BERNANKE: WHO IS THIS GUY?

Takeaway: After listening to this unelected, unaccountable central planner’s testimony earlier this morning, all I can say is be very careful up here.

(From @keithmccullough and Keith's morning call.)

 

The top three items in my risk notebook this morning were as follows:

  1. Bernanke
  2. Bernanke
  3. Bernanke

After listening to this unelected, unaccountable central planner’s testimony earlier, all I can say is be very careful up here.

 

Here are some of my key thoughts and takeaways from the man Marxists fawn over:

  • The Serial Debaucher of your hard earned currency marches on, deciding not to acknowledge economic gravity and taper bond buying.
  • The best path for US #GrowthAccelerating is for the Fed to get out of the way. On a related note, the faster the Fed gets out of the way of #StrongDollar, the faster gas prices will finally fall and fuel U.S. consumer spending.
  • Bernanke says, “I have a great inflation track record" (all-time highs in oil, gold, and food prices during my term). The man is a world class storyteller, but a horrendous market and economic forecaster.
  • Why are consumer prices falling? Simple. Because Bernanke perpetuated the all-time highs in consumer prices back in 2011-2012.
  • Modern science and math has taught us to embrace uncertainty - Bernanke's model promises politicians certainty. Meanwhile, the certainty Bernanke promises (his forecasts, timing, etc) is certainly wrong at least 2/3ds of the time.
  • There was a day when I didn't like the policy and traded what I didn't like about it. Now I just accept it, and front-run it.

Bottom Line: Bernanke is officially the market's biggest liability. He has no idea how all of this will end. This whole thing will end in tears if he thinks he can call the turn. Be careful up here.

 

BERNANKE: WHO IS THIS GUY? - ben bernanke


Cartoon of the Day: Hard-Headed Bears

How's this for "hard data"? So far, 107 of 497 S&P 500 companies have reported aggregate sales and earnings growth of 4.4% and 13.2% respectively.

read more

Premium insight

McCullough [Uncensored]: When People Say ‘Everyone is Bullish, That’s Bulls@#t’

“You wonder why the performance of the hedge fund indices is so horrendous,” says Hedgeye CEO Keith McCullough, “they’re all doing the same thing, after the market moves. You shouldn’t be paid for that.”

read more

SECTOR SPOTLIGHT Replay | Healthcare Analyst Tom Tobin Today at 2:30PM ET

Tune in to this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.

read more

Ouchy!! Wall Street Consensus Hit By Epic Short Squeeze

In the latest example of what not to do with your portfolio, we have Wall Street consensus positioning...

read more

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more