5th Annual Letter: After a challenging year…
Exante Data is 5 years old today. It has been an incredible ride, and 2020 was frankly the most challenging year on record.
The team has worked entirely remotely since March, and I have been impressed with everybody’s ability to both work through the peak crisis at more than full speed, and at the same time staying focused for the long-haul.
We have worked VERY hard, writing no less than 200 analytical pieces on COVID since the virus started to drive markets all the way back to January, on top of the work we do more regularly around macro strategy.
Further, we have built more expertise in alternative macro data (in addition to capital flow data), and we have done more work bordering public policy discussion (such as AFR editorials, and our new Money Inside and Out substack, as well as an a much more active twitter presence)
We have been fortunate too. While 2020 was in many ways very rough, it has also been rewarding. 2020 was the year of the fastest growth so far for Exante Data, and we have been able to expand the team with key hires (Tor, Amelia, Chris), and we will be boosting the team further in early 2020 too (more on this separately). For the record, we should note that Brad Setser has left his role as a senior advisor to Exante, to take part in the Biden-Harris transition (see link).
We want to stay nimble and continue to innovate: in flow space, in the macro analysis that requires human judgement, and in new spaces too. Digital currency is reaching a degree of maturity where it is now relevant for major institutional investors, and for central banks. Hence, it is something we will cover in 2021 (and we actually released a public blog/substack on this yesterday, with a China angle).
I would like to say a personal thank you to the growing group of clients that continue to support us, and to the loyal Exante team members that make it possible.
There will be plenty of challenges ahead, but we feel strong (fortunately healthy!), and ready to meet them.