In this clip from Hedgeye’s 9th Semiannual Investing Summit, Hugh Hendry (Founder of Eclectica Macro) discusses with Hedgeye CEO Keith McCullough about the bleak macro outlook that investors face coming into year end.

“With the bond market and the curvature of the yield curve, this is the most predictable big recession ever. For over the last year everyone has been going ‘Fed! What are you doing? This is going to be a disaster’ You can actually see that people have become fed up with volatility. Buying volatility has failed, so people have been reducing risk. It’s a non-entity and it’s going to get bad.”

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Hugh Hendry: “This Is The Most Predictable Big Recession Ever” - HIS Guest Lineup