Investors / stance tracking

What Chris Verrone is saying

Chief market strategist, Baird Strategas

24 dated public stances tracked since 2023-04-21, most recently 2026-10-29. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.

The stances below are c8alpha's editorial distillation of Chris Verrone's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Chris Verrone is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

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tracked stances

themes

side flips

2026-10-29

last heard

Points Score 6.9 · 4/4 names green at 90 days · how it’s scored

Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.

Scored calls

Every tracked call with at least one matured horizon: the rows behind the Returns line above. A dash is a horizon that has not matured yet.

Date	Name	Call	90d	180d	1y
2026-03-30	USD	bullish	+1.4%	+2.6%	—
2026-03-30	Long Dur Treasuries	bullish	+2.0%	-7.3%	—
2026-03-30	Japan Equities	bullish	+15.0%	+19.4%	—
2026-03-30	GOLD	bearish	+11.1%	+8.8%	—

Most-argued themes

Theme	Stances	Mix	Last
Long Dur Treasuries	2	2 bullish	2026-10-23
AMD	1	1 bullish	2026-10-19
CONSUMER DISCRETIONARY	1	1 bullish	2026-10-29
CONSUMER STOCKS	1	1 bullish	2026-10-23
CSU	1	1 bullish	2023-04-21
DELL	1	1 bullish	2026-10-19

Tracked stances

bullish / bearish is a view they argued; owns / short is a position they said they hold.

2026-10-29 long EMR / long FAST / long PWR basket CNBC (uncut) · uncut_tv

Emerson, Fastenal, and Quanta are industrials that are either back in gear or washed out to levels that look timely as the real economy re-accelerates

“Emerson or Fassenell or I frankly think there's some washed out areas, Quanta which frankly looked pretty timely”

CNBC uncut 2026-10-29 15:18 ET (5 min)

2026-10-29 long INSURANCE SECTOR EQUITIES / short LARGE-CAP BANK STOCKS pair CNBC (uncut) · uncut_tv

Insurance has emerged from three years of dead money and is now showing the strongest new high data within financials, while large-cap banks like Citi and BofA have materially underperformed — a transition that is becoming a global theme

“insurance over banks is starting to become a bit of a global thing”

CNBC uncut 2026-10-29 15:13 ET (5 min)

2026-10-29 long BANKS / short BANKS pair CNBC (uncut) · uncut_tv

Leadership within the bank group has rotated away from money-center banks (Citi down 4%, BofA down 6%) toward regionals and small community banks like East West Bancorp, which have turned up while the large-cap names lag

“it is not the big banks here, it is the regionals in the small community banks”

CNBC uncut 2026-10-29 15:13 ET (5 min)

2026-10-29 E bullish CNBC (uncut) · uncut_tv

E&P has spent months consolidating and is now starting to break out, diverging positively from the broader energy sector where momentum is fading

“E&P, which has spent the last couple months consolidating, starting to break out”

CNBC uncut 2026-10-29 15:18 ET (5 min)

2026-10-29 CONSUMER DISCRETIONARY bullish CNBC (uncut) · uncut_tv

Consumer discretionary is quietly acting better despite near-universal bearish consensus for 2027, suggesting a price-versus-narrative divergence that demands attention

“quietly discretionary is acting better...there is improvement there that I certainly think demands our attention”

CNBC uncut 2026-10-29 15:18 ET (5 min)

2026-10-29 ENERGY bearish CNBC (uncut) · uncut_tv

Momentum in the energy sector is breaking down in real time, signaling a transition away from energy as a leadership group

“the momentum in the energy sector is breaking right now”

CNBC uncut 2026-10-29 15:13 ET (5 min)

2026-10-23 long BANKS / short BANKS pair CNBC (uncut) · uncut_tv

Intra-financial sector leadership is rotating from money center banks to regional banks and insurance companies as the rate environment softens — GS and MS have technically broken down while regional banks and insurers have pulled back to healthy levels and…

“the leadership is changing regional banks over the money centers”

CNBC uncut 2026-10-23 05:56 ET (5 min)

2026-10-23 Long Dur Treasuries bullish CNBC (uncut) · uncut_tv

Rates have likely peaked for the year because inflation is structural — supply chain dislocations plus geopolitical supply shocks — making further hikes the wrong tool and setting up a potentially disinflationary 2027 as commodity prices fall

“Rates we think have peaked for the year”

CNBC uncut 2026-10-23 05:56 ET (5 min)

2026-10-23 CONSUMER STOCKS bullish CNBC (uncut) · uncut_tv

Consumer sector has been dead money for three years but is beginning to rotate into leadership as bond yields pull back, reflecting the early innings of a disinflationary shift that benefits rate-sensitive cyclicals

“Consumer, which has been dead money for three years, starting to wake up”

CNBC uncut 2026-10-23 05:56 ET (5 min)

2026-10-23 UTILITIES bullish CNBC (uncut) · uncut_tv

Utilities are reawakening as part of the rate-sensitive sector rotation driven by falling bond yields and the emerging disinflationary macro setup

CNBC uncut 2026-10-23 05:56 ET (5 min)

2026-10-19 long Big Tech / short SK pair Bloomberg TV (uncut) · uncut_tv

Memory chip prices and KOSPI peaked in June while Mag-7 hyperscalers outperformed, so the bearish memory tape is not bearish for the check-writers — long hyperscalers vs underweight memory complex is the right split within tech

“What we're peaking with KOSPI is really memory prices… are we sure that's bearish for everything?”

Bloomberg TV uncut 2026-10-19 08:59 ET (30 min)

2026-10-19 long Big Tech / short KOSPI pair Bloomberg Open Interest · video

The AI trade is bifurcating — as memory prices peak the KOSPI/memory complex becomes dead money while the hyperscaler/Mag7 check-writers benefit from a lower AI cost curve, so the right trade is to separate the two rather than paint AI with a single brush

“Just look at when KOSPI peaked back in June, what started to actually happen? MAG 7 and hyper scalers actually started to outperform.”

Open Interest 10/19/2026

2026-10-19 DELL bullish Bloomberg TV (uncut) · uncut_tv

Dell has made new highs in a period when the broader semiconductor complex has been selling off, marking it as one of the few tech names showing true relative-strength leadership

“Dell's been on that list.”

Bloomberg TV uncut 2026-10-19 08:59 ET (30 min)

Said again: 2026-10-19 (Bloomberg Open Interest)

2026-10-19 AMD bullish Bloomberg TV (uncut) · uncut_tv

AMD has made new highs while memory chip names undercut their July situational-awareness lows, demonstrating it is genuine tech leadership rather than the broken part of the semiconductor complex

“AMD's on that list. Dell's been on that list. Frankly, Nvidia has acted okay here.”

Bloomberg TV uncut 2026-10-19 08:59 ET (30 min)

Said again: 2026-10-19 (Bloomberg Open Interest)

2026-10-19 REFINING INDEX / REFINERS bearish Bloomberg TV (uncut) · uncut_tv

Refining index up ~150% YTD, trading parabolic and unabated for months — mirrors silver's January 2026 parabolic which then went dead money for 10 months, making refiners vulnerable to a similar mean-reversion unwind

“refiners are an area where you have the COSP silver like parabolic risk... it looks vulnerable to us”

Bloomberg TV uncut 2026-10-19 09:29 ET (30 min)

2026-10-19 META bullish Bloomberg TV (uncut) · uncut_tv

Bearish chart setup never broke, which is historically bullish, and the stock has turned powerfully over the last two to three months with expectations bar potentially receding into earnings

“meta has been such a good example this year of how when bearish charts don't break, it's typically pretty bullish”

Bloomberg TV uncut 2026-10-19 09:29 ET (30 min)

Said again: 2026-10-19 (Bloomberg Open Interest)

2026-10-19 OIL REFINERS bearish Bloomberg Open Interest · video

Refiner stocks have run parabolically with extreme positioning — the same setup that left KOSPI and silver as dead money — making the group vulnerable to a sharp reversal as momentum extremes get punished

“I think refiners are an area where you have kind of the KOSPI-silver like risk. That looks vulnerable to us.”

Open Interest 10/19/2026

2026-10-09 SPX bullish Bloomberg TV (uncut) · uncut_tv

Capital is not yet flowing out of equities because real rates, though elevated, have not crossed the threshold where fixed income is genuinely competitive for daily capital allocation.

“bond yields are high, real rates are high — are they yet high enough where they are truly competitive for your capital every day? I'm not sure we've reached that threshold yet”

Bloomberg TV uncut 2026-10-09 08:10 ET (30 min)

2026-03-30 long EQUAL-WEIGHT / VALUE EQUITIES / short MAG SEVEN / CAP-WEIGHT GROWTH pair Bloomberg Open Interest · video

Value over growth and equal weight over cap weight are at new highs and the trend has not broken; the market craves the average stock over Mag Seven, and that rotation is the durable theme through the fog of war.