HAM MEDIA
VIDEOS
MUSINGS OF A MARKET PRACTITIONER
COMMENTARY
Process Gives You Precision
By Sam Rahman, Portfolio Manager
November 20, 2025
A ballet dancer will practice for hours to ensure her hand movements flow effortlessly at just the right angle and height. As audience members we may not appreciate it but to the dancers, every small move matters. Tom Brady, likely the last of the great pocket and timing passer to play QB, studied game tape for hours to better understand how to beat the defense he was playing.
Less Is More
By David Salem, Portfolio Manager
November 14, 2025
Ever heard of Buckminster Fuller (1895–1983)? I hadn’t either—until a Middlebury professor asked me to take this great man to dinner before his speech at the college chapel. I don’t remember much about that long-ago evening, except Fuller’s conviction that the world would be better off if everyone embraced his creed: “less is more.”
Numbers Over Noise
By John S. McNamara III – CIO, HAM
October 30, 2025
“Make noise! Always be making noise!” – Head Trader at Bulge Bracket Investment Bank That quote comes from the trading floor of what was then one of the world’s largest and most influential global investment banks. A quote I heard countless times at the beginning of my career on said trading floor regarding engaging with clients. Please excuse my borrowing of Keith’s Early Look opening format, as I couldn’t resist, given my frequent use of that statement to contrast Hedgeye’s approach with that of The Old Wall over the years.
Welcome To The Machine
By R. Patrick Kent, Portfolio Manager
October 24, 2025
What a week. I suspect there will be a lot of early departures this afternoon to touch grass or have a drink or whatever you do to unplug. When you have been at this for 25 years, like me, you recognize the emotional toll performance can have on you in times of market turbulence. I've been an analyst and portfolio manager for almost all of that time and a Hedgeye client for fifteen years.
AI Bubble? Why Predictions Are Dangerous, But Signals Matter
By Sam Rahman, Portfolio Manager
October 2, 2025
There’s a lot of bubble talk right now - “The stock market is overvalued and is in a bubble, and particularly, AI is a bubble. And that’s bad!”
Mileage Matters: Experience From the Road
By Sam Rahman, Portfolio Manager
August 12, 2025
I love movie quotes. This is one of my favorites as it perfectly captures how I feel about my 30+ years in this industry. While the years past have become a blur, I “feel” the mileage.
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Hedgeye Asset Management, LLC (“HAM”) is an SEC-registered investment adviser that manages exchange traded funds (ETFs) and provides model portfolio and index services to other registered investment advisers. HAM is a subsidiary of Hedgeye Risk Management, LLC. For more information about the ETFs, strategies, research or HAM, please visit www.hedgeyeam.com or email info@hedgeyeam.com.
DISCLOSURE
This information is adviser marketing and market commentary, and neither tailored nor specific investment advice, nor an offer to sell, or a solicitation of an offer to buy any investment product, security, or services offered by Hedgeye Asset Management, LLC (“HAM”) or its affiliates. HAM and its affiliate, Hedgeye Risk Management, LLC (“Hedgeye”), issue market research which may differ from the strategies and products due to varying objectives and parameters. HAM does not provide legal or tax advice. Investors should make their own decisions regarding any investments mentioned, and their prospects, based on such investors’ own review of publicly available information, including fund prospectuses, and should not rely on the information contained herein. Investors should consider investment objectives, risks, fees and expenses carefully before investing. Certain information contained in this document may constitute “forward-looking statements.” Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements.