While we are in our morning meeting talking about the EU growth outlook, Russia’s continued slide (down another -4.4%), China’s CPI numbers, the stark reversal in yesterday’s US equity markets, and how this all ties into the best stock calls, my Partner Keith McCullough is in NYC this morning partaking in some important high-level meetings with people that have been tracking, listening, and watching our progress. To others following our work, this is likely not a shocker. To everyone else, the performance chart below might paint the picture. It outlines the key market calls Keith has made since May, when we opened the doors at Research Edge here outside Yale University. No, I’m not making up these numbers and dates.
In no way do I want to diminish this recent success, but I want to highlight something that I view as more important than the numbers -- the people and investment processes that drive our model.
I’ve known Keith for a while, and have always known that his results and accomplishments over the past 10 years are tough to argue with. But even way back when Keith, Michael Blum (our COO) and I white-boarded the plans for this business, I did not have any clue as to the sheer depth of his investment process, breadth of intellectual leadership, and ability to balance risk and maximize alpha.
Yes, the day will come when he, and we, will be wrong. And trust me, even though there are plenty of people waiting for that to happen, we will be our own harshest critics – by far.
The investment team here at Research Team is – by the longest of long shots – the best I have ever had the pleasure of working with in my 15 years on Wall Street. I’d pit this research team against anyone, anywhere anyhow. It’s a pleasure to lead them. And yes, as a team, we’re adopting the same process that has driven Keith’s results thus far.
For those of you that have not yet seen it, check out the results of the “Hedgeye Portfolio,” and you’ll see similar results at the individual stock level. The beauty of this model is that thought leadership is very very scalable.
President and Director of Research
Research Edge, LLC