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Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

"... Since the Supremely Long-Term TAIL risk wagging the economic dog here remains a demographic (aging – see Chart of The Day) one, I’m most impressed with long-term investor returns that have nailed that. Slower (growth) for longer has equated to supreme alpha for buy-and-hold investors in long-term sovereign bonds."

CHART OF THE DAY: The Supremely Long-Term Tail Risk Wagging The Economic Dog - 03.14.16 Chart