A Hedgeye subscriber asked how Thursday’s CPI report might impact the Yen and Japanese stocks. Keith McCullough’s answer? It doesn’t. And that’s the point. There’s a whole world of investing opportunities that don’t depend on the handful of headline numbers U.S. investors salivate over.
“There’s a mania in CPI watching. It’s the first time in my career people have an opinion on CPI. They don’t have a model, but they have an opinion,” explains Hedgeye’s CEO. “The Fourth Turning is here: You have an opinion on things that suit what you need to have happen in life, whereas there’s this other thing called data dependence or apoliticalness.”
Speaking to a broader audience in this recent episode of The Macro Show (which is available for anyone to view free) McCullough speaks to the difference between Hedgeye and typical performance-chasing investors.
“This is a really good opportunity to say, ‘I don’t have to wake up and have a heart attack about FOMO futures. I’ll go to Japan and India,’” McCullough adds. “By the way, in the U.S., we have plenty of equity exposures, just not what everybody owns: Defense (ITA), Health Care (XLV), Nuclear (NLR). There’s a lot to do without having to be long Apple (AAPL) and Microsoft (MSFT).”
CLICK HERE to watch the full episode of The Macro Show free on demand.
