|
Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough. |
Lets look at the Financials this morning. What a disaster!
Just take a look at this mess. The Old Wall is getting CRUSHED!
These are the largest financial institutions. They're the establishment. On a big market up day (NASDAQ being up +1.6%) Financials were down -0.8% and crashing from a year-to-date perspective. That happened as the U.S. Dollar continued to crash and burn, as the Federal Reserve debauches the American people's purchasing power in an effort to get stocks up.
This is Long/Short Alpha in your portfolio because your shorts (Financials) are going down and your longs (Tech) are going up.
Meanwhile, as the Dollar crashes and burns, Bitcoin is heading towards $11,000 this morning.
Wall Street isn’t long Gold, Bitcoin, Silver, or Gold Miners.
They’re long the Financials because they’re cheap!
