Whether it’s Bitcoin, Tesla (TSLA) or cattle futures, Keith McCullough will short anything that’s bearish Trend and at the top end of its range. No amount of chirping from the laser-eyed crypto crowd will change Hedgeye’s time-tested risk management process.
“I don’t feel compelled to market someone else’s Bitcoin story,” explains McCullough in this clip from The Macro Show. “I’m in the place that I am today because I’ve earned the unalienable right to do whatever I damn well please with my hard-earned capital.”
McCullough is quick to point out the NASDAQ and Russell have dropped dramatically from cycle highs. But, for some reason, making the same observations about Bitcoin evokes “evangelical emotional episodes” from crypto bulls on social media.
“If the question is: ‘Why aren’t you long Bitcoin?’ or ‘Do you think we have too much cash?,’ stop worrying about what other people say or do,” McCullough adds. “Every day, we’re going to work our ass off to make the next good decision with our capital and process and completely ignore what everyone else has FOMO about.”
