plutonomy reports - great work RV. Good interview but I am a tad disappointed that more time was not spent on the topic and concept of plutonomy - including the authors latest thinking in this area. I hope this can be covered in the future.

  • gg

    gurdeep g.

    30 9 2016 16:54

    0       0

    Easily the most dapper indian gent i've seen. Great interview too

  • de

    dale e.

    29 9 2016 18:11

    0       0

    Great interview.

  • SR

    Steve R.

    28 9 2016 20:48

    6       0

    "You can't perpetually bring forward future demand" - the problem in a nutshell!!!

  • WK

    William K.

    28 9 2016 18:41

    0       0

    Ajay, you are welcome.

  • BM

    Bryan M.

    28 9 2016 18:17

    4       0

    Old...Indebted...and unequal...sounds like the story of my life!

  • db

    don b.

    28 9 2016 15:31

    4       4

    Not sure how you can not like this interview.

  • T~

    Tshort63 ~.

    28 9 2016 04:01

    11       4

    These speakers are great, no doubt. Far smarter than myself yet many of the speakers feel like they are providing an investor pitch designed to show how smart they are. Contrasted with the give and take discussions these are harder to assess. Can we get some indicator of past performance or current performance? Without that I agree with the people that see the world as I do and disagree with those who don't. A relative benchmark of accuracy/performance would be great. Thanks.

  • jm

    jim m.

    27 9 2016 23:39

    2       2

    Clear thinker. Makes a good case for some EM. Sees china accelerating. Price to Book and Price to Ebitda look attractive. Keep it simple, stupid. Headwinds to growth and inflation in developed World include facts: demographics are old, societies are overly indebted, and societies are unequal. Underweight DM.

  • jd

    john d.

    27 9 2016 19:01

    1       2

    Great interview thanks. As a western investor, you have to be very careful how to gain exposure within Asia due to less than satisfactory property rights, corruption and rule of law in many countries. I focus on mining investments and as an NZer invest a lot via the Australian miners/ markets. Asia has progressively become very difficult for Australian companies to operate and there are multiple examples of asset appropriation and a growing list of 'do-not-touch' countries, the latest being the Philippines.

  • KC

    Klendathu C.

    27 9 2016 12:14

    18       1

    A lot of people now bullish on South Asia. I agree the demographics look great, but I think something may be missing here. The $. I've been waiting for consensus to finally turn bearish on the dollar for over a year now and it looks like we are finally there. He specifically failed to mention the dollar shortages going on in Saudi Arabia, China, Japan, and Europe. Central bank holdings at the Fed are dropping as they sell the treasuries for high demand dollars. I think any long south Asia position should be merely treated as a way to hedge one's long dollar theme.

  • JV

    JACK V.

    27 9 2016 11:32

    9       8

    Good discussion, but changing jelly donuts into samosas does not make David Einhorn's analogy your own.