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PREMIUM INSIGHT

About Everything | Replay with Neil Howe and Darius Dale - Aging Boomers

About Everything | Replay with Neil Howe and Darius Dale  - Aging Boomers - AE thumbnail

Join us live! Hedgeye Demography Sector Head Neil Howe and Macro analyst Darius Dale will discuss how America's aging Baby Boomers will feed (or starve) a wide range of industries—thanks to their sheer demographic size and generational preferences.


CHART OF THE DAY: Trump Has The Momentum

Editor's Note: Below is an excerpt and chart from today's Early Look written by Hedgeye Director of Research Daryl Jones. Click here to subscribe.

 

There is no denying Trump has the momentum.  Whether it is Clinton’s sickness, a deflating of her post convention bounce, Trump just getting some verbal discipline, or recent miscues of Clinton’s, the poll numbers between the two candidates have narrowed meaningfully over the last month.  The Chart of the Day below highlights this graphically over the last 30 days.

 

CHART OF THE DAY: Trump Has The Momentum - zb 09.14.16 EL Chart


PREMIUM INSIGHT

About Everything: Aging Boomers (Big "Silver Tsunami" Implications)

About Everything:  Aging Boomers (Big "Silver Tsunami" Implications) - seniorwave1

In this complimentary edition of About Everything, Hedgeye Demography Sector Head Neil Howe discusses how America's aging Baby Boomers will feed (or starve) a wide range of industries—thanks to their sheer demographic size and generational preferences.


Attention Students...

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Cartoon of the Day: BOJ to the Rescue?

Cartoon of the Day: BOJ to the Rescue? - Nikkei  BOJ cartoon 09.13.2016

 

Sure, this is normal. The BOJ (already a top-five owner of 81 companies in Japan’s Nikkei 225) is on course to become the #1 shareholder in 55 of those firms by the end of next year, according to Bloomberg. Meanwhile, BOJ Governor Haruhiko Kuroda almost doubled his annual ETF buying target last month.


Steiner: Market Risks Significantly Exceed Reward

Hedgeye Financials analyst Josh Steiner highlights the most significant economic threats right now and says that market risk is exceeding reward.

 

Cheers to the Grind...Receive 50% of any of our Mass Market products HERE!


Hanesbrands: Best Idea Short Conference Call | $HBI

Editor's Note: Our Retail team is hosting a Best Idea short call on Hanesbrands with institutional investors today. Email sales@hedgeye.com for more info.

 

Hanesbrands: Best Idea Short Conference Call | $HBI - z hbi

SOME KEY DISCUSSION POINTS:

  • Hanes has top share in a slow growth category.
  • Feeling competitive pressure at high-end (Tommy John, Under Armour, Lululemon) and low-end (Gildan) = negative organic growth. The latter is particularly under-appreciated.
  • Capacity utilization at owned factories is at peak (90%+). People do not realize this as it is not readily disclosed.
  • Margins at peak 15.5% -- higher than Nike (not a direct competitor, but the comparison is telling). Trough margin  is 8-9%. It will see that level again.
  • As growth slows, doing deals at peak earnings and multiples to goose perceived/reported growth.
  • Latest deal is a non-scalable underwear company in Australia. They don't have our call that Australian economy faces a massive headwind as consumers run out of financial assets to draw upon to fuel consumption.
  • HBI takes more special charges than any company we've seen in retail. Strips out all investments to take up margins and get management paid.
  • Management selling/stepping down.
  • $5 upside, $15 downside.

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