In this special investing webcast, Hedgeye CEO Keith McCullough explains why we believe the USA is set to enter #Quad3 Stagflation. Keith discusses the underlying economic data and specific asset allocations best-suited to take advantage of this investing environment in your portfolio.
Here's how we described this theme in our Macro team's "Q4 2023 Quarterly Macro Themes" presentation on September 28th:
Easy CPI comps are fully rearview, Headline & Supercore Inflation are reaccelerating, Demand growth is back to Trend deceleration following the countertrend bounce in July and the inimical margin-negative Quad 3 duo of Demand ↓, Prices ↑ has now defined the prevailing reality domestically since late July. Meanwhile, the global/local industrial-mfg recession remains entrenched, the consumer retrench continues to intensify and the list of income/discretionary consumption shocks in queue continues to layer as “the Convergence” thesis we promulgated in 2Q remains on time and on script. We’ll detail where we are on that Convergence timeline, how long we expect the Stagflationary mojo to persist and how we’ll risk manage & allocate inside the current, idiosyncratic version of Quad3.
This webcast provides an abbreviated sneak peak inside our Macro team's flagship "Quarterly Macro Themes" presentation (note: the entire 181-page slide deck and 65-minute webcast is available to Macro Pro subscribers).
If you want an edge on the biggest trends driving portfolio performance over the next 3-6 months, we encourage you to watch "The Outlook."