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Cam Hui, CFA  

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  • 'Did You Expect GOOG To Trade At A PE Of 10?' And Other 'Smart Beta' And Factor Investing Questions [View article]
    Thank you for the edit.
    Apr 23, 2014. 09:08 AM | Likes Like |Link to Comment
  • New All-Time Highs = Secular Bull Market? [View article]
    I agree with you about the A/D line, etc., but your time horizon is too short for the secular bull vs. bear discussion. The secular bull/bear question has to do with the expected return of stocks over the next decade, which is not something that you can determine with indicators like A/D line, earnings estimates and so on.
    Mar 10, 2014. 05:50 PM | 1 Like Like |Link to Comment
  • New All-Time Highs = Secular Bull Market? [View article]
    Here is an older chart of market cap to GDP that goes back to 1925. Average was 59.24%
    Mar 10, 2014. 05:48 PM | Likes Like |Link to Comment
  • How 2014 Could Be Like 1929 [View article]
    See start date for y-axis. October 2007 = 100.
    Feb 17, 2014. 09:31 PM | Likes Like |Link to Comment
  • Is The Correction Over? [View article]
    Author’s reply » In a previous post (see I pointed out that Thomson-Reuters took apart the components of earnings growth by quarter. Estimated Q4 EPS growth has a very low component from sales growth so a very low sales growth is not a surprises.
    Note how expected sales growth rises in Q1, Q2, etc.
    Feb 9, 2014. 08:09 PM | 1 Like Like |Link to Comment
  • Are Stocks Tumbling Too Far Too Fast? [View article]
    He seems to have taken down the post. Not sure why. Try following the link from Abnormal Returns:
    Jan 26, 2014. 10:30 PM | Likes Like |Link to Comment
  • Are Stocks Tumbling Too Far Too Fast? [View article]
    Also see Bill Luby's excellent post on the short-term profitability of fading VIX spikes:
    Jan 26, 2014. 12:46 PM | 2 Likes Like |Link to Comment
  • What Are The Bearish Triggers? [View article]
    Just follow the link for New Deal Democrat in the article.
    Jan 22, 2014. 08:33 AM | Likes Like |Link to Comment
  • A Time For Caution [View article]
    It sounds like a sensible approach, but I haven't seen the backtest results to comment whether that represents a good rule or not.

    I would focus more on forward 12 month earnings estimates, because if you focus on any single forward FY, EPS estimates have a tendency to drop while forward 12 month normalizes expectations.
    Oct 25, 2013. 12:52 PM | 1 Like Like |Link to Comment
  • Why A Gold Standard Is A Bad Idea (Government Interfering In Free Market Edition) [View article]
    Any fixed exchange rate regime, yes that includes CNY, presents the same problem. We have seen the same thing happen in Europe with the euro - national governments can't print so the adjustment process is very painful.
    Oct 7, 2013. 09:06 AM | 1 Like Like |Link to Comment
  • My Lehman Lesson: Model Diversification And Flexibility [View article]
    Rosenberg made the stagflation comment recently on August 1, 2013.
    Sep 17, 2013. 09:19 AM | Likes Like |Link to Comment
  • Who Pays For China's Excesses? [View article]
    I never said that the government's preemptive actions would fail. I just pointed out that it will be challenging to navigate the road ahead without an accident, given the constraints that they operate under.
    Aug 12, 2013. 02:01 PM | Likes Like |Link to Comment
  • What A Regime Shift Looks Like [View article]
    Sorry folks. It seems that SA cut off some of my post. Here is a link to the full article:
    Jul 18, 2013. 05:06 PM | Likes Like |Link to Comment
  • Why It's Important If The Secular Bull Market In Vancouver Real Estate Is Over [View article]
    For Mainlanders who have sufficient funds, there are ways of getting money out of the country. For example, if you have a business, just incorporate an offshore entity that your Mainland business sells and keep the profits offshore. Apple does it, why can't the Chinese?
    Mar 19, 2013. 10:59 AM | Likes Like |Link to Comment
  • More Signs Of Global Healing [View article]
    I don't have any strong opinions one way or another on industrial metal demand from China.
    Mar 15, 2013. 10:28 AM | Likes Like |Link to Comment