In this excerpt from our Short Caterpillar Black Book presentation held on August 4, 2016, Hedgeye Industrials analyst Jay Van Sciver discusses where CAT ranks on his list of short calls.
Takeaway: The Fed is hell-bent on making ETF distributors and robo-advisors out of all of us. Who will fight back against such tyranny?
The divergence between asset prices and their fundamentals is only matched by the divergence between sentiment among active managers and all-time highs in the SPY.
The latest ICI data show that a net $26B was pulled out of long-term, US-focused stock mutual funds in the week-ended August 3rd. ICI has now recorded 23 straight weeks of outflows from these funds, for a total of ~$100B. It compares this to the $170.7B that left such funds for all of 2015. In the past 17 months, ICI has recorded only four weeks of net inflows for such funds. The Fed is hell-bent on making ETF distributors and robo-advisors out of all of us.
Who will fight back against such tyranny?
Editor's Note: The snippet above is from a note written by the Hedgeye Macro team and sent to subscribers this morning. Click here to learn more.
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
get free cartoon of the day!
Start receiving Hedgeye's Cartoon of the Day, an exclusive and humourous take on the market and the economy, delivered every morning to your inbox
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.
Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye Director of Research Daryl Jones. Click here to learn more.
"... As we've highlighted in the Chart of the Day, productivity, which is a proxy for the goods and services produced each hour by Americans, has now declined for three straight quarters. As the chart shows, productivity declined both sequentially and year-over-year. This was also the first time since 1979 that productivity has declined for three quarters in a row."
In this brief HedgeyeTV video, Hedgeye Potomac Senior Energy Policy analyst Joe McMonigle explains why Saudi Arabia and Iran will once again dash OPEC oil production “freeze” discussions.
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.