Editor's Note: This is an excerpt from The Macro Show this morning hosted by Hedgeye CEO Keith McCullough.
A lot of people in the hedge fund business apparently can’t make money in a down market. That’s never been my problem.
I’ve got a lot of issues, but that’s not one of them.
Look at me—I tipped the scales this weekend at 193! That’s not good, that’s a problem. So, I’ve got problems—but one of them is not making money in a down market. I love making money in a down market. That’s always been my specialty. Even though it was fun to be bullish for quite some time.
Look at the sectors below. Rancid.
Just horrendous returns for Quad4 in almost everything other than Utilities, Consumer Staples and Real Estate. Our playbook told you to get long exactly that. Hopefully you stayed with the our process and you’re crushing it right now.