In 2014, we were sick and tired of hearing narrative after narrative on "Old Wall" TV. We created The Macro Show for everyday investors looking for a better way to access real-time investable market analysis.
Track trends in stocks, commodities, currencies, and interest rates across the globe every morning before the market opens with former hedge fund veterans, Hedgeye CEO Keith McCullough and Director of Research Daryl Jones.
To help keep you Macro Aware, we've included video highlights from this week's key themes from The Macro Show. We’ve also transcribed brief excerpts to speed up your idea generation process.
Enjoy and have a great weekend.
KAPLAN.
"You took a position of power to get yourself a seat in government, then took advantage of that information to trade millions and millions of dollars on it.
That's an effing disgrace. People are pissed off, and you don't even have it in your spine to apologize."
“First off, it’s an embarrassment to the United States of America. Secondly, you know better. And third, shame on you for not apologizing. To say that you’re resigning because you’re ‘distracted,’ come on.”
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Micron, Semis
"I am a Full Cycle Investor, that incidentally trades in moments of truth. It’s the particular things that matter; not the moving average of things, people’s valuation of things, or their current view of Wall Street’s downgrading of earnings when we’re upgrading GDP.”
“The CNBC crew is going to be talking down Semis today because of Micron. Micron is a dog because the company has no pricing power, it’s a pure commodity.”
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housing: Bullish Fundamentals (but when to get in)
“There’s a long-term bull case for home prices, we know that. And it’s a huge component of CPI… that being said, I’m not buying the Home Construction ETF (ITB) because:
A) The backtest is unfavorable for $ITB in #Quad2
B) The Signal (which trumps the Quads) is also quantitatively bad at the moment”
“We also have housing demand accelerating (via Mortgage Purchase Applications) against some easier base effects. I gave you two fundamental reasons to buy Housing, and a Signal and a Quad that says don’t do it yet.
It’s hard for people to take that. We try to get the fundamentalists to understand that timing matters… we know why we’d get long Housing, but when we’d get long Housing is a much better answer.”
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