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

<ul>
<li>Q2 earnings season was supposed to be a key test of how the Trump tariffs would affect corporate earnings and margins. So far, the preliminary verdict has been relatively benign.</li>
<li>We believe the consensus expectation of stagflation, below-average growth and higher-than-expected inflation is the correct scenario.</li>
<li>The full effects of tariffs on inflation and growth will start to be seen in Q3 2025 and continue into 2026.</li>
</ul>


Q2 earnings season was supposed to be a key test of how the Trump tariffs would affect corporate earnings and margins. So far, the preliminary verdict has been relatively benign.
We believe the consensus expectation of stagflation, below-average growth and higher-than-expected inflation is the correct scenario.
The full effects of tariffs on inflation and growth will start to be seen in Q3 2025 and continue into 2026.


Tariffs: Bark Worse Than Bite?