Hedgeye Restaurants sector head Howard Penney is simply on fire. Last week we highlighted his great call on Bloomin’ Brands (BLMN). And guess what? The stock has continued to fall – it’s now down -20% since he added it as a Best Ideas SHORT on November 27, 2013 at $26.71/share. Since this time, 2014 EPS estimates have been revised down from $1.33 to $1.22 and the share price has acted accordingly.
Howard also discussed BLMN as one of his favorite short ideas on HedgeyeTV back in April.
http://www.youtube.com/watch?v=xtlZGIHWGPI
What have we learned here? Pay close attention to Howard Penney.