“Other people are your business.”
-Rich Paul
That’s one of Rich Paul’s life “rules” in an eye-opening #behavioral book I’ve cited a few times this year titled Lucky Me – A Memoir Of Changing The Odds (from living in the hood in Cleveland, Ohio).
“Dad unlocked the door of R&J Confectionary at six every morning. Some days I opened the store with him and worked until about eight, when he saw me off to school. After school, I came right back…
“I know what you’re thinking. How can a 6 or 7-year old boy run a cash register? Well, I knew how to count, and I’d been watching my Dad on the register for as long as I can remember. The register was basically a calculator. Easy.” (pg 15)
Back to the Global Macro Grind…
Every one of you has a life story. Everyone in your life does too. How do you impact other people? How have some of The People impacted you?
Rich Paul says he’s as thankful for his Mom being a lost crackhead as he was for his adopted Dad being his mentor. Think about that for one more second…
He ended up being the most successful “calculator” of the hard-earned capital of The People playing in the NBA.
In addition to counting my blessings this Thanksgiving, I’ll be doing my job. I take great pride in helping The People preserve & protect their hard-earned capital.
With that all said, I wanted to thank all of you for helping me, my family, and my firm earn our living.
Now let’s get back to building The Pile and start with where I’m at from The MFO (Mucker Family Office) Long Only Account perspective (it’s also called our Portfolio Solutions product, which you can receive either daily or weekly):
Top 10 Long Only Positions (re-ranked, daily, by additions and subtractions to either existing or new Asset Allocations):
- FDRXX (Fidelity High Yielding Money Market Cash)
- TFLO (US Treasury Floating Rate Bond ETF)
- TBIL (3-month US Treasury Bills ETF)
- SHY (1-3-month Treasury ETF)
- GLD (paper Gold)
- AAAU (physical Gold)
- BTAL (US Market Neutral Anti-Beta Fund)
- INDA (MSCI India Equity ETF)
- NLR (Uranium & Nuclear Energy ETF)
- IAK (US Insurance Stocks)
Long 5% Risk Free Assets (that have no volatility), Gold, India, Uranium, and Insurance?
A: Yep.
Is that the consensus portfolio for The People?
A: Nope. Sadly, “60/40” still is.
And that’s for The People who actually have a 401k and/or retirement plans. Some of The People who grew up with Rich Paul understand the value of physical Gold as much as The People in India do.
Does it matter that people on The Cartoon Network (CNBC) don’t have these Asset Allocations?
A: Nope.
Did you know that, ex-Anti Beta (BTAL), most of these Asset Allocations are at or very close to 6-month highs?
Nope. I didn’t say 1-month chart-chasing highs in everything that was making 3-month lows at the end of October. I don’t have major Asset Allocations to big things that are still having big-time drawdowns since July either…
I said what I said because these are the positions I chose. I choose NOT to have crashes and drawdowns of my hard-earned capital. I choose not to chase what everyone else HAS to chase.
I choose my Full Investing Cycle #Process. And I am very thankful to all of you for giving me the opportunity of a life-time. You’ve given me an opportunity to not only coach The Process to The People, but live it out-loud.
Other people are my business. Happy Thanksgiving to you and your family,
KM
Immediate-term Risk Range™ Signal with @Hedgeye TREND signal in brackets
UST 10yr Yield 4.32-4.69% (bearish)
UST 2yr Yield 4.75-5.07% (neutral)
High Yield (HYG) 73.54-75.25 (bearish)
SPX 4 (bearish)
NASDAQ 13,486-14,465 (bullish)
RUT 1 (bearish)
Tech (XLK) 175-187 (bullish)
Energy (XLE) 82.19-85.70 (bearish)
Utilities (XLU) 59.31-63.62 (bullish)
Shanghai Comp 3015-3078 (bearish)
BSE Sensex (India) 64,499-66,364 (bullish)
VIX 13.25-17.29 (neutral)
USD 103.30-106.02 (bullish)
EUR/USD 1.062-1.095 (neutral)
USD/YEN 147.51-152.65 (bullish)
Oil (WTI) 73.34-79.98 (bearish)
Gold 1 (bullish)
Copper 3.55-3.84 (bearish)
NVDA 469-510 (bullish)
Bitcoin 35,370-38,263 (bullish)
Best of luck out there today and enjoy your holiday weekend,
KM
Keith R. McCullough
Chief Executive Officer
