Brian McGough

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Hey $KSS...Thanks for showing up today. You 'beat the quarter'. Golf clap. Comp missed. GM missed. Made the FCF number by cutting SG&A and Capex. Basically burning the office furniture. Extended payables -- vendors working with you to stay alive -- until the don't. $NKE will be the first to pull. Then you file...

📈 Upcoming Events @Hedgeye Jan 12: @HedgeyeTech & @HedgeyeChips $SE & $AAPL Update Jan 14: @HedgeyeGLL Hotel Deep Dive $PK, $HST, $PEB, $XHR, $DRH, $RHP, $MAR, $HLT, $H, $WH, $CHH Jan 16: @HedgeyeIndstrls Dover Corp $DOV Long Black Book Jan 16: @HedgeyeHC HCA Healthcare $HCA Short Black Book

Hedgeye Asset Management Earns Two Nominations for ‘Best New ETF’ in 2026 ETF. com Awards The nominated funds are: $HECA – The Hedgeye Capital Allocation ETF (Best New Multi-Asset ETF) managed by @dsaleminvestor $HEFT – The Hedgeye Fourth Turning ETF (Best New Alternatives ETF) co-managed by @HoweGeneration and @RPKent app.hedgeye.com/insights/17645…

$HELE Helen Of Destroy out with another punk quarter. Organic sales down 10%. Trouble brewing in China. Cut guidance again. We shorted this at $120 with a $5 price target. Stock struggling to hold $20 this a.m. Sticking with this one...

🚨 The Fourth Turning Portfolio: How to Invest Through Today’s Chaos with the New HEFT ETF America is in a period of disorder that renowned demographer and bestselling author Neil Howe @HoweGeneration has spent decades forecasting. In this new "Real Conversation," Hedgeye CEO @KeithMcCullough sits down with Howe and his Hedgeye Asset Management @HedgeyeAM co-portfolio manager R. Patrick Kent @RPKent to explain what today’s chaotic environment means for investors—and why they launched the Hedgeye Fourth Turning ETF $HEFT. Howe outlines the defining forces driving the Fourth Turning: polarization, institutional breakdown, geopolitical tension, and mounting economic strain. Neil and RPK connect these generational dynamics directly to today’s market landscape, detailing the sectors, themes, and types of companies they believe are positioned to benefit as this cycle intensifies. They also walk through the key stock ideas and industry groups shaping HEFT’s construction—grounded in a disciplined, rules-based investment process. If you want to understand the era we’ve entered—and how to position capital with clarity and conviction through the turbulence—this is a conversation you don’t want to miss. ***To learn more about Hedgeye Asset Management please visit hedgeyeam.com, or email info@hedgeyeam.com.

So $LULU finally fires CEO, which is why the stock is up. I get that. We've been making the 'fire Calvin' call for over a year. But what the market misses here is that new CEO will have to re-base numbers by at least 30%. That sends the stock closer to $100. We shorted it at $470, and are staying put.

This image of $WRBY price targets is laughable. 10 of them are below current stock price. We're either going to see downgrades, or an upshift in targets. I'm assuming the latter, but even the most bullish Old Wall analysts will come out at $50 tops. We're at $500.

Long-standing short idea #OXM -- Oxford Industries -- down 20%+ after yet another guide down. We've been short since ~$100 (now at $32 -- #alpha). If you've been listening to The Call, you've heard the dialogue between me and @KeithMcCullough about how "The Mall Is Crushing It". For OXM to puke yet again in that context tells you something major about the sad state of this company.

I absolutely LOVE the influx of $WRBY bears hitting me since our call. I have yet to hear an argument that shakes my conviction that this stock is going to double, then double again, and again, etc...

Our $WRBY 'buy with impunity' call said on Friday afternoon that it is a 10-bagger. That was premature. By the time we got done with some of the best modeling work and research I've ever seen (props to Ian Lukasik and Luke Eissler), we arrived at this name as a 25-bagger by the time we presented our case this morning. Yes, Our call is that this will be a $500 stock in 5-years. Let's go!!!

Best Idea Short $OLLI missed on comp -- +3.3% vs 4.1%...and that's after the company called around to Old Wall and talked down comp estimates toward the end of the quarter from 7%. This was an extremely easy base effect...with a strong business cycle for off-price. This company -- if it was performing as it should -- should be comping 10% or better. Stock will be 50% lower over 1-2 years.

CALL INVITE -> $WRBY | 5-Year 10-Bagger That Starts In 2026 app.hedgeye.com/insights/17514… via @hedgeye

CALL INVITE -> $WRBY | 5-Year 10-Bagger That Starts In 2026 app.hedgeye.com/insights/17514… via @hedgeye

Wanna know why $WRBY is +10% this morning? Ask @Hedgeye

HEFT Is Live: The Hedgeye Fourth Turning ETF (NYSE: HEFT) is now live! The strategy is managed by Hedgeye Asset Management (HAM), a subsidiary of @Hedgeye, under renowned historian, economist, and demographer Neil Howe (@HoweGeneration), and veteran global equity investor R. Patrick Kent (@RPKent). $HEFT seeks long-term capital appreciation by investing in equities and thematic exposures aligned with the Fourth Turning’s generational, demographic, and cyclical forces. The Fund employs Hedgeye’s quantitative macro models alongside fundamental and thematic insights from Howe and Kent. For important information about the fund, please click here hedgeyeam.com/HEFT, or email info@hedgeyeam.com for more information.

WATCH | @KeithMcCullough's Playbook for #Quad4 December—and the Setup Ahead 📊 Live at 11:00am ET. Also available on-demand Click for complimentary access. app.hedgeye.com/insights/17470…

🚨 BLACK FRIDAY IS LIVE AT HEDGEYE! These are best prices of the entire year. Existing subscribers: Upgrade your access at massive savings. Buy low on the research that’s kept you ahead of markets. New to Hedgeye? Start off strong with special introductory offers on our most popular research products. Get Your Deal → app.hedgeye.com/su/x-black-fri… Don't wait. These are available for a limited time.

Monster print by $REAL. Best Idea Long. We went long at $1 with a call for a $20 stock. Admittedly, this quarter was concerning me. If I was running a book I'd have peeled some off heading into this one. That would have been the wrong move. Lo and behold, it annihilated numbers and guided up materially. @KeithMcCullough -- score another one for The Signal.

Join us in wishing a very happy birthday to the one and only Bob Rich!! For over a decade, our talented cartoonist has been bringing smiles and laughter to people at Hedgeye and around the world. We couldn’t be more grateful for him! 🎉