{"id":564492,"date":"2021-02-09T13:51:21","date_gmt":"2021-02-09T13:51:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/meet-arqaam-capitals-noaman-khalid\/"},"modified":"2021-02-09T13:51:21","modified_gmt":"2021-02-09T13:51:21","slug":"meet-arqaam-capitals-noaman-khalid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/meet-arqaam-capitals-noaman-khalid\/","title":{"rendered":"Meet Arqaam Capital\u2019s Noaman Khalid"},"content":{"rendered":"<p><strong>The EGX30 fell -0.65% at today\u2019s close<\/strong> on turnover of EGP 1.37 bn (3.5% above the 90-day average). Foreign investors were net sellers. The index is up 5.56% YTD.<\/p>\n<p><strong>In the green: <\/strong>Pioneers Holding (+2.0%), Eastern Company (+1.0%) and Telecom Egypt (+0.5%).<\/p>\n<p><strong>In the red: <\/strong>Alexandria Mineral Oils (-2.1%), Qalaa Holdings (-1.8%) and SODIC (-1.6%).<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>OUR ANALYST OF THE WEEK-<\/strong> Noaman Khalid, associate director of macroeconomics, indices, and strategy at Arqaam Capital (<a href=\"https:\/\/www.linkedin.com\/in\/noaman-khalid-40a41522\/?originalSubdomain=eg\">Linkedin<\/a>).<\/p>\n<p><strong>I\u2019m<\/strong><strong> Noaman Khalid and I\u2019m an associate director at Arqaam Capital.<\/strong> I joined last September as I wanted to be exposed to an entity operating outside of Egypt with more clients and coverage. I\u2019m specialized in the economics and commodities industries with a focus on Egypt and Kuwait.<\/p>\n<p><strong>Being a good analyst means having the ability to link events together. <\/strong>It\u2019s not just about being a good economist and understanding macro events, but having the skill to relate it back to how it will impact financial markets. You also have to be able to tailor the macro picture towards the index or market you\u2019re looking at.<\/p>\n<p><strong>The best part of my job is that it's full of action <\/strong>and you tend to see the results of your calls right away. It\u2019s fast paced but the excitement makes you want to take more calls and you get better the more you learn.<\/p>\n<p><strong>The worst part is that you always have to be connected, even during vacations. <\/strong>We don\u2019t have the luxury to take a few weeks off and disconnect from the news. If anything major happens when you\u2019re off, you\u2019ll have to open your laptop and get to work to ensure everyone is updated. Even when Egypt is on holiday, there\u2019s always a market operating somewhere that could have an impact locally.<\/p>\n<p><strong>I don\u2019t believe the roadshow will be dead post-covid<\/strong>, but we may be waiting until the end of this year or the start of 2022 before things normalize. Online meetings aren\u2019t an equal replacement to face-to-face interactions even if they are a bit more efficient. It\u2019s not human nature to only interact with a computer all day.<\/p>\n<p><strong>My theory of investing is to take a long-term call, but don\u2019t become rigid. <\/strong>If you take a fundamental call on a country or a stock and give it time, the reward is much more lucrative than if you had jumped from one stock to another or from country to country. But you still need to be a bit flexible on your long calls, because an event could occur that would change the entire story.<\/p>\n<p><strong>I\u2019m more of a words person than a numbers person.<\/strong> In my opinion numbers assist in formulating a view, but you need to explain things with words. When I talk to investors, I put my forecasts into story-form rather than figures and statistics. Something else I believe backs this up is that while numbers are available to everyone, every firm has its own outlooks and their qualitative analysis of what will happen on the ground is different.<\/p>\n<p><strong>2H2021 could be the turning point for Egypt. <\/strong>Arqaam\u2019s outlook is that Egypt and the UAE will be the most attractive countries in MENA this year, fueled by the vaccine rollout and its global efficiency. Egypt could see a recovery of consumption to pre-2016 levels as purchasing power increases and people begin to see the pandemic pass. This call will have a potential impact on everything from the stock market and consumer stocks to Egypt\u2019s GDP and growth.<\/p>\n<p><strong>The last great thing I watched was a movie called <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80202877\">The White Tiger<\/a><\/strong><strong> on Netflix.<\/strong> It shows another side of entrepreneurship that\u2019s not a fairytale success story. It gives you a sense that some entrepreneurs or small businesses are born out of the need to escape from poverty and injustice.<\/p>\n<p><strong>The last great thing I read is a Financial Times article titled \u201c<\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/bcebd77c-057b-4fd0-bd99-b97e0e559455\">Italian mafia bonds sold to global investors<\/a><\/strong><strong>\u201d.<\/strong> Seeing the mafia raising funds through official markets is both impressive and sad when taking into account all the \u2018zillion regulations\u2019 implemented in the EU on a financial level. It reconfirms that often creativity (even when bad intentioned) will continue to outpace regulators in some way or another.<\/p>\n<p><strong>When I\u2019m not at work, I spend time with my niece, Jamila (aka Jamjam)<\/strong> who\u2019s 3.5 years\u2019 old. Jamila is my favorite human being on earth. We do a lot of activities together such as walking our dog Rusty, going to the club, and cooking.<\/p>\n<p><strong>My calendar has become crucial: <\/strong>My secret to staying organized was to always finish tasks right away. However, between my job and my master\u2019s that\u2019s not always feasible and now I\u2019ve learned how to prioritize tasks and put clear deadlines for myself. When I was younger I used to look at people who were very organized and say \u201cthey\u2019re so stiff\u201d but now I realize that being unorganized really brings more stress to your days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 fell -0.65% at today\u2019s close on turnover of EGP 1.37 bn (3.5% above the 90-day average). Foreign investors were net sellers. The index is up 5.56% YTD. In the green: Pioneers Holding (+2.0%), Eastern Company (+1.0%) and Telecom Egypt (+0.5%). In the red: Alexandria Mineral Oils (-2.1%), Qalaa Holdings (-1.8%) and SODIC (-1.6%). [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":564493,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[676,1258,136,107,633,642,4149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-go-with-the-flow","tag-analyst-of-the-week","tag-arqaam-capital","tag-ci-capital","tag-covid-19","tag-enterprisepm","tag-go-with-the-flow","tag-noaman-khalid","wpautop","entry"],"acf":{"mongo_id":"3bce9876-fd23-4e90-95e7-e191af3f7276","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/424.jpg","photo_position":"above","related_issue":[564484],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Meet Arqaam Capital\u2019s Noaman Khalid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/meet-arqaam-capitals-noaman-khalid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet Arqaam Capital\u2019s Noaman Khalid\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell -0.65% at today\u2019s close on turnover of EGP 1.37 bn (3.5% above the 90-day average). Foreign investors were net sellers. The index is up 5.56% YTD. In the green: Pioneers Holding (+2.0%), Eastern Company (+1.0%) and Telecom Egypt (+0.5%). In the red: Alexandria Mineral Oils (-2.1%), Qalaa Holdings (-1.8%) and SODIC (-1.6%). 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Regional investors were net sellers. The index is up 6.45% YTD. In the green: Fawry (+4.2%), Pioneers Holding (+3.1%) and Sidi Kerir Petrochemicals (+2.4%). In the red: Cleopatra Hospital (-1.0%), CI Capital\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544504,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/","url_meta":{"origin":564492,"position":2},"title":"Last Night\u2019s Talk Shows: CBE could raise rates this month in response to Ukraine crisis -Arqaam","author":"enterpriseam admin","date":"7 March 2022","format":false,"excerpt":"Will the Central Bank of Egypt raise interest rates to combat higher prices fuelled by the Ukraine war? Noaman Khalid, associate director at Arqaam Capital, thinks so. A rise in interest rates in the CBE\u2019s upcoming monetary policy committee meeting later this month is \u201ca very big possibility,\u201d he said\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560753,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/good-news-for-economic-growth-in-the-second-quarter-of-fy2020-2021\/","url_meta":{"origin":564492,"position":3},"title":"Good news for economic growth in the second quarter of FY2020-2021","author":"enterpriseam admin","date":"11 March 2021","format":false,"excerpt":"Egypt\u2019s economy grew 2% in 2Q2020-2021, accelerating from 0.7% the previous quarter as the tourism sector contracted at a slower pace, Planning Minister Hala El Said said during cabinet's weekly meeting yesterday. Manufacturing and Suez Canal revenues \u2014 which had slumped thanks to the pandemic \u2014 also contracted more slowly\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/168.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547161,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/inflation-hits-13-5-in-may-but-slowed-on-an-m-o-m-basis\/","url_meta":{"origin":564492,"position":4},"title":"Inflation hits 13.5% in May but slowed on an m-o-m basis","author":"enterpriseam admin","date":"12 June 2022","format":false,"excerpt":"Inflation rose to a three-year high in May but came in lower than expected and even slowed down on a monthly basis. Annual urban inflation rose to 13.5% last month from 13.1% in Aprilas rising global commodity prices and the EGP devaluation pushed consumer prices upwards for a sixth consecutive\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549430,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/cbe-to-hike-rates-in-september-meeting-poll\/","url_meta":{"origin":564492,"position":5},"title":"CBE to hike rates in September meeting -POLL","author":"enterpriseam admin","date":"18 September 2022","format":false,"excerpt":"The Central Bank of Egypt is likely to raise interest rates when it meets on Thursday in a bid to tame inflation and support the local currency, according to our regular interest rate poll. Six of seven analysts and economists we surveyed see the Monetary Policy Committee hiking rates for\u2026","rel":"","context":"In &quot;POLL&quot;","block_context":{"text":"POLL","link":"https:\/\/enterpriseam.com\/egypt\/category\/poll\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/247.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564492"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564492\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564493"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564492"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564492"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}