Haters be hating. What about all the other companies that took PPP loans? The airlines that took Billions in government money after using Billions to buy back shares? Why didn't they save the money for a rainy day? Why do so many American businesses use debt financing to lever up their balance sheet but never consider having a cash cushion like Microsoft or Apple? Why were so many stimulus checks sent to dead people or fraudulent claims paid out all at the expense of taxpayers. Ever consider how much in taxes Hedgeye or Keith has paid? In my opinion he's just getting his tax money back just like everyone else has including you! If that loan means he kept everyone on payroll then he did what he was suppose to do - keep people employed.

I'm critical of McCullough because of various parts of his personality and I think insecurities being Canadian, but I'll also defend him here. It's hard to blame people to use the system to their advantage after they've been abused by it - you're just a sucker if you don't play the same game everyone else is. As Thomas says you can't hold him to a different standard, just because.

I think you make a fair point. It's not a moral issue but a credibility issue.

Hard to blame someone for taking free govt money. Clearly the PPP program was poorly implemented with many businesses needing money and not getting it and other businesses doing just fine getting free dollars. I hate the argument "they are just getting a refund of taxes paid in the past". This thought disregards that we have a cost to running this nation and businesses get to do business in the best country (legal framework, infrastructure, work force) in the world. So to suggest that anyone that has paid taxes in the past deserves them all back is just an indirect support of MMT and that nobody should pay taxes to support the operation of the country.

wow

Darius has railed incessantly against "Wall St. Socialism." If this is true about PPP, he needs to explain himself.

He did not. $TLT is gaining momentum though. It may soon start heading higher

TLT gaining momentum??? On which chart?

...and which direction?

He must be down even more than myself since the price of these TLT call options was and is still going down since I bought some... Based on the way he pitched the idea, he did not seem to have the highest conviction in this trade and I sized my position accordingly (sub 1%). Raoul seemed to hope for TLT @ 200 by the expiry date though.

I had the feeling when he mentioned those trades that he had been checked out of reality and was waving at us from on board the BTC bandwagon (sorry, bullet train)...but being RVpro a (somewhat, hopefully) professional service, he had to come up with something: hence the eurodollar and TLT bets.

I posted the short ZN, short dollar, long EM and few others on the exchange a while ago.

According to Hedgeye that’s totally opposite. I would buy calls on XLK XLE EMs he listed and get all you money back. So happy I got their service. Legit had to unload gold to bring my whole account above par

Short Bitcoin? He never said this. Never ever. This is the result when people don’t pay attention. End of September he sold because according to the process it was the right time to sell. A couple of weeks ago bought it back, again, according to the process. He is long and he basically demonstrates it every damn day.

I subscribe to Hedgeye and can say that no one ever suggested shorting bitcoin. They did say to sell and a week later said to buy it back.

I trust Hedgeye team's calls and their honesty with the confidence level placed on those calls. They flip all around when they are not confident - which is honest. So many contradictions in what I am writing if you interpret it that way but hey, that is finance.

When I have watched Keith interviewed on RV, was impressed. But when I watch the Macro Show feel like I am watching a medicine man pitching product. Guess it works for some but not for me. So have never subscribed.

Same for me, I watched their show a few times and I can't handle Keith's style in his show (it is better when he gives interviews on RV).

Enjoying the Macro Show and Hedgeye entails a lot of douche bag tolerance (Keith). I think it is worth it for the high quality of the content for someone who as trouble buying and holding for years based on a narrative. They have a great record. But not enough for me to pay for the full subscriptions as I'm cheap! Darius is some sort of genius on the other hand - more articulate and informative. Can't get enough of this guy!

Having followed him for 2 years, I've realized Keith & Hedgeye are a great contrarian indicator. Whenever Keith panic sells something that you believe has long-term value, that's generally a phenomenal time to buy the dip. That happened when Keith pooped his pants on long-term treasuries in mid March and sold TLT at the precise bottom, it happened again when Keith/Hedgeye continued shorting stonks all the way through the summer of 2020, it happened again when Keith proudly "sold all his BTC" in September 2020, and again recently when Keith/Hedgeye told their subscribers to sell gold in December and consider shorting it. Bravo Hedgeye!

@ R D - your ignorance is astonishing. In mid March did Keith exit his TLT position? Yes. When everything correlated to 1 meaning stocks and bonds we both going down and the market was in free fall. It's call risk management. You conveniently forgot to mention he was Long TLT since the beginning of 2019 and already had a 50% gain in the position. Oh, and he got back in TLT just a couple week later. Gold - Keith was long gold since beginning of 2019 at least. Again, another 50% gain. Has he been shorting gold and gold miners? Yes at the top end of the risk range (which you know nothing about). Gold's high was back in August and is down almost 100 points since then. Oh and he's been long BTC since he made the call that the US Dollar was turning bearish in November. He's been long commodities, BTC, and short TLT since November. Nice try though!

@Thomas E., are you a Hedgeye troll on Real Vision? I hope so. Otherwise, your comments on this forum border on criminally incompetent.

They make trade calls based on macro, and not look at price action. Any decent trader knows that you can't trade based on macro alone, it is a background to read the economy and the context. I followed them for some time and I sadly have to say that the track record is poor at best in my view. Maybe the calls have some logic but the timing is random. Having said that and as an example, they shorted gold and it went up but I think they will be proven right and we have one more leg down in gold. But shorting it a couple of weeks back makes zero sense, timing in trading is everything.

@Paolo - they have the risk ranges which are based on price, volume, and volatility. If you're bullish you buy SOME at the bottom of the range and sell some at the top. The opposite if bearish. You don't go all in at once which is a lesson I had to learn the hard way. @ R D - you seem to be the troll on here. And you know I'm correct. Hedgeye time stamps all their calls. Just because it didn't work for you doesn't mean it doesn't work for others. I was very happy riding long duration and gold for all of 2019 (like Hedgeye recommended). I was also thankful for Keith's call in February to get out BEFORE the March crash. Does he make mistakes? Absolutely but he owns those mistakes. Is their process perfect? Absolutely not but I haven't found anything better available to retail investors. Oh and he called Quad 4 in Q4 2018 (yet another good call). People like you want 1 or 2 things to focus on. It doesn't work that way. You have to be flexible. If Hedgeye calls Quad 4 but a few week later (after more data comes in) they switch to Quad 3 you have to be flexible and make that pivot. If you don't that's on you not on them! Take some responsibility for your portfolio and don't expect someone else to do it for you. Take the information and make your own decisions. Like I said I've had really good results using the Hedgeye process and I'm getting better the longer I tune in and learn more.

Right...novice investors like the institutions that pay them for their research.

This only really happens on videos that feature Hedgeye guests. For the most part RV viewer comments are generally informative and interesting.

Completely agree. Hedgeye really helps at timing and catalysts for big macro events. We may get deflation and get to go long bonds again, but from a higher price on the US10Y!

I have been a Hedgeye subscriber for 6yrs. Stopped my membership after they claimed they say March 20' coming... Never made me any serious money. At the best, you keep up with the stock market. But then you have to undergo the stress of all the flipping positions and listening to Keith's rants and making fun of his subscribers (newbee's, tryler, etc). Total disrespect for everybody.

not sure if serious.

Agreed Filo.

Nobody and I mean nobody gets it all right in the markets. Companies like Hedgeye (and all the newsletter writers) are good at promoting their correct calls and not their misses. All about the marketing and signing up subscribers. Personally for me, the whole quad thing doesn't work as it is too short term in its structure.

@ Robert M - you clearly haven't subscribed to Hedgeye or you just did the short term free trial they offer sometimes. Keith states plenty of times that he's not perfect. He talks about calls he missed often. He's not trying to be perfectly time the market but to be good enough to help investors catch most of the upside but almost avoid most of the downside. Key word "most" not "all."

How much did they pay you to say that? xD

who cares, its obviously bullshit.

Adam...perhaps we should record you talking and point out all of your repetitive tendencies.

If you did that I could fix it, Thomas E. I thought we could all improve, but it’s guess some of us are perfect... ahem.

I guess that's the difference between you and me. I choose to focus on fixing things that have a much bigger payoff. You choose to focus on fixing things like a word used to often or a phrase used to often. While speech matters it doesn't matter nearly as much as learning a new skill or learning a new perspective which you clearly didn't since you focused on how many times Darius said "the reality is." Don't miss the forest through the trees.

@Adam P, I suspect "Thomas E." is either a Hedgeye troll or (even more embarassing) someone who actually drinks the Hedgeye Kool-Aid.