Some highlights from this weekend’s Event Driven Monitor
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The Event of the Week
Systematic L/S Down -280bps on Fed Day
Pivot or pause is the debate but regardless, this ripper spurred the largest drawdown ever by L/S managers. Just when the pod shops were closing their books for another year of underperformace, JPow throws a wrench into their undeserved bonuses and kills the vibe at their Holiday parties. Seriously, who is allocating to these guys when my Mom has a better 10 year track??
Kuppy’s Tweet of the Week
Oil would need to be negative for sentiment to be worse…
Chart and Kliff Note of the Week
OLPX’s new CEO takes the reins… and though her chances of salvaging this brand are slim, there should be some solid ups if she manages to pull it off. Worth keeping an ear to the ground in the women’s hair care space, or just asking your wife about it every couple of months. The stock is down over 90% since peaked out just over $30 in early 2022.
Friends of KEDM
On a visit down to Puerto Rico, the guys at Marhelm Data stopped in at our office to interview Kuppy for their subscribers. A 7 minute snippetwas posted publicly to Twitter and the full interview is available to Marhelm subs on their website.
- Our friend Paulo Macro is also watching the ridiculously negative sentiment and positioning in oil. He gave some thoughts on what happens if “The Great Destocking” flips to “The Great Restocking.”
Kuppy’s Event Driven Monitor scans over 20 corporate events for market moving information and distills them into our propietary “Kliff Notes.” One profitable trade should more than cover an annual subscription and access to the Event Driven chatroom!