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. A Look At U.S. Economic Growth (4/29/2016)
We don't believe the permabull's "all is good" narrative about the U.S. economy. Our forecast for the 1st half of 2016 represents the slowest pace of US domestic economic growth since the back half of 2012.
2. High Finance (4/28/2016)
This one speaks for itself.
3. Choppy Waters (4/27/2016)
Permabulls are desperately hoping and praying that a dovish Janet Yellen will continue devaluing the U.S. Dollar to keep propping up stocks.
4. The Elephant In The Room (4/26/2016)
We think U.S. GDP will come in significantly worse than even downwardly-revised macro consensus or the Fed is currently forecasting.
5. Earnings Jack-In-The-Box (4/25/2016)
"If the economic (GDP falling to 1%) and profit cycle (SP500 Earnings currently -8.1% year-over-year with 130/500 companies reporting) data wasn’t so bad, those begging for Dovish (Fed) Dollar Devaluation wouldn’t believe in buying commodities/stocks here either," Hedgeye CEO Keith McCullough wrote in today's Early Look.