Hedgeye Podcasts
Hedgeye Risk Management
Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice.Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved. For more information, and to subscribe, go to www.hedgeye.com.
Episodes
Mentioned books
Dec 19, 2025 • 1h 7min
Japan Dreams & Data Center Reality Checks | Protect the Pile: Episode 4
David Salem, a portfolio manager with expertise in macro research and Japan, joins Sam Rotman, who focuses on technology investment themes. They dive deep into Japan's rising rates and corporate governance, highlighting its implications for international investments. The duo also explores the profitability landscape of data centers and the emerging challenges of AI infrastructure spending, comparing current trends to the dot-com bubble, all while discussing the dynamics of global liquidity and capital allocation.
Dec 17, 2025 • 1h 4min
Ep.133 Real Conversations → Inside Credit: Rates, CLOs, and the Next Phase of the Cycle w/ Ross Burnaman
Join Ross Burniman, Director at Eldridge Capital Management, as he dives into the intricate world of credit markets. With his expertise in structured credit, Ross simplifies the complex structures of CLOs and their unique resilience features. They explore how rising interest rates affect credit performance and dissect macro risks using real-world case studies for clarity. Learn why CLOs may offer a safer haven compared to traditional bonds and the potential pitfalls of investing in AI startups. A must-listen for anyone interested in savvy credit strategies!
Dec 8, 2025 • 1h 8min
Hedgeye NexGen | Episode 27 | Inside Portfolio Management (w/ R. Patrick Kent)
R. Patrick Kent, known as RPK, is a portfolio manager at Hedgeye Asset Management with a rich background in healthcare analysis. In this conversation, he shares insights on opportunistic investing and the vital role of understanding rate of change in financial markets. Kent discusses his journey from healthcare analyst to portfolio manager, emphasizing the importance of modeling for business dynamics. He also delves into the impact of AI on idea discovery and offers valuable skills for young investors navigating today's markets.
40 snips
Dec 6, 2025 • 1h 5min
"Phase Two of AI: Who’s Got Staying Power?" | Protect the Pile: Episode 3
Fernando Valle, Hedgeye’s Energy Sector Head, dives deep into the dynamics of natural gas and power demand revival after years of stagnation. He discusses the implications of grid underinvestment and how AI's growth is driving energy needs. Valle also distinguishes between weather-driven price spikes and the emerging higher baseline for natural gas. His insights on preferred equities in the Haynesville region and the landscape of LNG exports reveal key market opportunities. Plus, he highlights the role of demand in shaping commodity cycles.
Nov 26, 2025 • 49min
Hedgeye NexGen | Episode 26 | Trumponomics & Recent Inflation
Join food analyst Ben as he dives into the realities of inflation in America. They dissect Trump's claims about food and energy prices while exploring the mixed signals in food inflation. The discussion highlights the declining happiness of young Americans due to housing unaffordability and stagnant wages, alongside trends in the restaurant sector. Tune in for insights on how past stimulus checks have impacted inflation, and the implications of potential tariff dividends on future economic stability.
Nov 25, 2025 • 1h 5min
The Best of Hedgeye: Bent Hunt → A Day Of Reckoning Coming?
Ben Hunt, co-founder of Epsilon Theory and former hedge fund manager, dives into the shifting landscape of capital markets, arguing they now serve political utility more than economic productivity. He shares insights on the fragility of current financial systems, anticipating stagflation as his base case driven by expansive fiscal policies. Hunt emphasizes the importance of community engagement for lasting change and explores the power of narratives in shaping market movements. He also discusses the precarious status of the U.S. dollar and the need for humility in geopolitical actions.
Nov 19, 2025 • 1h 15min
Ep. 132 Real Conversations | Jim Rickards: Gold, Chaos and the Great Reckoning Ahead
In this discussion, Jim Rickards, bestselling author and macro strategist, dives into the dynamics of gold as a hedge against chaos and inflation. He explains why gold could soar beyond recent highs and debunks common myths around debt debasement. The conversation touches on the contrasting participation levels in gold markets globally, especially between the U.S. and Australia. Rickards further explores BRICS' role in gold settlements and discusses the implications of central banks hoarding gold as a safety measure in uncertain times.
Nov 15, 2025 • 1h 11min
"Two-Day Market Hyperventilation" | Protect the Pile: Episode 2
Bennett Cheer, Hedgeye's restaurants analyst, brings invaluable insights on the consumer landscape, particularly in the restaurant sector. He discusses current traffic challenges, highlighting the importance of innovation. The conversation dives into market volatility and liquidity stresses driven by government actions and Fed expectations. Cheer also touches on recent mergers in the restaurant space, implying both opportunities and risks. The analysis of consumer spending trends reveals generational shifts, prompting a critical view on investment allocations.
Nov 4, 2025 • 59min
Stagflation to Goldilocks: 7 ETFs to Front-Run the Move & Profit
Markets are shifting rapidly from Stagflation to Goldilocks, and many investors may miss this key transition. Keith McCullough highlights seven high-conviction ETFs across major asset classes to capitalize on upcoming opportunities. He discusses the importance of risk management, tracking market structure, and the Quad model for asset allocation. Special insights include bullish signals for copper and healthcare, as well as a strategic focus on global water investments. Tune in for actionable advice on navigating these evolving economic conditions.
Nov 1, 2025 • 1h 6min
Protect the Pile: A Hedgeye Asset Management Podcast | Episode 1
The hosts dive into the surge in AI spending, examining whether this financial boom is sustainable or just circular financing. They discuss the potential breakout of small caps thanks to expanding AI infrastructure. A surprising take on credit market risks highlights hidden dangers, while a reality check on market volatility offers insights for positioning. With anecdotes from their experiences, they emphasize long-term thinking in investing and the need to adapt to shifting technology landscapes.
