McCullough: Process Outperforms Narratives and Predictions

The scoreboard doesn’t lie.

Old Wall was quick to declare (premature) “victory” over inflationary and recessionary threats, but in the months since, Keith McCullough has booked consistent wins by remaining committed to our unique and repeatable investing process.

“When you see us being critical of chart monkeys or [CNBC pundit] Drawdown Josh Brown, it’s because we’re trying to make fun of something that’s actual comedy versus the actual game being played by real pros at the highest level,” Hedgeye’s CEO explains in this clip from The Macro Show.

Unlike his competitors, McCullough’s focus is on reporting reality, not selling stocks. By taking into account inflation’s base effects and rising oil prices, he accurately forecasted inflation’s re-acceleration in July.

“We went long Uranium (URA) on July 17 and shorted Utilities (XLU) against it,” McCullough adds. “If you want to putt at the highest level, you’ve got a lot of work to do. We’re proud of that. Our Macro Themes deck is 188 slides deep. This is all embedded into my game plan before I make one trading decision.”

McCullough went through the main points of Hedgeye’s process during Monday’s Macro Themes Coaching Session. Watch the webcast on-demand, and today’s Macro Show in its entirety, both free as part of All Access Week.