Editor's Note: Below is a chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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We don’t care about someone’s opinion on something being a “good or bad” quarter; we care about accelerations and decelerations... ...The ROC of Financials PROFITS peaked in Q3 of 2018 because that’s when US GROWTH and INFLATION peaked. Period. Yeah, the stocks bounced from #oversold lows in late December, but ultimately the stocks were discounting the beginning of #EarningsSlowing and probably won’t stop doing so until they have to lap their #PeakCycle +30.6% y/y growth rate. So even if you call them “cheap” I’m staying short these suckers |
