Hedgeye CEO Keith McCullough is adding Chef's Warehouse (CHEF) to the short side of Investing Ideas. Below is a brief note. 

Looking for low quality names that have bounced on #decelerating volume alongside HIGH SHORT INTEREST as a Factor Exposure?

Our Restaurant Analyst Howard Penney still likes Chef's Warehouse (CHEF) as a #Quad3 Short. Here's a summary excerpt from a recent Institutional Research note:

"CHEF is an over-valued foodservice distribution roll-up story who’s better days are in the rear-view mirror.  Since the beginning of 2012, CHEF has acquired 10 businesses and operating margins have gone from 6.0% to 3.2% over the same period."

Short the bounce,

KM