The 'Mother of All Bubbles' popped. This strategist sees a recession coming. - MarketWatch

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Hedgeye CEO Keith McCullough expects the S&P 500, junk bonds and previous darlings like Tesla to slide further. He’s long gold, silver and defensive ETFs.

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COMP -0.27% TSLA +0.10% GLD +0.36% SLV +0.83% PPLT +0.96% GDX +1.02% GDXJ +1.50% SILJ +0.88% BTAL +0.50% ITA +1.52% XLV -0.66% DXY +0.02% SPX -0.07% XRT -1.21% XLY -0.11% AMZN -1.23% BTCUSD -1.00% HYG +0.07% JNK +0.13% DOGEUSD -2.57%

If you think the Federal Reserve wouldn’t dare keep interest rates high and risk throwing the U.S. economy into recession, Keith McCullough would like to have a chat with you. He’s convinced that 2023 will bring a U.S. corporate profit recession and a credit crunch as businesses struggle to obtain financing and pay down debt.

Like many market analysts, the CEO of Hedgeye Risk Management spent much of 2022 criticizing the U.S. central bank for allowing inflation to get out of hand, and then compounding its mistake by raising...

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