“Initiative is doing the right thing without being told.”
-Victor Hugo
That’s my goal for both my teammates and all of you. Especially if you’re full-send into our #GoAnywhere Full Investing Cycle process, the goal of every coach should be to level-up his players so that they know what to do without being told.
As the old battle-tested Bullfrog, Admiral McRaven, reminds us, this sounds simple, but it’s NOT easy. You need to “foster a culture of ACTION…”
You need to “accept the fact that this will lead to zealousness and the occasional screwup. This overenthusiasm is better than a culture of inaction. Praise those who attempt to solve problems on their own.” -Wisdom of The Bullfrog, pg 75
Back to the Global Macro Grind…
If you don’t know what the Navy SEALS #team culture and mine have in common,, I invite you to spend a day on the “floor” @Hedgeye HQ and sit near Brian McGough, Andrew Freedman, Rob Simone, etc!
And if you don’t know about taking action and buying the damn dips like we have for the last while, then subscribe to both Real-Time Alerts and our new Portfolio Solutions products. That’s all about taking transparent action.
‘Ok, “confident Keith”, tell me all about how brilliant your recent Buy Signals have been.’
Haha. No problem, buds. Here’s my Re-ranked Long Only Account that comes out daily in Portfolio Solutions:
- Ball Hoggers (High Yielding Cash and Bills) = FDRXX, BUXX, TFLO, TBIL
- High Yield (HYG)
- QQQ
- S&P500 Top 50 (XLG)
- South Korean Stocks (EWY)
- S&P500 Momentum (SPMO)
- US Healthcare (PINK and PJP)
- US Equity IPOs (IPO)
- Swedish Stocks (EWD)
- Russell Growth (IWO)
Ok, so there’s the Top 14 out of 38 #GoAnywhere Asset Allocations in our model. Perhaps you think that’s a lot. For me, it’s not. Embedded in our daily Global Macro #process is reviewing the #VASP Signals of over 2,600 ETFs!
Nope, this ain’t your Old Wall Grandpa’s 60/40. Don’t tell anyone, but these are fractal dimensions augmented by The Quads and Eh-Eye (AI)…
Some of these ETF manufacturers like us when we add their ticker to Portfolio Solutions (look at what their AUM does – I can’t believe they don’t send me some flowers) and others loathe us.
Why loathe Hedgeye? We’re so cute and loveable.
For example, yesterday (in Portfolio Solutions) I added some of Eh-Eye exposure via the Roundhill Generative AI ETF (CHAT) after I sold all of my exposure to what’s been a solid Consumer Staples (XLP) Asset Allocation.
When I opened the CHAT and looked inside, what did I see?
A) 4 of the Top 5 Holdings are names my teammates (analysts) still like = NVDA, MSFT, GOOGL, META
B) Nothing really interesting other than more exposure to what I wanted to buy after a damn dip
Since my 15-year-old self-imposed compliance rules don’t allow me to BUY or SELL any stock that my analysts are covering from an Independent Research perspective, buying CHAT is how I get more exposure to those 4 names.
Why did I sell the Staples (XLP):
A) Mucker is like Moses, the Gods send him a divine signal from the Stamford, CT skies and voila!
B) Kidding, obviously. XLP moves from a Long in Narrow #Quad4 to a Short when in outright #Quad2
And, since I really don’t want to go north of 40 Asset Allocations, a ticker had to get curbed to make room for CHAT.
Another question you should have is where is all the Commodity/Energy/Inflation Exposure in the portfolio? I was selling-SOME of those positions on green (so they move DOWN the Re-Rank) as I was buying GROWTH on red.
That’s the fractal beauty of the #GoAnywhere process. There’s embedded asymmetry in the portfolio.
‘Cool, I like “confident Keith”, so how do I think about buying the damn dips through the coaching in Real-Time Alerts?’
A: Great question!
A) Real-Time (Coaching) Alerts has evolved, big time, since I introduced it 15 years ago via the OG #timestamps
B) It has “Coaching Notes” in most Alerts that have more to do with running your portfolio than the ticker itself
I’ve had great feedback on this product/platform pivot to real-time, in-Game, coaching. So thank all of you for that. It’s inspired me and reminded me that we are a company of transparent and accountable ACTION.
While Real-Time Alerts is NOT a portfolio (it’s a coaching tool), you know precisely what direction my portfolios are going WHEN I give you these “Coaching Notes.”
In the last month I’ve had 63 closed positions and 73% of them have been BUYs (so you’re saying I’ve been bullish, eh). Total Gains = 87% vs. Total Losses = 13%. MAX Gain = +11.8%, MAX Loss = -0.9%. AVG Gain = +2.1%, AVG Loss -0.3%.
Immediate-term Risk Range™ Signal with @Hedgeye TREND signal in brackets
UST 10yr Yield 4.20-4.41% (bullish)
UST 2yr Yield 4.51-4.76% (bullish)
High Yield (HYG) 76.75-77.56 (bullish)
SPX 5189-5275 (bullish)
NASDAQ 16,165-16,491 (bullish)
RUT 2045-2128 (bullish)
Tech (XLK) 206-211 (bullish)
Insurance (IAK) 114.11-117.94 (bullish)
S&P Momentum (SPMO) 79.20-81.18 (bullish)
Healthcare (PINK) 29.77-31.11 (bullish)
BSE Sensex (India) 72,039-74,216 (bullish)
DAX 18,109-18,537 (bullish)
VIX 12.17-14.84 (bearish)
USD 103.68-104.90 (bullish)
Oil (WTI) 80.95-86.12 (bullish)
Gold 2198-2325 (bullish)
Copper 3.99-4.27 (bullish)
Silver (SLV) 25.38-27.70 (bullish)
MSFT 416-430 (bullish)
AAPL 166-175 (bearish)
META 483-518 (bullish)
GOOGL 147-158 (bullish)
NVDA 872-956 (bullish)
Bitcoin 64,687-72,952 (bullish)
Best of luck out there today,
KM
Keith R. McCullough
Chief Executive Officer
