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

CHART OF THE DAY: Are Your Friends Down -20% YTD? - zrc

If you have friends who are down -17.7 to 22.3% YTD, they obviously didn’t have the Quad 4 Edge embedded in their market expectations. If you have friends who sold all of their Long Tech exposure pre the NASDAQ crashing -21.9% from AUG, they crushed it. 

That’s right. Some people absolutely crushed it this year by simply being data dependent. You could have stayed long US Growth, Momentum, and High Betastocks for the 1st 7-8 months of the year, then re-allocated all of those gains into Treasuries: 

  1. UST 2-year Treasury Yield dropped another -9 basis points last week to 2.64%
  2. UST 10-year Treasury Yield dropped another -10 basis points last week to 2.79%

CHART OF THE DAY: Are Your Friends Down -20% YTD? - Chart of the Day