Editor's Note: This is an excerpt from today's Early Look. Click here to learn more.
The search for Alpha starts with fishing in the right ponds. Or in money management speak, allocating to the right sectors. When we started a decade ago, not everyone saw the importance of macro but now, increasingly, most savvy stock market operators have it as part of the process. This is also likely why Macro is our largest business (that and the insane amount of time my colleagues Keith McCullough and Darius Dale spend on the road).
To further supplement our Macro product, we introduced Hedgeye’s Top 10 Ideas. These are ideas that Keith selects from a portfolio manager's perspective, based on rigorous factor screening, from our substantial bench of bottom-up ideas that our research team is generating. In the chart of the day, we’ve highlighted the current Top 10 ideas. News flash : we have more shorts than longs at the moment.
