Gavekal Research

Charles has been researching tactical asset allocation for over 40 years. In 1974 he founded independent research firm Cecogest, and in 1981 he co-founded Cursitor-Eaton Asset Management. As chief investment officer at Cursitor he managed US$10bn under a global asset allocation mandate. The firm was sold to Alliance Capital in 1995 and Charles stayed at Alliance until 1999, when he co-founded Gavekal. Charles is married and has four children and eight grandchildren.

After stints in the French army and at Paribas, Louis launched Gavekal in London in 1999 with his father Charles and Anatole Kaletsky. In 2002, recognizing that China would become a bigger factor in global growth, he moved the firm's headquarters to Hong Kong. In addition to overseeing Gavekal's money management business and contributing to our research, he is the author of seven books. The latest, Avoiding the Punch: Investing in Uncertain Times, was published in August 2021.

Anatole is co-founder, chairman and chief economist of Gavekal. Before founding Gavekal he worked for 30 years as an economic journalist and commentator at the Financial Times, The Economist, and the London Times. He is also chairman of the Institute for New Economic Thinking, a foundation created to reform academic economics after the 2008 global financial crisis. His book Capitalism 4.0, on the post-crisis transformation of the global economy, was nominated for the 2011 Samuel Johnson Prize.

Nick has spent the last 12 years involved in either trading, analyzing or writing about European markets and the global economy. At Morgan Stanley for 7 years he divided his time between the interest rate swap and repo markets before returning to university to complete a masters in economics. During that time he also wrote for the Wall Street Journal covering fixed income markets. After graduating in 2011 from London's Birkbeck College, he worked for David Roche's investment consultancy, Independent Strategy, before joining Gavekal in 2013. Nick also has a degree in engineering from Edinburgh University.

Will earned a degree in business and economics at the University of Oklahoma, supplemented by extracurricular education from the Mises Institute. He worked temporarily with our research team in 2005. We decided it was a good fit, so in 2007 he moved to Hong Kong to join our team. Will is now our lead analyst on the US economy, and has a particular interest in central bank policy. Beyond that, Will answers client questions and generally assists in the development and distribution of our research products, including Gavekal Data. Will speaks English (but he does occasionally use "y'all" in conversation).

After graduating with a degree in social sciences from the University of Paris Dauphine, Cedric studied economics at the Goethe University in Frankfurt. Cedric returned to Paris Dauphine, where he obtained an MSc in international economics. After interning at OECD, Cedric joined Gavekal Research in 2014 as an analyst focusing on emerging European economies and financial markets. He speaks French, English and German, and drinks both French wines and German beers.

After graduating with a first class degree in Quantitative Finance from The Hong Kong University of Science and Technology, Kai Xian joined Gavekal as a Statistician, responsible for creating and maintaining databases, developing models and indicators. Kai Xian, as he’s universally known around the office, also assists valiantly in our coverage of the US economy. He first worked with Gavekal in 2012 and officially joined the research team in 2013. Born and raised in Malaysia, Kai Xian is fluent in English, Mandarin, Cantonese and Malay.

Yanmei Xie was previously a senior analyst at the International Crisis Group, where she analyzed geopolitical flashpoints in the Asia Pacific region and China’s influence in Africa. She has given talks at the European Council, Chatham House, and the Council on Foreign Relations, and has been published in the The Wall Street Journal, Foreign Policy, CNN and FT Chinese. Yanmei also previously worked as a journalist in Washington, covering US national politics and policy. She was educated at the Chinese Foreign Affairs University, and has a master’s degree in mass communications from Miami University and a master’s in finance from George Washington University.

After serving in the Swedish army, Pierre began his financial career in 1998 as an analyst at a venture capital firm in Stockholm. Joining Gavekal in 2001, he was responsible for building and maintaining the firm's financial models, and for running the daily research operations until 2011. He now oversees research sales and client management. He is proficient in Swedish, English, French, Danish and German. He is married with two daughters.

Simon is a financial journalist turned economic researcher. His particular interest is emerging- and frontier- markets which has been the focus of his work at hedge funds based in London and Hong Kong. He has worked as a reporter, columnist and editor for Media outlets that include Bloomberg and the South China Morning Post. At Gavekal, he oversees our Hong Kong-based research team and writes occasionally across a range of topics. He holds an honors degree in economics from Manchester Metropolitan University and is married with a young son.

Udith Sikand joined Gavekal in 2013 as an analyst covering macro-economic and market developments in India and the major Southeast Asian economies. Previously, he worked with investment bank Keefe, Bruyette & Woods as an equity research associate covering Indian and South Korean banks. Prior to KBW, he worked as a research analyst with CreditSights covering Asian sovereigns and credit strategy. Udith holds an undergraduate degree in economics from SRCC, University of Delhi and a Masters degree in International Political Economy from the University of Warwick.

Tom joined Gavekal in 2014 from the South China Morning Post, where he wrote the newspaper’s flagship daily Monitor column covering business, finance and economics in Hong Kong, China and the wider world. Before joining the SCMP in 2005, Tom racked up 13 years’ experience as a business journalist working mainly in Europe and Asia for, among others, the Far Eastern Economic Review, the Wall Street Journal, and CNBC. He originally began his career as an exploration geologist, but when commodity prices collapsed the last time around, he was forced into journalism as the traditional refuge of the otherwise unemployable. 123