Canaccord Genuity Group Inc. Corporate Magazine | Vol. 6 | August 2014 - page 5

corporate Magazine | vol. 6 August 2014 |
To us there are no foreign markets.
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Tony Dwyer
US Portfolio Strategist
Canaccord Genuity
The most difficult thing to do in a correction is to buy it, especially if it has yet
to show up in the large capitalization-driven indices such as the S&P 500. In
our view, the correction has been taking place under the surface, especially in
the smaller-cap Russell 2000 Index. There will clearly be more volatility and
corrections along the way, but we remain focused on the intermediate-term
opportunity rather than the near-term risk and would look to be more aggressive
tactical buyers of the Financial, Info Tech, Industrial and Health
Care sectors – especially on any further weakness – for a move to SPX 2,185.”
US Portfolio Strategy, July 22, 2014
Based in New York and known as the “Biggest Bull on Wall Street”, Tony Dwyer
gained notoriety for having the highest and most accurate target of all Wall
Street analysts for the 2013 annual performance of the S&P 500, and he
has maintained his bullish stance for the same index in 2014. Tony is a
regular guest commentator on CNBC’s
Fast Money
, Fox Business’s
Bell with Maria Bartiromo
Bloomberg Surveillance
with Tom Keene.
Tony joined Canaccord Genuity in March 2012 as the firm’s US Equity
Strategist after serving in the same role at Collins Stewart LLC. In addition
to serving as Equity Strategist at Collins Stewart, he also held the additional
role of Director of Research and sat on the firm’s Executive Committee.
Tony started his equity research career at Prudential-Bache Securities in
1987 and served as Equity Markets Strategist at a number of small regional
brokerage firms prior to joining FTN Equity Capital Markets in 2003. At FTN,
Tony served as an Equity Markets Strategist and was a member of the FTN
Midwest Securities Investment Committee (IC), where he was later appointed
to chair the IC in 2006.
Martin Roberge
North American Portfolio Strategist
& Quantitative Analyst
Canaccord Genuity
“We believe investors (and possibly central bankers) have
become too sanguine about the inflation backdrop. Some may
find comfort in US bonds which are not sending alarm bells yet.
However, this asset class is distorted by QE and the shortage
of federal debt. Also, US bonds take their cue from the collapse
in European bond yields which are trading off deflationary
expectations. We believe a shift in market sentiment with regard
to inflation is a primary risk factor to financial markets and
global growth. This is why we recommend investors own portfolio
protection in the form of gold and gold equities.
In all, we think that the best sector strategy at this point is to
stay focused on our theme of global growth and inflation
acceleration. This means staying put on resource cyclicals and
riding the volatility of the next few months. We believe any relative
performance points lost through a correction will be recouped
later this year and/or early next.”
The Quantitative Strategist, August 1, 2014
Working from our Montréal office, Martin Roberge has
served as Portfolio Strategist and Quantitative Analyst
at Canaccord Genuity since 2011. He is responsible for
providing tactical asset mix and sector rotation research and
recommendations to the firm’s retail and institutional clients.
Previously, he held similar roles at Dundee Securities and
National Bank Financial and acquired money-management
expertise as the lead portfolio manager of absolute return
funds at Natcan Investment Management and Crystalline
Management. Over the years, Martin has been highly ranked
as a portfolio strategist and quantitative analyst in Canada,
according to the Brendan Wood International survey.
Robert Jukes
Global Strategist
Canaccord Genuity Wealth
Management, UK and Europe
Based in London, Robert Jukes is a member
of the Asset Allocation Committee for
Canaccord Genuity Wealth Management in
the UK and Europe, with a specialization in
top-down macroeconomic ideas and multi-
asset risk based quantitative strategies.
Following a move to the firm’s wealth
management division from Institutional
Equities in 2008, Robert led the creation
of Canaccord Genuity’s Risk-Enhanced
Multi-Asset Portfolios. This award-winning
framework, which produces a range of
portfolios across the risk spectrum, is based
on a proprietary risk model designed to
deal with market turbulence by introducing
a sensible – and intelligible – amount of
mathematics back into the investment
process. The framework appropriately
accounts for portfolio risk, even during periods
of market stress, thereby significantly reducing
drawdown. This approach not only addresses
the major shortcomings of traditional risk
management processes but also places the
strict observation of client risk tolerances at
its very centre. In the fall of 2014, a series
of proprietary asset management products
using the risk-adjusted multi-asset framework
will be launched as Canaccord Genuity Global
Portfolio Solutions (GPS).
Prior to joining Canaccord Genuity, Robert
spent 10 years at Credit Suisse as Global
Equity Strategist with experience in European
equity strategy, quantitative equity strategy
and European economics and previously
worked as a bond analyst for Paine Webber.
Having started his career in academia,
followed by a stint as a civil servant at a
number of government departments as a
statistician and an economist, Robert had
numerous papers published in various
economic journals before embarking
on his career in finance. Most recently,
Robert’s work was published in
Approaches to High Net Worth Investment
(Rudd & Satchell, 2014), a collection of
studies on the investment behaviour of high
net worth investors, with a focus on analytical
and quantitative techniques.
In addition to contributing to
The Global
, Robert produces a
newsletter for distribution to
Management clients in the UK and Europe
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