Editor's Note: Below is a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more about the Early Look.
|
We got a lot of pushback on this #UnderweightEM call when we started making it in January. One prospective client in LA didn’t like our view at all (he was long lots of Brazil). He kept asking “but how do you know the data is going to slow”, so I kept asking him how he knew it wasn’t? Our #process, of course, refreshes the answer on whether GROWTH and/or INFLATION is accelerating or slowing every day. That’s why last week’s move in Brazil should have surprised no one who is dispassionately data dependent. The real #GrowthSlowing data in Brazil and Mexico in particular has been readily apparent for months now. |
