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While stock market bears are searching for any reason to short the U.S equities, Hedgeye CEO Keith McCullough has another idea.

Short Europe instead.

He’s been bearish on Europe since the summer.

In particular—Germany. It’s been looking bearish with both GDP and inflation beginning to roll over as fourth quarter data is released.

“The main reason we don’t like German stocks is because you have both growth and inflation slowing in our forecast for the foreseeable future,” McCullough explains in the above clip from The Macro Show.

On a related note, earlier this week, it was reported that Bridgewater—the world’s biggest hedge fund firm—more than quadrupled how much it’s betting against European Union companies. It has over $13 billion active shorts on European stocks.

So, if you’re itching to short something, stick to Europe for now.

Watch the clip above for more.

McCullough: Short Europe - etf pro