Focal point

Our take on the latest investment themes

View [Struggle for oil market supremacy] USA Oil rig in Desert

Struggle for oil market supremacy

by Kim Catechis

The confrontation is being billed as Saudi versus Russia, but they both want to knock out a common irritant: US shale oil producers, who they feel have had a free ride (with free money) while the two heavyweights have taken the pain of price stabilisation.

11 March 2020
View [COVID-19: are we ready] Behind the Headlines COVID-19 woman wearing mask

COVID-19: are we ready

by Kim Catechis

COVID-19 is now present in every continent and the rate of confirmation of new cases is accelerating, with new epicentres in South Korea, Iran and Italy...

5 March 2020
View [Death and Taxes] Behind the Headlines - white figures casting long shadows

Death and Taxes

by Kim Catechis

In most countries, populations are getting older and living longer, with clearly increasingly onerous implications for the corresponding expenses (healthcare, pensions and social benefits/care)...

24 February 2020
View [Indian labour law reform] /sitecore/media library/Articles/2020Q1/BTH Indian labour law reforms/BTHIndiaLabourAbstract

Indian labour law reform

by Kim Catechis

At first glance, labour law would seem to be a bit esoteric for most people, even diligent investors. However, it is one of the structural levers that can be instrumental in boosting economic growth.

29 January 2020
View [New Coronavirus outbreak] BTHAbstract

New Coronavirus outbreak

by Kim Catechis

The Emergency Committee of the World Health Organisation met on 23rd January1, to consider the outbreak of a new strain of the Coronavirus, which originated in Wuhan, Central China.

29 January 2020
View [Global growth – what should we worry about?] BTHGlobalGrowthAbstract

Global growth – what should we worry about?

by Kim Catechis

The IMF’s latest World Economic Outlook is cautiously optimistic on the prospects for a gradual global economic growth recovery...

27 January 2020
View [What Currency Manipulation?] BTHCurrencyManipulationAbstract

What Currency Manipulation?

by Kim Catechis

In another historic move, the US Treasury has reversed its designation of China as a currency manipulator, after only four months. It sounds important, but it is essentially more meaningless theatre for investors...

16 January 2020
View [The US-China Phase I trade deal – Much ado about nothing?] BTHUSCHINAPhase1Abstract

The US-China Phase I trade deal – Much ado about nothing?

by Kim Catechis

The US – China trade war has now been escalating for 32 months. Investors are fatigued and worried about the implications for global economic growth. Their weariness is evidenced in a decreasing level of interest in the detail and heightened focus on the headlines.

18 December 2019
View [Brazil – Turning point for equity culture?] BTHBrazilTurningPointAbstract

Brazil – Turning point for equity culture?

by Kim Catechis

When real rates are high, it’s easy to keep your clients happy. This will result in a wider dispersion in returns, as investment managers begin to demonstrate their worth. This is the turning point for equity culture in Brazil – the job just got more complex!

4 November 2019