• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Chart of the Day

  • Current levels of capital investment by miners is at bubble-like levels
  • If D&A represents an estimate of maintenance capital spending, current capital spending is heavily skewed toward increasing output
  • Mature, cyclical industries (mining is among the most mature) do not support high levels of growth investment in the long-run

 Industrial Indicator: CAT & Mining Investment Bubble - Mining Capital Spending

  • Caterpillar has outperformed, with a millennium-start to date total return of 393% vs. 16.9% for the S&P 500
  • Caterpillar’s success is heavily dependent on this explosion of investment by miners.

 Industrial Indicator: CAT & Mining Investment Bubble - cat rel spx

Upcoming Events:  Truck OEM Black Book

Industrial Indicator: CAT & Mining Investment Bubble - perf 71212