PROTECT THE PILE
Hosted by veteran Portfolio Managers from Hedgeye Asset Management (HAM), “Protect the Pile” blends smart discussion with actionable market insight. Each episode cuts through the market noise to spotlight real risks and opportunities. No nonsense. No Old Wall spin. Just disciplined investing focused on protecting and growing your pile.
LATEST EPISODE | "It's the Liquidity, Stupid"
May 8, 2026 In this episode, Patrick Kent, Sam Rahman, David Salem, and John McNamara tackle a market that refuses to crack despite geopolitical shocks, oil disruptions, rising rates, and unresolved risks. The crew debates whether this is the most stressful investing environment in years, why liquidity and passive flows keep overpowering fundamentals, and how today’s market structure is reshaping every decision. They dig into the potential SpaceX IPO, the role of forced buyers, private-market valuation pressure, and what AI giants like OpenAI and Anthropic could mean for public markets.
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ABOUT US
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.