The stances below are c8alpha's editorial distillation of Diego Parrilla'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. Diego Parrilla is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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.
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.
2025-04-22
GOLD
bullish
Wealthion · video
Structural monetary inflation driven by debt monetization and the coming adoption of yield curve control will debase currencies, making gold the primary beneficiary with a path toward $10,000 per ounce
“gold might be on its way to 10K and real assets”
90d +0.6% · 180d +29.6% · 1y +39.9%
Diego Parrilla: We’re Heading Straight Into A Stagflationary Perfect Storm
2025-04-22
VOL
bullish
Wealthion · video
In a stagflationary environment where fixed income no longer reliably hedges equities, volatility is the true portfolio defender and must be owned via VIX calls and tail-risk strategies rather than sold
“you need to embrace volatility. You shouldn't fight it”
90d -37.2% · 180d -52.6% · 1y -59.0%
Diego Parrilla: We’re Heading Straight Into A Stagflationary Perfect Storm
2020-08-26
long BROAD EQUITIES / short Investment Grade Credit
pair
Raoul Pal · video
In an inflationary environment equities pass price increases through margin expansion while fixed-income credit returns fixed nominal cash flows that get debased, making equities strictly superior as the offensive portfolio allocation
“those 100 euros that you're going to get are not going to buy you much so if you want a striker you want your equity risk”
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
2020-08-26
long GOLD / short SPX
other
Raoul Pal · video
The market prices a simultaneous gold-up/S&P-down event as uncorrelated (zero implied correlation), making the dual-digital 10:1 versus each single leg at 3:1, while in reality both are expressions of the same monetary-crisis scenario
“you could do that at ten to one so roughly nine to one you're risking let's say one dollar to either lose it or to make 10”
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
2020-08-26
GOLD
bullish
Raoul Pal · video
Central bank money printing without limits debases fiat currencies; gold is the anti-bubble that reflates by construction when the monetary/equity bubble bursts, targeting $3,000–$5,000 over 3–5 years
“three to five thousand gold in the next three to five years that article that i published in the front page of eft i still have that view it's been reinforced”
90d -7.5% · 180d -7.6% · 1y -8.6%
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
2020-08-26
TIPS
bullish
Raoul Pal · video
Interest rates cannot be raised without collapsing the debt system so yields stay pinned near zero while inflation overshoots the Fed's asymmetric target, making 30-year TIPS a defender with meaningful real yield and inflation-upside optionality
“it's still 1.2 times 30 years that's a meaningful upside and we have potentially risk overshooting on the inflation side”
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
2020-08-26
Long Dur Treasuries
bullish
Raoul Pal · video
Hiking rates is politically and systemically impossible regardless of inflation, so nominal yields grind toward zero generating capital gains for long-duration holders; treasuries remain portfolio defenders despite compressed yields
“i think treasury yields might go to zero and you will have inflation”
90d -2.7% · 180d -12.8% · 1y -8.2%
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
2020-08-26
BITCOIN
bullish
Raoul Pal · video
Bitcoin carries extreme asymmetric optionality as a potential superior monetary standard; even a low-probability partial adoption scenario produces outsized returns relative to the small premium cost of holding it as a call option on a new monetary regime
“i have no doubt that bitcoin is and could be one of the most asymmetric asset classes”
The Ultimate Masterclass for Macro Investing (w/ Raoul Pal & Diego Parrilla)
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