In this excerpt from The Macro Show this morning, Hedgeye CEO Keith McCullough discusses what happens to commodities in Quad 4. In particular, why the Hedgeye investing process has us short this asset class, while many macro tourists remain long.
“The whole point about commodities in #Quad4 is that they go down, they go down a lot,” explains McCullough. “We’re gonna stay on the short side of commodities.”
“A lot of macro tourists are still long commodities as an asset class because that was their way to ‘play inflation,’” McCullough adds. “The time to buy commodities was in June of 2020, we were the only firm to go from bearish to bullish on commodities back then.”
