Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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What’s the latest (factual) data on ABC? A) ISM Services (in our GDP nowcast) #accelerated to 58.7 in JAN vs. 57.7 in DEC What if GOOGL’s Pod 1 Revenue Growth didn’t #accelerate to +45% year-over-year growth? A: whoever “de-grossed” their position in the name at last week’s #oversold US stock market lows would have looked like a bloody genius. I get it, they’re all “smart.” Certainly on paper, most of them are a lot smarter than me. Those are facts too. My lowest SAT score @Yale was #timestamped! But what about Street Smarts? Last I checked you don’t get to charge a premium asset management fee for having counterfactual returns and monthly drawdowns that make the one Gold is having look like alpha generation. |
