Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Seriously, get a hold of yourselves, take a deep breath, and carry on with your patient and diversified Full Investing Cycle portfolio that doesn’t give a damn about our returns being called transitory. Let’s call these returns REALIZED.

To be clear, I lost money yesterday. My MFO’s (Mucker Family Office) main long/short account lost 32 basis points of my family’s hard earned capital. If I was a Tourist, It would have been a LOT worse. Realized Alpha yesterday was highlighted by:

  1. Commodities (CRB Index) INFLATION closing at a new CYCLE HIGH
  2. Energy Stocks (XLE) INFLATING another +0.5% to +38.6% YTD
  3. Short Duration (TLT), Gold, and Utilities (XLU) getting you paid on the short side, again

Oh, but your favorite story stocks got plowed… I feel so bad for you…

I didn’t hear anyone complaining and/or whining about their super fav story stocks from NOV-FEB. But now? OMG, look at those charts. They’re “breaking down” vs. a 50-day Moving Monkey!

Seriously, we all have issues with our stock picks. Deal with them.

CHART OF THE DAY: Inflation | 3rd "Surge" Of #FullCycle Investing - Chart of The Day 5.13.2021