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    A Decade of Revolution Declare Your Research Independence

Editor's Note: Below is a chart (and excerpt) from today's Early Look written by Hedgeye CEO Keith McCullough.

CHART OF THE DAY: The 2 Most Causal Factors Affecting Market Returns - zz2

Once you understand that GROWTH and INFLATION are the 2 most causal factors affecting market returns, you come to realize why only knowing the ROC of those 2 words matters more than any unique thought you might think you have in your head. 

I don’t know about you, but the scariest thing I can do to my own money is think about what could or should happen in both the global economy and markets without having counted the numbers with my entire team counting at the same time. 

I’m not alone. Ask Ed Thorpe how he’d probability-weight his blackjack bets without counting the cards as they appear. 

CHART OF THE DAY: The 2 Most Causal Factors Affecting Market Returns - 12.06.18 EL Chart

CHART OF THE DAY: The 2 Most Causal Factors Affecting Market Returns - early look