In virtually all cases globally, movements in bank stocks tell us important information about property stocks. The assets of banks are mostly collateralized property. And the liabilities of property companies are mostly collateralized loans. Of course they are tied at the hip. A prime example is the Philippines. The bank stocks and the property stocks have a 98% correlation. They are the same creature. The charts inside show this without a shadow of a doubt. [...]
Paul Schulte has had a career in equity research which spans 22 years on both the buy and sell sides covering the Asian and emerging markets. He also has 5 years of government policy experience in emerging markets. He has been frequently ranked in top-five…read more
Philosophy
The Schulte Research Report focuses on banks, bank credit, liquidity & corporate solvency. Bank credit drives economics, not the…read more