Author: shyam

Global PMI Roundup

The Flash numbers came out yesterday. Here’s what you need to know:

US

PMI rebounds to eight-month high in November. Data confirms ongoing modest improvement in manufacturing business conditions.

US nov 2013 flash pmi

Eurozone

PMI signals slowing growth for second successive month in November. Composite Output Index is at a 3-month low, manufacturing is at a 2-month low.

Eurozone nov 2013 flash pmi

Germany

Composite Output Index is at a 10-month high. Manufacturing is at a 29-month high.

germany nov 2013 flash pmi

France

French private sector economy slips back into contraction. Composite Output Index is at a 5-month low, manufacturing is at a 6-month low.

france nov 2013 flash pmi

Source: Markit

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Quick! Throw your money away now!

Are we witnessing the rise Neo-Socialism? The words change, the data-set is new, but the story remains the same:

 

With globalisation, the share going to labour has withered everywhere, in countries as diverse as China, India, the UK, USA and Norway. In the future, the only way those relying on labour could raise their living standards will be by sharing the rental income gained by finance and capital investment in the global economy. We must imagine a new system of distribution, in which the whole of society receives a share of the rental income currently being taken wholly by financial capital.

 

Plus, there is a new acronym to be worried about, ESC (Economic Stabilisation Credit) aka individual, unconditional basic income.

Read the whole thing here.

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Because three heads are better than one

I have been compiling and maintaining different investment themes for a while now. We have the Quant and Story themes that reflect investment strategies that have proved to be successful over different time-horizons and market conditions. I am proud to introduce a couple of themes that have come from contributors outside of StockViz. Now users of StockViz will benefit from different perspectives that outsiders bring.

Velocity

The Velocity Theme is an equally weighted momentum theme that will be re-balanced at most once a month. Our own home-grown Momentum 200 Theme uses an efficiently weighted portfolio and ignores stocks that have split over last year. It will be interesting to see how a slight tweaking of momentum setups impact performance over the long term.

Long Term Equity

The Long Term Equity Theme is a portfolio of stocks and ETFs for an extremely long time-horizon. “Set it and forget it” if you will. I am thrilled to have someone who thinks with a different hat – we are mostly quantitative in our approach, even our fundamental analysis is quantitative. But that doesn’t mean that a long-term buy-and-forget approach will not work.

You can follow each of themes by clicking on the “Follow” button under each of these themes.

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Most loved and hated stocks by funds

Is there value in knowing what stocks were bought and sold by mutual funds?

We took a look at stocks that were exited by mutual funds and we ranked them according to the market value dumped. The 10 most hated stocks:

 

NTPC [stockquote]NTPC[/stockquote]
COALINDIA [stockquote]COALINDIA[/stockquote]
IDEA [stockquote]IDEA[/stockquote]
PETRONET [stockquote]PETRONET[/stockquote]
RELIANCE [stockquote]RELIANCE[/stockquote]
HEXAWARE [stockquote]HEXAWARE[/stockquote]
CAIRN [stockquote]CAIRN[/stockquote]
BAJAJ-AUTO [stockquote]BAJAJ-AUTO[/stockquote]
BALKRISIND [stockquote]BALKRISIND[/stockquote]
EXIDEIND [stockquote]EXIDEIND[/stockquote]
POWERGRID [stockquote]POWERGRID[/stockquote]

 

And similarly, the 10 most loved stocks:

AXISBANK [stockquote]AXISBANK[/stockquote]
BHARTIARTL [stockquote]BHARTIARTL[/stockquote]
WIPRO [stockquote]WIPRO[/stockquote]
TATASTEEL [stockquote]TATASTEEL[/stockquote]
RANBAXY [stockquote]RANBAXY[/stockquote]
DRREDDY [stockquote]DRREDDY[/stockquote]
SSLT [stockquote]SSLT[/stockquote]
INGVYSYABK [stockquote]INGVYSYABK[/stockquote]
MRF [stockquote]MRF[/stockquote]
BHARATFORG [stockquote]BHARATFORG[/stockquote]

Its still early days to see if fund decisions have any meaningful impact after disclosure. We’ll keep you posted!

Note:

 

  1. Portfolio data as-of 2013-10-31
  2. Only open ended funds that were in the “accumulation” phase were considered
  3. Funds named “growth” and with the “direct” option alone were considered
  4. Market value as-of closing 2013-10-31

 

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