• Hedgeye Investing Summit: A Special HedgeyeTV Webcast Event

    The sharpest minds in investing discuss the most important market and economic developments and their investing implications. Join Hedgeye CEO Keith McCullough and our special guests live from October 14-16.

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

As anyone who is a student of economic and market cycles knows, when The Cycle starts to slow, the most LEVERED and PRO-CYCLICAL “investments” get hit hardest first. Then the rest follows… and the Old Wall starts begging the Fed for a bailout.

Obviously most of the “private” stuff isn’t marked-to-market and seeing real-time price discovery, but even from a liquid public equity market Factor Exposure perspective, where NOT to be at this point in The Cycle was very obvious (again) last week

CHART OF THE DAY: Private Investments Have #Cycles Too - Chart of the Day

CHART OF THE DAY: Private Investments Have #Cycles Too - early look