In this edition of “Real Conversations,” AQR Capital Management principal and Efficiently Inefficient author Lasse H. Pedersen sits down with Hedgeye CEO Keith McCullough to demystify the “secret” world of active investing. Pedersen, who is also a finance professor at Copenhagen Business School and NYU Stern School of Business, describes some of the key trading strategies used by top hedge fund managers, many of whom he interviewed one-one-one for his book.
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. Bob is on a much-deserved summer vacation. While he kicks back and relaxes, we're going into the Hedgeye Vault and highlighting some of his best work. (Click here to receive our daily cartoon for free.)
1. Blast Off! (8/5/2016)
After Friday's Jobs Report "beat" analyst expectations, Hedgeye CEO Keith McCullough wrote, "After going from hawkish to dovish to hawkish to dovish to hawkish, this Jobs print keeps Federal Reserve hawkish."
2. Choppy Waters (8/4/2016)
Since Yellen & Co. have totally got this (for sure), we bring you another audience favorite.
3. Bull Bomb (8/3/2016)
As U.S. equity indices hang out near all-time highs, we bring you another audience favorite.
4. Happy Hour? (8/2/2016)
With oil down 28% from its recent high, we bring you another audience favorite.
5. Currency Wars (8/1/2016)
In light of all the monetary policy shenanigans, we bring you another audience favorite.
Click here to receive our daily cartoon for free.
GET THE HEDGEYE MARKET BRIEF FREE
Enter your email address to receive our newsletter of 5 trending market topics. VIEW SAMPLE
By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails.
Our inimitable, in-house cartoonist Bob Rich is on a much-deserved summer vacation. While he kicks back and relaxes, we're going into the Hedgeye Vault and highlighting some of his best work. After Friday's Jobs Report "beat" analyst expectations, Hedgeye CEO Keith McCullough wrote, "After going from hawkish to dovish to hawkish to dovish to hawkish, this Jobs print keeps Federal Reserve hawkish." Here's another audience favorite ... Blast off!
Takeaway: A closer look at global macro market developments.
Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, rates and bond spreads, key currency crosses, and commodities. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products.
CLICK TO ENLARGE
Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye U.S. Macro analyst Christian Drake. Click here to learn more.
"... Global demand and domestic output growth are down. And employment growth in excess of output growth – which remains the case currently- is paid for via lower corporate profitability.
Absent improved productivity, “strong” employment trends = further margin compression = continued profitability pressure against a backdrop of forward earnings growth estimates in the mid-teens. We continue to think those expectations need to be marked lower."
real edge in real-time
This indispensable trading tool is based on a risk management signaling process Hedgeye CEO Keith McCullough developed during his years as a hedge fund manager and continues to refine. Nearly every trading day, you’ll receive Keith’s latest signals - buy, sell, short or cover.