MRP’s research process reflects founder Joe McAlinden’s 50 years of experience on Wall Street. The methodologies he developed as chief investment officer of Morgan Stanley Investment Management, where he oversaw more than $400 billion in assets, provide the foundation for the strategy research MRP now brings to hedge funds, pension funds, sovereign wealth funds and other asset managers around the globe.
Joe is joined by an experienced team of Wall Street professionals from diverse backgrounds to provide MRP’s clients with valuable insight outside of the mainstream.
Identifying disruptive change that leads to new investment opportunities.
MRP’s entire focus is on identifying change that will shift the equilibrium and create an investment opportunity. To do so, we take an inductive approach, which means keeping an open mind and letting the data, news and events unfolding speak to the shifts occurring across the globe.
Each day, we will send you our Daily Intelligence Briefing (“DIBs”) of news and macro data that rises to the top of what we believe is relevant to signaling change. When we are struck with a new thematic idea, we will map it out for you in the DIBs or in Joe Mac’s Market Viewpoint report.
You should look to us for the over-arching idea. We do not spend time on earnings models, as so many others already do so. Accordingly, we do not recommend individual securities. We believe that a significant component of alpha comes from getting the big picture right — such as sector, industry, and theme — and that’s what we aim to do.
The catalysts for our ideas come from any number of areas: Macroeconomic shifts and business cycle turns; policy and political changes; scientific and technological inventions; health and demographic transitions; business model innovations; or even environment and natural events. MRP’s research uses only publicly-available data, filtered through proprietary screens and analytical tools.
of a Theme
Joe Mac’s view is that a significant component of alpha is derived from getting the big picture right – sector, industry, and theme. This view has shaped MRP’s research, and is fundamental to our process.
MRP’s Rob Davis explains how we are able to provide a thematic investment idea based on daily current events, news and macro research. With most alpha being generated by getting “the big idea” correct, Rob explains why identifying the right theme is the most important part of the process.
How we deliver our research.
The DIBs Report
Daily Intelligence Briefing
The Daily Intelligence Briefing (DIBs) reports are deep dives into a subject undergoing transformational change that MRP is examining to determine if there is an opportunity to generate alpha. The subjects change daily and constitute an excellent update on the topics and sectors previously explored. We share this report with our clients who may already have or may be considering exposure in the industries affected.
Each Friday’s DIBs is a weekly wrap-up. The process employed was developed by Joe McAlinden over his 50 plus-year, Wall Street career. More about Joe here.
When opening the DIBs you’ll see an overview of the report’s five sections, with links that take you to the corresponding sections.
- Today’s Market Insight – The main topic of the day. Clicking on the title of the piece – in blue – will bring up the full report. Also included are a set of charts followed by summaries of our source material, including links to the original articles.
- Market Insight Updates – Includes information we came across in our process that updates previous Market Insights we are monitoring that have the potential to become actionable themes.
- Active Thematic Ideas – Refers to themes where stars have aligned, we believe there’s an opportunity not yet priced in, and where to focus security selection efforts. Included themes link to an archived report that record when and why it was added, and other reports written about that theme for tracking purposes. The THEME ALERT icon found in the Market Insight or Update sections, is indication of our selection as an actionable theme.
- Macroeconomic Indicators – Includes newly released data relevant to the themes we are following.
- Joe Mac’s Viewpoints – Monthly reports on topics that Joe considers timely to explore.
The way to best utilize the report is to glance at the Market Insight topic and those covered in the Updates section, to decide if there’s something that day to explore further. If so, dig in. If not, we missed you that day. Over the course of a month you’re likely to find quite a few.
Clients subscribe as an efficient way to stay current on these kinds of subjects, and also follow Joe’s thoughts on the markets, MRP Themes and other insights.
Meet the Team
And learn how to get in touch with the firm.
Joe began his career on the floor of the New York Stock Exchange, received a B.A. cum laude in Economics from Rutgers University and holds the Chartered Financial Analyst (CFA) designation. He has served on the Boards of the Argus Research Group, the New York Society of Security Analysts (NYSSA), the Morgan Stanley Trust, the Convent of the Sacred Heart, and The American Ireland Fund.
Nelly earned her B.A. in Economics from Columbia University and is fluent in English, French and Spanish. Since joining Catalpa Capital in 2010, Nelly has worked closely with Joe and the team to make the firm’s research offering a highly differentiated and exceptional part of an investment professional’s tool kit.
Rob is a graduate of SUNY New Paltz. In 1998 he founded "Help For Children/Hedge Funds Care", the industry charity dedicated to saving children from the trauma of abuse. To date, more than $50 million has been donated to organizations focused on the prevention and treatment of child abuse. Rob continues to serve as Chairman Emeritus of Hedge Funds Care.
In addition to trading fixed income products, Joe was the proprietary equity trader for the Distressed/Special Situations Desk focusing on post-bankruptcy equities. Prior to Bear Stearns he worked on the Floor of the NYSE for Merrill Lynch Specialists Inc. and Walter N Frank & Co. Joe has studied at Vassar College and received a B.A. in Economics from Hartwick College.
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