BREAKDOWN: Hedgeye CEO Keith McCullough on Stagflation, Bitcoin and the Devalued Dollar

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4.7 • 698 Ratings

🗓️ 5 August 2020

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the realest people in financial media joins for a conversation about where the economy really is and where it’s headed. This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today on the Brief: Robinhood doubles quarterly trading revenue Square did $875 billion in bitcoin revenue in Q2 - up 600% YoY ADP report: 167,000 jobs added in July (instead of expected 1.2 million) Our main conversation is with Hedgeye CEO Keith McCullough. Before building Hedgeye into a “no-excuses provider of real-time investment research and a premier online financial media company,” Keith worked at hedge funds including Carlyle Blue Wave Partners hedge fund, Magnetar Capital, Falconhenge Partners and Dawson Herman Capital Management. In this conversation, he and NLW discuss: Hedgeye’s “Full Cycle Investing” approach and GIP (Growth, Inflation, Policy) methodology How the economy was in a period of slowing growth and slowing inflation before COVID-19 How we’ve moved into a stagflation period in response to the money printing prompted by the crisis Why bitcoin, gold, emerging market stocks and commodities are likely to thrive in this environment Why most narratives are BS Why the “Old Wall” media distracts rather than educates Check out our guest online: Website: Hedgeye.com Twitter: @KeithMcCullough See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:49.8	The people figure out systematically that things are inflating because they're paying the price of those
0:55.1	things, whereas investors, or people like me, already front run them. You know, that's the whole point.
1:00.5	You've got to get long inflation before the people at large realize it. And that by the time some
1:05.1	government guy, central planning gal, by the time they tell us that inflation's here, you know,
1:10.2	the investment opportunity to have been long commodities or Bitcoin for that matter is way in the rearview mirror.
1:16.6	I don't think that the gold price and the Bitcoin price in particular are validations that great central market plannings are working.
1:24.6	I think that they're telling you it's the beginning of the end of an
1:28.0	establishment in a regime like the Federal Reserve.
1:31.9	Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the
1:39.0	big picture power shifts remaking our world. The breakdown is sponsored by Crypto.com, Bitstamp, and nexo.io, and produced and distributed by
1:48.3	CoinDesk.
1:51.8	What's going on, guys?
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