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

Trade War/ Economy/ Taiwan/ Human Rights/ Virus

The Race To The Top? Beijing Chases The Wall Street Bubble

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

A month ago, we highlighted a long-term technical buy MACD signal on the monthly Wilshire 5000 chart. The buy signal was not evident in global or non-U.S. equities. As the month of November drew to a close, we can confirm that the rest of the world has caught up and similar MACD buy signals can be found in other markets. History shows that these displays of long-term price momentum have resolved themselves in strong multi-year gains, and the index has seen gains 6 and 12 months later 100% of the time.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/108/586/original/image_64342231921575149901005.png?1575149898" class="editor-image img-responsive" data-smartkarma-image-id="108586"></figure>This week, we review sector leadership, and where the best upside potential can be found in the markets.We find that the signs of a global cyclical recovery are firmly in place. Both U.S. and non-U.S. equity indices have flashed long-term buy signals that have proven to be remarkably effective in the past. We would favour exposure to mid-cycle sectors, such as industrials, financials, semiconductors (within technology), small-cap consumer discretionary and healthcare. Avoid late cycle sectors like energy and materials, avoid defensive sectors like consumer staples and utilities.Buy beta! Risk on!

A month ago, we highlighted a long-term technical buy MACD signal on the monthly Wilshire 5000 chart. The buy signal was not evident in global or non-U.S. equities. As the month of November drew to a close, we can confirm that the rest of the world has caught up and similar MACD buy signals can be found in other markets. History shows that these displays of long-term price momentum have resolved themselves in strong multi-year gains, and the index has seen gains 6 and 12 months later 100% of the time.This week, we review sector leadership, and where the best upside potential can be found in the markets.We find that the signs of a global cyclical recovery are firmly in place. Both U.S. and non-U.S. equity indices have flashed long-term buy signals that have proven to be remarkably effective in the past. We would favour exposure to mid-cycle sectors, such as industrials, financials, semiconductors (within technology), small-cap consumer discretionary and healthcare. Avoid late cycle sectors like energy and materials, avoid defensive sectors like consumer staples and utilities.Buy beta! Risk on!

Buy Signal Confirmed: It's A Global Bull