Following Great Public Companies, Watchlist Investing

Watchlist Investing

Following Great Public Companies

Exploring timeless investing concepts in the search for great businesses.

Equity Bottom-Up

<ul>
<li>The Standard and Poor’s website provides some interesting raw data on the index, open for anyone to see</li>
<li>The price/earnings ratio continues a multi-year climb. Excluding the pandemic year of 2020, at 22.7x trailing twelve-month earnings, it is the highest ratio in the periods under analysis</li>
<li>The balance sheet of the S&amp;P 500 as a whole continues to deteriorate</li>
</ul>


The Standard and Poor’s website provides some interesting raw data on the index, open for anyone to see
The price/earnings ratio continues a multi-year climb. Excluding the pandemic year of 2020, at 22.7x trailing twelve-month earnings, it is the highest ratio in the periods under analysis
The balance sheet of the S&amp;P 500 as a whole continues to deteriorate


Storm Clouds On The Horizon; Analyzing The S&P 500

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

Cross Asset Strategy

<ul>
<li>What will happen to earnings and earnings expectations in the wake of the hot January CPI report that spooked the market? </li>
<li>Fed Funds futures are now discounting a half-point lift-off at the March FOMC meeting. Will the Fed acquiesce or push back against those expectations? </li>
<li>If stock prices were to weaken further, how will insiders react?</li>
</ul>


What will happen to earnings and earnings expectations in the wake of the hot January CPI report that spooked the market? 
Fed Funds futures are now discounting a half-point lift-off at the March FOMC meeting. Will the Fed acquiesce or push back against those expectations? 
If stock prices were to weaken further, how will insiders react?


Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

<ul>
<li>Another Troubled Bank Deal In Asia Adds Another Managerial Distraction;   </li>
<li>DBS Agreed to Acquire Citigroup’s Taiwan Consumer Franchise for SGD 2.9 bn After Three Taiwan Banks Couldn’t Make This Deal Work; and </li>
<li>In Addition, DBS’ Fundamentals Continue to Weaken, With Lower Fees, Compressed Margins, and Modestly Weaker Credit. </li>
</ul>


Another Troubled Bank Deal In Asia Adds Another Managerial Distraction;   
DBS Agreed to Acquire Citigroup’s Taiwan Consumer Franchise for SGD 2.9 bn After Three Taiwan Banks Couldn’t Make This Deal Work; and 
In Addition, DBS’ Fundamentals Continue to Weaken, With Lower Fees, Compressed Margins, and Modestly Weaker Credit. 


DBS Group Holdings – And Baby Makes Three

<ul>
<li>We wrote a week ago that investment-oriented accounts should turn cautious on the stock market, but traders shouldn’t be ready to turn bearish just yet.</li>
<li>The sell signal has arrived and the tone of the stock market is turning decidedly bearish.</li>
<li>Technical internals are deteriorating and our base-case scenario calls for a 5–10% pullback. A downdraft of 20% represents an outlier case but would need a major catalyst.</li>
</ul>


We wrote a week ago that investment-oriented accounts should turn cautious on the stock market, but traders shouldn’t be ready to turn bearish just yet.
The sell signal has arrived and the tone of the stock market is turning decidedly bearish.
Technical internals are deteriorating and our base-case scenario calls for a 5–10% pullback. A downdraft of 20% represents an outlier case but would need a major catalyst.


<ul>
<li>Weaker Result Across Almost All Geographic Segments - Led By Negative Jaws;    </li>
<li>Credit Modestly Weaker, Although Reserve Coverage Remains Strong. Watch For Credit Turn; and </li>
<li>Progress On Asian Consumer Exits, But Sea Change In View On Mexico.   </li>
</ul>


Weaker Result Across Almost All Geographic Segments - Led By Negative Jaws;    
Credit Modestly Weaker, Although Reserve Coverage Remains Strong. Watch For Credit Turn; and 
Progress On Asian Consumer Exits, But Sea Change In View On Mexico.   


Citigroup – Many Moving Parts and Confused Mexican Exit

United States

SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF is structured as a Unit Investment Trust and pays dividends on a quarterly basis. The holdings are weighted by market capitalization.

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SPDR S&P 500 (SPY US)

Storm Clouds On The Horizon; Analyzing The S&P 500

The Standard and Poor’s website provides some interesting raw data on the index, open for anyone to see The price/earnings ratio continues a...

Watchlist Investing

Three Questions to Ask As Fear Spikes

The S&P 500 is undergoing another test of its 200-dma support and some open questions remain. So far, the preliminary answers appear to be...

Cam Hui

DBS Group Holdings – And Baby Makes Three

DBS: Another troubled bank deal adds another managerial distraction, as DBS has agreed to acquire Citigroup’s Taiwan consumer franchise. Further,...

Thomas J. Monaco

Time to Turn Defensive

The sell signal has arrived and the tone of the stock market is turning decidedly bearish. Our base-case scenario calls for a 5–10% pullback in the...

Cam Hui

Citigroup – Many Moving Parts and Confused Mexican Exit

CITI: Weaker results across almost all geographic segments. Credit is modesty weaker but coverage is strong. Progress on Asian consumer exits, but...

Thomas J. Monaco

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