Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.

Cross-Asset Strategist & Quantitative Analyst

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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

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

The market is undergoing a Great Rotation from growth to value. Here are some important implications for investor portfolios in the next market cycle.From a securities selection perspective, investors should:<ul>
<li>Avoid the high-flying growth bubbly growth stocks.</li>
<li>Focus on the value parts of the market.</li>
<li>Focus on the parts of the market exhibiting better earnings growth, such as mid and small caps.</li>
<li>Focus on non-U.S. markets, which are trading lower forward P/E ratios than the U.S. With Big Tech comprising nearly half of the weight of the S&amp;P 500, the U.S. P/E premium to the rest of the world is becoming overly stretched and due for some mean reversion.</li>
</ul>From a portfolio constructive perspective, investors should be prepared for rising stock-bond correlations. While stock and bond holdings will still be diversifying, balanced portfolios are expected to experience higher overall volatility, and volatility targeting strategies such as risk-parity will be less effective in achieving their objectives.

The market is undergoing a Great Rotation from growth to value. Here are some important implications for investor portfolios in the next market cycle.From a securities selection perspective, investors should:
Avoid the high-flying growth bubbly growth stocks.
Focus on the value parts of the market.
Focus on the parts of the market exhibiting better earnings growth, such as mid and small caps.
Focus on non-U.S. markets, which are trading lower forward P/E ratios than the U.S. With Big Tech comprising nearly half of the weight of the S&amp;P 500, the U.S. P/E premium to the rest of the world is becoming overly stretched and due for some mean reversion.
From a portfolio constructive perspective, investors should be prepared for rising stock-bond correlations. While stock and bond holdings will still be diversifying, balanced portfolios are expected to experience higher overall volatility, and volatility targeting strategies such as risk-parity will be less effective in achieving their objectives.

Are You Prepared For the Post Great Rotation Era?