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In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough berates pension funds for turning a blind eye to inflation.

“Pension funds don’t ‘believe’ in inflation. Well, who’s that terrible for? The pensioners! They say the market’s wrong? No, you’re wrong!” exclaims McCullough, as he highlights how pension funds’ poor investing will leave pensioners worse off.

“There’s one way that you can outrun inflation, own it. Pension funds should have owned inflation.”

McCullough: “Pension Funds Should Have Owned Inflation” - market brief