Here's a quick look at some of the top videos, cartoons, market insights and more from Hedgeye this past week.
McCullough: I’ve Never Tried Heroin and Europe Looks Like Hell
In this excerpt from Wednesday’s Morning Macro Call for institutional subscribers, Hedgeye CEO Keith McCullough discusses the recent moves in European equities and questions whether ECB President Mario Draghi’s money printing (which we affectionately call the “Draghi Drugs”) can still deliver a high. If you’re hedged on the hope that central banks will save you, the fundamental issues in the major economies will hurt you.
McCullough: Why You Won't See Me In Barron's Any Time Soon
In this brief excerpt from Monday’s Institutional Morning Macro Call, Hedgeye CEO Keith McCullough discusses failed forecasts from Barron’s and the only catalyst for the long bond.
EXCLUSIVE: Keith McCullough’s 2015 Market Forecast
In this brief excerpt from Tuesday’s Morning Macro Call, Hedgeye CEO Keith McCullough finally offers his coveted 2015 market forecast in response to a viewer’s question.
Q&A: What Deflation Means for Texas and Your Portfolio
The crash in oil is old news by now, so on Wednesday's Morning Macro Call Keith McCullough responds to a subscriber question with a breakdown of how deflation impacts the rest of your portfolio, from the MLP space to Healthcare.
HEDGEYE IN THE MEDIA
McCullough on Fox Business: "The Most Contrarian Thing I've Ever Heard!"
Hedgeye CEO Keith McCullough appeared on Fox Business' Opening Bell with Maria Bartiromo Friday morning with Jeff Kleintop of Charles Schwab and Jones Trading Chief Market Strategist Mike O’Rourke. During a heated discussion on what will drive stocks in 2015, Kleintop claimed the new year will be brighter for global growth and Keith fired back that this is the most contrarian view he has ever heard.
Next, Keith and Mike O’Rourke sounded off on the state of the markets. Keith highlighted his view that the rest of the world is an ongoing "train wreck" and discussed risks associated with rising volatility.
In this final clip, Keith and Mike O’Rourke discussed the economic implications of low oil prices. Keith reiterated his call to buy the long bond (TLT) as growth will surprise on the down side.
"Nowhere to run to, baby ... Nowhere to hide."
-Martha and the Vandellas
"The risk that was developing in Russia has been crystal clear," Hedgeye's Keith McCullough tweeted on Monday. "It's nothing new." On a related note, the Russian stock market crash continues unabated... down another -5.7% #NoWorries right?
Positioning for Fire $LNCO
Editor's note: Below is an excerpt from Friday's Morning Newsletter written by Hedgeye Energy Sector Head Kevin Kaiser.
I don’t spend a lot of time trying to forecast what I’m ill-equipped to forecast with a high degree of confidence. I don’t know when lightning will strike. But I can put forth investment ideas that are based on sound data and reasoning, and are likely to work under various assumptions and scenarios. And when the spark is set, I am prepared and well-positioned.
I’ve written about no company more than LINN Energy (LINE, LNCO) over the past two years because I thought that the system was extremely unstable. The basic story has always been the same – the company makes no real profit, but dividends out $1 billion per year, which it pays for via serial debt and equity issuance. As I saw it, it was highly likely to end disastrously. The pushback was consistent, “There’s no catalyst.” This was not a good idea, I was told, because there wasn’t a lightning storm in sight…
Is It Really Different This Time? (Consensus U.S. GDP Forecast Edition)
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POLL OF THE DAY
Poll of the Day: Will Vladimir Putin Take Major Military Action in 2015?
The crash in Russia continues as the ruble plunges to record lows, oil drops 50% since June, and the Russian stock market sinks over 50% YTD. We wanted to know what you thought.