Hedgeye Risk Management, LLC

Join Hedgeye Digital Assets analysts Joshua Steiner, Ishmael Asad?and Christian Drake for a must-watch Crypto webcast on Tuesday, November 26th, at 11:00am ET. Bitcoin has skyrocketed ~40% in the past month, hitting new all-time highs and nearing $100,000. With crypto-friendly policies from Trump poised to shake the economy in January, what’s next for this historic bull run? Our expert analysts will break down everything you need to know to navigate the crypto markets with confidence and capitalize on the opportunities ahead.

There’s an old commercial I remember from when I was a kid about E.F. Hutton: “When E.F. Hutton talks, people listen.” That perfectly describes my friend and colleague David Salem. When David speaks, it’s not just talk—it’s valuable insight, perspective, and experience. Investors would be wise to pay (close) attention...

David Salem is one of Wall Streets finest… extremely cerebral and well thought out! He knows the industry like the back of his hand Coupling his expertise with Hedgeye Risk Management, LLC intermediate market signals, was a no brainer When he’s speaking, it’s most often timely and important!

This excerpt is from a recent Bloomberg interview featuring Hedgeye's Director of Capital Allocation David Salem with Tom Keene. FEDERAL RESERVE/MONETARY POLICY "I don't think the Fed's mandate is sufficiently clear. With the utmost respect, they are just making it up as they go. They are making up not only the mandate, but the means that they employ to pursue however they define the mandate. That's because their mandate from Congress is insufficiently clear. So, you asked me 'what should the Fed do?' I don't think anyone can honestly answer that question. ...I think the Fed ought to be very, very careful about cutting rates too quickly. ...It's going to be very difficult for the Fed to move this gigantic supertanker called the 'U.S. Economy' towards inflation anything close to the target over the next year. And that suggests that they ought to be very measured and patient in further reductions of the policy rate. INVESTING IN CHINA "My strong views on China are limited exclusively to the perspective of a Chief Investment Officer, someone stewarding a large pile of money. I've held these views for a very long time. When you're allocating capital and taking risk, you obviously want to be cognizant of what it the worst case for the risk taking, and what's the best case for the upside. When you do that with publicly traded companies in China, as distinct from private equity in China, I don't see an upside that is even remotely close or commensurate with the downside. And the downside we saw obviously with Russia's invasion of Ukraine, where either through fiat regulation or law, or just by market movement, basically your wealth gets taken away or at least confiscated for a time period. You get wiped out. So the expected return has to be very high, and I don't think you see that in publicly traded Chinese companies." IRRATIONAL EXUBERANCE ? "I actually think in important respects it's what we might call 'rational exuberance.' The market is starting to discount policy changes. I think probably the single most important policy change that might affect the trajectory of the U.S. economy and in turn the global economy over the next few years--doesn't emanate from the White House or Congress--it emanates from the Supreme Court with the recent Chevron Doctrine decision that basically said to the independent agencies: 'You don't have as much power as you've had in recent decades, you need to go to greater lengths to justify anything that you're doing... That could be very productive of stimulus to growth. That's why I say some things that are going on in the markets today strike me as rational, rather than irrational, exuberance." *****If you'd like to learn more about David's research offering email Emma Vlasic [email protected]

"The machines are definitely smart enough," explains Jim Rickards, Wall Street veteran, bestselling author and former Department of Defense advisor to Keith R. McCullough. "I mean, people have Alexa, Siri on the dashboard, your iPhone, Alexa's in your house, you know, "Alexa, turn down the lights." We anthropomorphize inanimate objects, we give them human characteristics for whatever reason. Some of it's harmless, Like 'Winnie the Pooh' is actually not a person, but children think of Winnie as a person. That's fine to stimulate your imagination, etc.. But we have the same thing with Alexa. It's definitely a female voice. It's very comforting. It's very reassuring and all that. And we start treating Alexa as a friend. First of all, it's not your friend. Secondly, it's all math. When you do the deep dive in artificial intelligence and you're into layers and nodes and edges and weights and all the things that actually go into it, I built AI systems, it's all math. But it's not your friend. But we tend to give it these human attributes. the same thing applies in, well, I make the point in the book, in the stock market, nuclear war fighting, etc., we tend to trust the system when we shouldn't trust it. You have to understand how it actually works." WATCH THE FULL INTERVIEW FREE HERE: https://lnkd.in/exh8z5i4

Join Hedgeye Founder and CEO?Keith R. McCullough?for an exclusive webcast on Tuesday, November 19, at 11:00am ET, as he hosts Wall Street veteran, bestselling author and former Department of Defense advisor?Jim Rickards?in an in-depth discussion on the critical forces shaping today’s financial landscape. Keith and Jim will tackle the profound implications of Trump’s return to the White House, exploring how his policies and personnel will reshape the market and economic outlook. This discussion will provide investors with actionable insights into fiscal and monetary policies amid this era of heightened uncertainty. With a focus on what’s essential for investors right now, they’ll examine shifting policy landscapes and the hidden risks and opportunities facing investors.

Last week David Salem and I covered the waterfront - pharma, agriculture, consumer staples and even media - on the nomination of Robert F. Kennedy Jr. to SecHHS. Love him or hate him he is part of our investing reality. PPV Link here: https://lnkd.in/e47EjMhF

"One of the biggest potential endorsements for bitcoin, and a likely catalyst for its price, would be central banks adding bitcoin to their reserves alongside gold. This idea might have seemed improbable weeks ago, but it’s now within the realm of possibility, given the new administration’s apparent support for bitcoin’s sound money principles." -- Our Director of Research Daryl Jones in a new MarketWatch commentary he wrote about Bitcoin and gold. https://lnkd.in/eeUdVdD8

Here's a little taste of six actionable stock ideas from six of our analysts on "The Pitch" hosted by Hedgeye CEO Keith R. McCullough. Click here to watch the full presentation for free: https://lnkd.in/eXsQJzfC

Will be talking new geopolitical risks and US-China under Trump II with Hedgeye Risk Management, LLC Michael A. Blum and J.T. Taylor