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Crescat Delivers Strong 2018 Performance – 2019 Outlook


September 20, 2018 should mark the closing high for the S&P 500 to end the second longest bull market in US history. It should also mark the top of the “everything bubble”, a term… Read the letter»

2 of World’s Top Funds in 2018 per Bloomberg


“As the dust settles on a troubled year for hedge funds, some managers escaped the wreckage and even thrived.” Read More»

CIO Kevin Smith Interviewed on Bloomberg TV


Crescat’s Chief Investment Officer Kevin Smith discusses global economy and Canadian housing bubble. Watch the Video»


ABOUT CRESCAT

Crescat is a global macro asset management firm. We develop tactical investment themes based on proprietary value-driven models. Our mission is to grow and protect wealth by capitalizing on the most compelling macro themes of our time. We aim for high absolute and risk-adjusted returns over the long term with low correlation to benchmarks.

Crescat’s firmwide global macro investment process applies to three Crescat strategies:

Crescat Global Macro: Crescat’s flagship cross-asset hedge fund strives to capitalize on macro themes globally across all major liquid asset classes including large- and mid-cap equities, commodities, currencies, and fixed income.

Crescat Long/Short: Crescat’s long/short equity hedge fund strives to capitalize on macro themes globally across liquid large- and mid-cap equities.

Crescat Large Cap: Crescat’s separately managed account (SMA) strategy strives to capitalize on macro themes globally through an actively managed, long-only equity portfolio of large cap equities. The strategy can also hold cash and precious metals.

We invite you to peruse our website for more information about our investment process, performance, investment outlook, and how to become a client.

Important Disclosures


The correlation between emerging markets vs. earnings estimates just turned negative for the first time since 2007!

However, this time is exactly the opposite.

EM earnings estimates are now moving lower while stock prices are moving higher.

Via @Bloomberg

$CNY is the only currency in the world that appreciated since the Global Financial Crisis while its current account shrank massively.

It's a structural change that adds further pressure to its highly indebted growth model.

China’s monetary pegged regime is unlikely persist.

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