Our cartoonist Bob Rich captures the tenor on Wall Street every weekday in Hedgeye's widely-acclaimed Cartoon of the Day. Below are his five latest cartoons. We hope you enjoy his humor and wit as filtered through Hedgeye's market insights. (Click here to receive our daily cartoon for free.)
1. Herd mentality (3/18/2016)
Definition of "Herd Mentality" via Wikipedia:
"Herd mentality, or mob mentality, describes how people are influenced by their peers to adopt certain behaviors, follow trends, and/or purchase items. Examples of the herd mentality include stock market trends, superstition and home décor... Driven by emotional reactions such as greed and fear, investors can be seen to join in frantic purchasing and sales of stocks, creating bubbles and crashes."
2. Cukoo Markets (3/17/2016)
Markets remain at the mercy of a mercurial Fed.
3. Atlas shrugged (3/16/2016)
The most recent round of permabull narratives rests on an increasingly shaky foundation.
4. crude or crud? (3/15/2016)
Oil prices continue to fall despite Wall Street's continued predictions otherwise.
5. Fed Day (3/14/2016)
Hedgeye CEO Keith McCullough wrote in this morning's Early Look:
"... On cyclical stuff that has been crashing for 1-3 years, we’re “off the lows”, bros! And the Fed is going to be hawkish about that on Wednesday because:
- Deflation In Commodities has had another short-term “reflation” (isn’t that “transitory” btw?)
- Late Cycle Employment reports (while slowing in rate of change terms) are still “good”