Newsletter

Trikaal Macros is a weekly newsletter on economy and markets, focusing on long-term market drivers and its future outlook. In the short run, a whole lot of factors can drive markets up or down, but in the long run, it is either the government policies, structural factors, or technological innovations, that will drive the economy and markets. Certain government policies impact may last for decades like India’s LPG of 1990s (liberalization, privatization, globalization), but mostly those are generic policies that boost the whole economy.

Within the broad economy, there are always certain sectors that outperform others. And in most of such cases, they are driven by technological innovations. So, understanding these tech developments are crucial to identify the top sectors for long-term investing. This newsletter aims to do that.

The EV Revolution – Part 1

EV sector is at the start of a secular growth phase, and it will be a key driver of global economy. Ever since the first industrial revolution in 18th century, there have been a number of major technical innovations that became the core driver of global economy for 30-60 years. (See details at – The […]

The EV Revolution – Part 1 Read More »

The Sixth Wave – What will drive markets for next 50 years?

Coined by economist Joseph Schumpeter in 1942, the theory of “creative destruction” suggests that business cycles operate under long waves of innovation. Specifically, as markets are disrupted, key clusters of industries have outsized effects on the economy. Take the railway industry, for example. At the turn of the 19th century, railways completely reshaped urban demographics

The Sixth Wave – What will drive markets for next 50 years? Read More »

Semiconductor Metrology – At the Core of Chip Market Explosive Growth

Semiconductors are at the heart of AI revolution, and demand is set to grow for years to come.   Manufacturing semis is complex and there are just a handful of companies making them. Small is beautiful here and manufacturers continuously strive to produce smaller semiconductors. The reason for this is the improved performance and reduced

Semiconductor Metrology – At the Core of Chip Market Explosive Growth Read More »

Green Hydrogen market to grow by 55.2% CAGR (2022 – 2028): Renewable Energy Part 2

The clean hydrogen energy market is growing amazingly fast, far faster than wind or solar ever did in the early years. It is a unique sector enjoying unprecedented political and business momentum. In just the past five years, more than 30 countries have developed national hydrogen strategies (IEA 2022). Almost every week a major new

Green Hydrogen market to grow by 55.2% CAGR (2022 – 2028): Renewable Energy Part 2 Read More »

Bullish or Bearish?

US unemployment lowest since 1969. But 3,55,000 were laid off in tech last year! Economic data can be confusing. Unemployment rate in U.S. is at its lowest level since 1969, but tech layoffs are at historical high after the 2001 dot-com bust! If companies are laying off then how can we have declining unemployment rate?

Bullish or Bearish? Read More »

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