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

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

If you thought that Biden would govern as a centrist, you were wrong. In the wake of the passage of a $1.9-trillion stimulus package, President Biden is planning to attack the enduring challenge of inequality by expanding government spending with a second ambitious $3-trillion economic renewal plan and a re-vamp of the tax code. It is intended to be a repudiation of the Reagan Revolution and the neoliberal consensus that has dominated economic thinking for decades.What does this mean for investors?While we don’t know the full details of Biden’s American Rescue Plan, its short-term effects are likely to be reflationary, which is equity bullish, while its long-term effects have a possibility of being inflationary, which is equity unfriendly. Much depends on the inflation outlook, which is uncertain at this time. This is not the time to worry just yet. We believe equity investors should adopt a positioning attitude of “party now, and (maybe) pay later”.

If you thought that Biden would govern as a centrist, you were wrong. In the wake of the passage of a $1.9-trillion stimulus package, President Biden is planning to attack the enduring challenge of inequality by expanding government spending with a second ambitious $3-trillion economic renewal plan and a re-vamp of the tax code. It is intended to be a repudiation of the Reagan Revolution and the neoliberal consensus that has dominated economic thinking for decades.What does this mean for investors?While we don’t know the full details of Biden’s American Rescue Plan, its short-term effects are likely to be reflationary, which is equity bullish, while its long-term effects have a possibility of being inflationary, which is equity unfriendly. Much depends on the inflation outlook, which is uncertain at this time. This is not the time to worry just yet. We believe equity investors should adopt a positioning attitude of “party now, and (maybe) pay later”.

Biden's American Rescue Plan: Equity Bullish or Bearish?