Hedgeye Podcasts "A Gothic Horror In The Middle of a Pretty Good Time" | Protect The Pile: Episode 6
14 snips
Feb 7, 2026 
Neil Howe, historian and author of The Fourth Turning, brings generational perspective to markets and geopolitics. Conversations jump from AI’s narrowing practical uses to a dramatic crypto crash and stablecoin debates. He flags a secular dollar decline, European defense risks, and how politics and populism could reshape capital allocation.
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Shifting Sails Toward International Markets
- Hedgeye's model portfolios are now increasing non-U.S. exposure across Japan, Korea and Latin America.
- The team expects international cyclicals to benefit as global quads look benign.
Momentum-Led Pullbacks Signal Positioning
- The recent sell-offs have been led by crowded momentum and growth factors, which often rebound after degrossing/regrossing.
- This suggests positioning and flows, not fundamental breaks, often drive short-term vol spikes.
AI Winners Need Three Pillars
- AI hype is narrowing from a universal revolution to focused, monetizable cloud/business applications.
- Anthropic's business model highlights that only firms with infrastructure, unique data, and distribution will profitably scale AI.
