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Below is a brief excerpt transcribed from Friday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.

McCullough: Hertz → History Will Not Look Back Kindly On This Period - 6 12 2020 11 33 30 AM

What happened yesterday in the sectors? Everybody was a loser!

In almost every sector. Look at the sectors on the chart below.

McCullough: Hertz → History Will Not Look Back Kindly On This Period - 6 12 2020 11 30 41 AM

Is that the damndest bull market I’ve ever seen?

Take a look at the YTD column. I mean we have some bubbly-ness in Tech with a bit of a bullish Hedgeye trend. But is this a bull market?

No.

This is a bullsh*t market where people are buying Hertz when it goes from 1 to 5 to back to 2 and Wall Street will issue a billion whatever dollars on that.

Understand what’s going on here. History will not look kindly back on decisions some people make here.