Below is a note from Hedgeye CEO Keith McCullough on why we're removing Citizens Financial Group (CFG) from Investing Ideas today:
"With the US stock market making yet another series of all-time highs this week, I think it’s prudent to take down the number of long ideas we currently have in Investing Ideas relative to shorts, and focus on riding the winner’s we’ve had (while getting rid of some under performers).
Bank stocks in particular are better to buy when long-term US Treasury Yields are at the low-end of what I see as an intermediate-term risk range for the UST 10yr of 2.06-2.35%. I may very well come back to this name as our analyst, Josh Steiner, still likes it."
