Louis-Vincent Gave
Founding Partner & Chief Executive Officer
After receiving his bachelor's degree from Duke University and studying Mandarin at Nanjing University, Louis joined the French Army where he served as a second lieutenant in a mountain infantry battalion. After a couple of years, Louis left the army and joined Paribas where he worked as a financial analyst first in Paris, then in Hong Kong.
Louis left Paribas in 1999 to launch Gavekal Research with Charles Gave and Anatole Kaletsky in London. In 2002, Louis left the London office and returned to Hong Kong; the idea at the time was that Asia was set to become an ever more important factor in global growth and that, consequently, Gavekal needed to offer its clients more information, and more ideas, relating to Asia. Since then, Louis has been living in Hong Kong from where he oversees Gavekal’s money management business. Nonetheless, Louis contributes episodically to the research.
In the past decade, Louis has written five books, including his latest Too Different For Comfort, published in October 2013. Louis speaks English and French. He spent many hours studying Mandarin and once spoke it decently. He is married with four children.
For Louis's article archive please click here.
The Daily
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Gavekal Research
April 23, 2018
Emerging Markets And Energy
We all know, don’t we, what defining characteristics the emerging markets have in common? Of course we do. Emerging markets are developing countries on course to become advanced economies, typically with the assistance of powerful demographic tailwinds.
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Gavekal Research
April 17, 2018
Learning To Love The Loonie
There are plenty of reasons to dislike the Canadian dollar: disappointing economic data, a frothy real estate market, over-exposed banks, the fact that the Canadian team failed to get either the men’s or the women’s ice hockey gold at the winter Olympics, and a prime minister who dresses up like the Thompson twins when he travels to foreign countri
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Gavekal Research
April 3, 2018
Following Yesterday’s Pullback
Two weeks ago I looked back at Enron’s collapse in 2001 and asked whether a crash-and-burn at Tesla or Uber would be this cycle’s catalyst for a fundamental re-assessment of business models.
Ideas
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Gavekal Research
March 19, 2018
The Ogre Eating His Own Children
Our regular Loser Reports are based on the premise that good money management can be as much about “avoiding losers” as “picking winners”. This month, Louis looks at the (worrying) direction of US fiscal policy and wonders whether the next shoe to drop could be defense contractors and energy producers in the US, and even municipal bonds.
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Gavekal Research
February 26, 2018
What Lies Beneath
As liquidity in the global financial markets tightens, Louis turns to Gavekal’s longstanding dynamite fishing analogy in a speculative exercise that attempts to identify some of the “whales” that might just go belly up in the squeeze.
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Gavekal Research
February 23, 2018
The Most Important Chart Today
In a development uncomfortably reminiscent of the breakdown of the 1987 Louvre Accord, recent US dollar weakness has propelled a marked outperformance of Chinese government bonds in US dollar terms relative to treasuries.
Multimedia
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Gavekal Research
January 17, 2018
Audio & Transcript — Gavekal Research Call January 2018
In Gavekal’s monthly research call yesterday, Louis Gave reviewed evidence that the investment environment is experiencing a once-in-a-generation shift from a deflationary environment to one that is broadly inflationary. Anatole Kaletsky argued that this metamorphosis will likely be an orderly affair.
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Gavekal Research
October 18, 2017
Video: Which Messenger To Believe?
After Louis wrote up today’s Daily on the strange dichotomy between strong growth and moribund yields, we sat down to quiz him further on how this contradiction gets resolved. In this short video, he explains why the bond market is the thing that will probably have to give.
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Gavekal Research
September 8, 2017
Audio & Transcript — Gavekal Research September Call
In yesterday’s monthly call Louis Gave presented his view on the global investment outlook for the rest of the year. He argued that the key story so far in 2017 has been the strong performance of Asian equities, which has added a second leg to a bull market led by US technology and consumer stocks. The question is whether this can last.