The Best of This Week From Hedgeye

Here's a quick look at some of the top videos, cartoons, market insights and more from Hedgeye this past week.

HEDGEYE TV

McCullough: Why I’m Using the Word “Recession” for the First Time This Year

 

In this excerpt from the Q&A portion of Monday's Morning Macro Call for institutional subscribers, CEO Keith McCullough says that Fed Chair Janet Yellen could make a move that puts the U.S. in recession.

 

Keith's Macro Notebook 12/22: Yen | Russia | Sentiment

 

Hedgeye CEO Keith McCullough shares the top three things in his macro notebook Monday morning.

 

McCullough: Serious Lack of Momentum in the Momentum Stocks | $GPRO $LOCO

 

In this brief excerpt from Tuesday’s Macro Call for institutional subscribers, Hedgeye CEO Keith McCullough notes the similarities between current and earlier bubbly periods and highlights two momentum stocks in particular which are representative of the current climate. 

 

CARTOON

 This Won't End Well

The Best of This Week From Hedgeye - Russia Timmy 12.23.14

The Gong Show that is Russia continues. The stock market is in a deep hole, down more than 40% this year.

 

CHART

Consensus Macro Positioning $SPX $TLT

The Best of This Week From Hedgeye - COD 12.22..14

"I’ve used the net long/short positions of CFTC Non-Commercial positioning as a contrarian Global Macro indicator for years," wrote CEO Keith McCullough in Monday's Morning Newsletter.

 

 

Yield Spread Compression #NoWorries

The Best of This Week From Hedgeye - COD 12.23.14

YIELD SPREAD – the belly of the curve is even flatter, but the big one almost every objective strategist monitors (10s/2s spread) compressed another 7bps Tuesday morning to a fresh YTD low of +146bps wide (-38% YTD).

 

POLL OF THE DAY

Will the 10-year Treasury yield go below 2% at any time in the 1st quarter of 2015?

 

Our biggest call by far this year has been bucking the consensus tide on the direction of Treasury yields. While others said yields had nowhere to go but up, we remained resolute that yields were in fact, heading lower. So, as we head into the new year, we wanted to know what you think 2015 has in store. 


Did the US Economy Just “Collapse”? "Worst Personal Spending Since 2009"?

This is a brief note written by Hedgeye U.S. Macro analyst Christian Drake on 4/28 dispelling media reporting that “US GDP collapses to 0.7%, the lowest number in three years with the worst personal spending since 2009.”

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7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

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Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

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GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

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Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

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Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

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Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

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People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

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UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

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Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

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Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

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An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

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