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

Has COVID-19 Damaged US Labour Supply and Potential GDP Growth? Big Implications for Fed Policy

US Growth Held Back by Supply Constraints, but US Treasury Investors Predict Slower Times Ahead

Sustained Upside Surprises to US Economic Growth? Big-Ticket Spending Recoveries Suggest Otherwise

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

Stagflation worries are rising. Both the recent analysis of search activity and the latest BoA Global Fund Manager Survey came to the same conclusion.We believe these fears are misplaced. The conventional mechanisms for stagflation are not present. Instead, investors should be prepared for a different sort of stagflation threat. The recent episodes of heat waves and floods, which have been attributable to climate change, have the potential to spark a series of unexpected rolling supply chain disruptions that keep inflation elevated and reduce productivity.ESG investing could be an important source of long-term portfolio stability should the rolling supply chain disruptions continue. However, investors who adopt this strategy may face the near-term risks of underperformance because the ESG factor has become a crowded trade.

Stagflation worries are rising. Both the recent analysis of search activity and the latest BoA Global Fund Manager Survey came to the same conclusion.We believe these fears are misplaced. The conventional mechanisms for stagflation are not present. Instead, investors should be prepared for a different sort of stagflation threat. The recent episodes of heat waves and floods, which have been attributable to climate change, have the potential to spark a series of unexpected rolling supply chain disruptions that keep inflation elevated and reduce productivity.ESG investing could be an important source of long-term portfolio stability should the rolling supply chain disruptions continue. However, investors who adopt this strategy may face the near-term risks of underperformance because the ESG factor has become a crowded trade.

Not Your Father's Stagflation Threat