Investment Research & Consulting
Research Services
We subscribe to the principles that insight tends to give rise to foresight, and that the best research is designed not just to detail the frameworks and assumptions of a thesis, but to help the readers think more clearly for themselves about a given set of issues.
Our research is designed to be practical to the investor who has a global perspective and must make asset allocation and currency decisions within their portfolios. Samples and further details of such Research offerings are provided below.
Consulting Services
We also operate in a consulting capacity to sophisticated & institutional investors to help expand their perspectives around issues, gain a clearer insight into macro dynamics, and to assist in forming practical views around markets for their portfolio management activities... our role is to be a bouncing board, an educator and a peer who also must grapple with the same issues in order to make clear portfolio decisions within a complex & evolving world.
The PCM team are available for consulting engagements, presentations & workshops. See here for the Oct-2019 Keynote presentation Daniel gave at Australia's most preeminent Gold Conference (including live Q&A with the audience at the end).
PCM also acts in an Executive Coaching & Training capacity to Company Board of Directors & Executive Staff on issues pertaining to economic, interest rate, currency and industry macro-analytics.
PCS Reports
Every 4-6 weeks on average, we publish The Portfolio Construction Strategist (known as our ‘PCS Reports’).
These PCS Reports are anywhere from 5 to 65 pages long and are designed principally for private investors with a global focus who must make asset allocation, investment and currency decisions within their portfolios.
Our PCS Reports are educational, practical and timely... seeking to better understand both the opportunities and risks pertaining to equity, bond, currency and commodity markets around the world.
Within the PCS Reports we do our best to tackle the hard issues and to focus our efforts on the things that are not well understood by most sophisticated participants – i.e. the ‘grey areas’ in their thinking.
Sample PCS Reports
To help you understand how we think and how we approach market analysis - we have made available sample copies of our flagship (premium subscription) Portfolio Construction Strategist (PCS) Reports:
PCS Report 034
Principles & Perspectives around QE and MMT.
PCS 034 - Public Release (PDF, 1.2MB)
PCS Report 041
A synopsis of under-appreciated aspects of Australia's Property & Banking story...
PCS 041 - Public Release (PDF, 6.2MB)
PCS Report 022
Our Tactical Framework & Analysis applied to US Treasuries (released to complement our June 2019 Quarterly Client Letter)
PCS 022 - Public Release (PDF, 7.0MB)
PCS Report 028
Our Tactical Framework & Analysis of the Major Currencies...
PCS 028 - Public Release (PDF, 14.7MB)
PCS Report 017
The Structural US Dollar backdrop...
PCS 017 - Public Release (PDF, 7.8MB)
Monthly Chart Packs
To complement the PCS Reports, we publish on a monthly basis to Chart Packs (that contain many of the tactical money flow & liquidity analysis tools as used in the PCS 028 sample Report provided above).
The markets covered in these two chart packs are shown here, however it should be noted that we also construct 'Bespoke' Chart Packs that we maintain monthly for clients that include other stocks (both indexes & individual stocks), bonds, commodities and currency pairs that are specifically tailored to client needs.
Research Services Packages & Pricing
We COMPLEMENT our client's own frameworks for navigating markets and understanding the world with insightful/data-driven/practical tools and perspectives on markets (hat they will not gain anywhere else)
We also maintain two absolute return Model Portfolios (for private clients only) that make transparent how our research translates into the practical construction of portfolios.
PCS Reports History
PCS Reports issued in recent years include:
Currencies & Capital Flows: Framework Update - PCS 058 (Feb-2021), 31 pages
China: General Update - PCS 057 (Jan-2021), 19 pages
The Next 10 Years: Asset Impairment & Sovereign Default Cycles - PCS 056 (Dec-2020), 66 pages
Market Timing Framework: Educational Update - PCS 055 (Nov-2020), 8 pages + detailed Training Videos
Commodities & Currencies: General Update - PCS 054 (Sep-2020), 31 pages
US Treasuries: Comprehensive Review - PCS 053 (Jul-2020), 49 pages
US Dollar: The View 'Beneath the Surface' - PCS 052 (Jun-2020), 32 pages
World & US Equities: Framework Update - PCS 051 (May-2020), 38 pages
Precious Metals: Underlying Conditions Review - PCS 050 (Apr-2020), 37 pages
Global Banks: General Update - PCS 049 (Apr-2020), 8 pages
Global Thresholds: A Regime Shift 'Part TWO' - PCS 048 (Apr-2020), 18 pages
Global Capital Markets: 'Overview' of Structural Issues - PCS 047 (Feb-2020), 15 pages
China & Commodities: Update - PCS 046 (Feb-2020), 26 pages
US Equities: A review of the Tactical prospects for Equities - PCS 045 (Nov-2019), 27 pages
US Yield Curve: A General Review of our leading indicators for the US Yield Curve - PCS 044 (Nov-2019), 9 pages
Liquidity 101: A General Overview of Liquidity & Our Framework - PCS 043 (Oct-2019), 21 pages
Global Conditions: General Tactical Update - PCS 042 (Sep-2019), 7 pages
Australian Property & Banking Review (underappreciated conditions, drivers and prospects) - PCS 041 (Aug-2019), 27 pages
SAMPLE download: PCS 041 - Public Release (PDF, 6.2MB)
A Global Regime Shift: A Threshold Break - PCS 040 (Aug-2019), 13 pages
Precious Metals underlying conditions review - PCS 039 (Jun-2019), 32 pages
US Treasury Bonds comprehensive analysis - PCS 038 (Jun-2019), 50 pages
Deciphering what is really happening in China - PCS 037 (Jun-2019) 24 pages -
Tactical Equities framework - PCS 036 (May-2019) 25 pages
System Thresholds in the Global Financial System - Capital Flow Regimes - PCS 035 (May-2019) 11 pages
Understanding QE, MMT and other likely Activist Policies & their effects - Principles & Perspectives - PCS 034 (Mar-2019) 12 pages
Precious Metals comprehensive analysis - PCS 033 (Feb-2019) 23 pages
Tactical Equities framework - PCS 032 (Jan-2019) 19 pages
World & US Equities comprehensive analysis - PCS 031 (Dec-2018) 28 pages
Global Financial Conditions Review: Leading Indicators. (OTC Derivatives, Credit Cycles, Volatility, Liquidity, Real Yields & the US Yield Curve.)
PCS 030 (Dec-2018), 23 pages
A look at what Capital Flows & Currency markets are portending for the European Union. - PCS 029 (Oct-2018), 14 pages
Our Tactical Framework & analysis of the Major Currencies... - PCS 028 (Sep-2018), 36 pages
SAMPLE download: PCS 028 - Public Release (PDF, 14.7MB)
Part THREE in our 'First Principles' educational series, explaining the key drivers of Inflation, Nominal Yields, Real Yields & the US Dollar - PCS 027 (Aug-2018), 61 pages
US Treasury Bonds comprehensive analysis -PCS 026 (Jul-2018), 37 pages
Precious Metals comprehensive analysis - PCS 025 (May-2018) 21 pages
Updated analysis of the Global Banking system & OTC Derivatives - PCS 024 (May-2018) 22 pages
Updated analysis of Global Equities - PCS 023 (Mar-2018) 10 pages
US Treasury Bonds comprehensive analysis - PCS 022 (Feb-2018) 24 pages
SAMPLE download: PCS 022 - Public Release (PDF, 7.0MB)
Crude Oil comprehensive analysis - PCS 021 (Jan-2018) 36 pages
US Equities comprehensive analysis - PCS 020 (Dec-2017) 22 pages
Understanding the issues building within the Global Banking System - PCS 019 (Dec-2017) 33 pages
Identifying 'Cascade Points' within markets (understanding market participants and their market-based 'pain' thresholds) - PCS 018 (Oct-2017) 10 pages
The Structural US Dollar backdrop... - PCS 017 (Sep-2017) 26 pages
SAMPLE download: PCS 017 - Public Release (PDF, 7.8MB)
A brief overview of the UK and its key macro markets - PCS 016 (Jul-2017) 8 pages
Crude Oil comprehensive analysis (with subsection on the Uranium industry) - PCS 015 (Jul-2017) 40 pages
Analysing & anticipating Global Asset Impairment & Sovereign Default Cycles - PCS 014 (Jun-2017) 13 pages
Tactical update on US Equities - PCS 013 (May-2017) 5 pages
Part TWO in our 'First Principles' educational series, explaining Capital Flows, Excess Liquidity, Macro Drivers of Equities & Commodities - PCS 012 (May-2017) 62 pages
Part ONE in our 'First Principles' educational series, explaining Economics, Money, Banking/OTC Derivatives/Eurodollar system - PCS 011 (Mar-2017) 38 pages