Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>Gold is now considered the most crowded trade. Should we be worried?</li>
<li>Who is going to buy US government bonds going forward?</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
Gold is now considered the most crowded trade. Should we be worried?
Who is going to buy US government bonds going forward?


<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>The new Trump Administration’s “plan” for China is becoming clearer</li>
<li>What’s next for markets after the tumultuous events of the last week</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
The new Trump Administration’s “plan” for China is becoming clearer
What’s next for markets after the tumultuous events of the last week


Overview #22 – The Lunatics Have Taken over the Asylum

Thematic (Sector/Industry)

<ul>
<li>Asymmetric return opportunity in a short position in Japan - downside vs upside potential is skewed to the downside.</li>
<li>The weak JPY hasn’t helped the overall market and rising risk of a reversal similar to August 2024</li>
<li>We look at some sectors and stocks that are good short candidates</li>
</ul>


Asymmetric return opportunity in a short position in Japan - downside vs upside potential is skewed to the downside.
The weak JPY hasn’t helped the overall market and rising risk of a reversal similar to August 2024
We look at some sectors and stocks that are good short candidates


Tactical Trading - Time to Sell Japan. Again.

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

<ul>
<li>Gold has staged a relative breakout against the S&amp;P 500 and 60/40 portfolio is a signal of financial stress ahead and an era of hard asset outperformance against paper assets.</li>
<li>While we are long-term bulls on gold, it is highly extended and investors seeking to deploy cash into this investment theme should consider the energy sector as an alternative.</li>
<li>Our base-case scenario calls for a tactical recovery in stock prices into April. What happens next will depend on the evolution of economic data.</li>
</ul>


Gold has staged a relative breakout against the S&amp;P 500 and 60/40 portfolio is a signal of financial stress ahead and an era of hard asset outperformance against paper assets.
While we are long-term bulls on gold, it is highly extended and investors seeking to deploy cash into this investment theme should consider the energy sector as an alternative.
Our base-case scenario calls for a tactical recovery in stock prices into April. What happens next will depend on the evolution of economic data.


The Message From Gold's Generational Breakout

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>Indian market has discounted some of the issues the country faces </li>
<li>The best performing assets in Q1 2025 continue to be our favourites</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
Indian market has discounted some of the issues the country faces 
The best performing assets in Q1 2025 continue to be our favourites


Overview #21 India, Gold and the Slow Death of AI

United States

SPDR Gold Shares is an investment fund incorporated in the USA.  The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust's expenses. The Trust holds gold and is expected from time to time to issue Baskets in exchange for deposits of gold and to distribute gold in connection with redemptions of Baskets.

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SPDR Gold Shares (GLD US)

Overview #23 Gold, Bonds and the USD

A review of recent events/data impacting our investment themes and outlook. We look at recent investor sentiment towards gold, the USD, bonds and...

Rikki Malik

Overview #22 – The Lunatics Have Taken over the Asylum

A review of recent events/data impacting our investment themes and outlook. What happens next for markets after the events of the last week

Rikki Malik

Tactical Trading - Time to Sell Japan. Again.

It's the perfect storm for the Japanese market. Tariffs, JPY, rising rates and inflation, with growth weakening. The 2,800 level on Topix has been...

Rikki Malik

The Message From Gold's Generational Breakout

Gold's breakout against S&P 500 signals financial stress ahead, consider energy sector as alternative investment. Tactical stock recovery expected...

Cam Hui

Overview #21 India, Gold and the Slow Death of AI

A review of recent events/data impacting our investment themes and outlook. Revisiting India, our top 2 allocations and the ongoing US bear market

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Overview #23 Gold, Bonds and the USD

A review of recent events/data impacting our investment themes and outlook. We look at recent investor sentiment towards gold, the USD, bonds and...

Rikki Malik

Overview #22 – The Lunatics Have Taken over the Asylum

A review of recent events/data impacting our investment themes and outlook. What happens next for markets after the events of the last week

Rikki Malik

Tactical Trading - Time to Sell Japan. Again.

It's the perfect storm for the Japanese market. Tariffs, JPY, rising rates and inflation, with growth weakening. The 2,800 level on Topix has been...

Rikki Malik

The Message From Gold's Generational Breakout

​Gold's breakout against S&P 500 signals financial stress ahead, consider energy sector as alternative investment. Tactical stock recovery expected...

Cam Hui

Overview #21 India, Gold and the Slow Death of AI

A review of recent events/data impacting our investment themes and outlook. Revisiting India, our top 2 allocations and the ongoing US bear market

Rikki Malik

Gold's breakout against S&P 500 signals financial stress ahead, consider energy sector as alternative investment. Tactical stock recovery expected...