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.
"... If all you do is US Equities, did someone say underweight (short) the Financials vs. Utilities in 2016?
- Financials (XLF) hammered on Friday, losing another -5.4% to down -7.3% YTD
- Utilities (XLU) did their job for our clients, closing +0.6% on a very red day for Equity Beta at +16.9% YTD"