The stances below are c8alpha's editorial distillation of Ed Yardeni'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. Ed Yardeni 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.
Where the tracked view on a theme reversed between appearances —
bullish to bearish or back. Dates are the episodes on each side of the turn.
2026-08-17
USTS
bullish
Wealthion · video
At current yields around 4.5%, bonds offer attractive fixed income compensation relative to recent history
“bonds yielding around 4.5% are pretty good”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
HEALTHCARE — AI APPLICATIONS AND DEMOGRAPHICS
bullish
Wealthion · video
AI has transformative potential in diagnostics and patient record management while the baby boomer retirement wave structurally sustains healthcare spending
“AI has the potential for doing marvelous things when it comes to diagnosis”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
DIVIDEND-YIELDING STOCKS
bullish
Wealthion · video
Long-term buy-and-hold of dividend payers compounds wealth over a multi-decade horizon without the need to time the market
“put everything in dividend yielding stocks and never look at them again until you're ready to retire”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
SPX
bullish
Wealthion · video
Bull market is earnings-led rather than valuation-led, with companies repeatedly beating expectations and profit margins consistently coming in above forecasts
“I'd rather have an earnings led melt up than a valuation led melt up”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
FINANCIALS / FINTECH
bullish
Wealthion · video
Major banks are investing billions in AI-driven financial technology, positioning the sector for significant productivity-driven margin expansion
“the big banks are spending billions of dollars”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
AI ADOPTERS — COMPANIES USING AI TO DRIVE PRODUCTIVITY
bullish
Wealthion · video
Companies applying AI to reduce costs and boost productivity will capture durable earnings upside; Yardeni prefers AI users over AI infrastructure builders
“you bet on the people and the companies that benefit from AI”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
MUNIS
bullish
Wealthion · video
Municipal bonds provide tax-advantaged income on top of solid yields, making them particularly attractive for investors in higher tax brackets
“Municipal bonds are very good for a lot of people”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
CYBERSECURITY STOCKS
bullish
Wealthion · video
More sophisticated AI directly multiplies cybersecurity attack surface, creating sustained demand growth for cybersecurity vendors
“the more sophisticated it gets, the more it can create havoc in terms of cyber security issues”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-17
EMERGING MARKETS EQUITIES
bullish
Wealthion · video
Expanding middle classes in emerging economies are enlarging consumer bases, providing a structural long-term demand tailwind
“these emerging markets are emerging. They're getting bigger middle classes and more consumers”
The Recession Never Came. Is This Bull Market Just Getting Started?
2026-08-12
SPX
bullish
Ed Yardeni · video
Earnings momentum (FIMO — fabulous earnings momentum) is driving the market higher with broad participation: equal-weighted S&P up 15% vs 12-13% cap-weighted, signaling a healthy, broadening bull market in the roaring 2020s
“the euphoria is what I call FIMO — fabulous earnings momentum”
Yardeni Raises S&P 500 Target on 'Fabulous Earnings Momentum'
2026-08-12
HEALTHCARE SECTOR
bullish
Ed Yardeni · video
Healthcare is uniquely positioned to benefit from AI because the sector badly needs better information management, and Yardeni already raised it to market overweight at end of 2024
“if any sector badly needs to manage information better, needs AI, it's got to be healthcare”
Yardeni Raises S&P 500 Target on 'Fabulous Earnings Momentum'
2026-08-12
INDUSTRIALS
bullish
Ed Yardeni · video
Industrials are a direct beneficiary of the ongoing AI capex boom, which Yardeni views as 'the real deal,' and the sector is already confirming this with all-time record highs
Yardeni Raises S&P 500 Target on 'Fabulous Earnings Momentum'
2026-08-12
FINANCIALS SECTOR
bullish
Ed Yardeni · video
Banks and financial firms are investing billions in fintech and AI-driven productivity gains that the market understands and is pricing in, with the sector already at record highs
“financials are spending billions of dollars on fintech”
Yardeni Raises S&P 500 Target on 'Fabulous Earnings Momentum'
2026-08-11
JAPANESE YEN / JPY
bearish
Wealthion · video
Japan's short-term rates remain far below global peers (~1% vs ~4.5-5% in the US) and unless Japan raises rates substantially the yen currency crisis may resume, potentially forcing Japanese holders of US Treasuries to repatriate capital
“unless they actually raise interest rates and significantly then this currency crisis may not be over”
The Fed’s Credibility Is on the Line, Ed Yardeni Warns
2026-08-11
SPX
bullish
Wealthion · video
Baby boomer generation holds ~$110T in net worth and is spending aggressively in retirement, combined with the AI-driven capital spending boom, will continue to drive earnings surprises and push the stock market higher through end of the decade
“earnings will continue to surprise to the upside and that'll continue to drive the market higher”
The Fed’s Credibility Is on the Line, Ed Yardeni Warns
2026-08-11
Long Dur Treasuries
bearish
Wealthion · video
If the Fed fails to raise rates and restore credibility on inflation, bond vigilantes will push long-end yields sharply higher even as the Fed tries to hold short rates, creating a revolt on the long end that the Treasury cannot fully contain
“Even if the Fed were trying to lower interest rates on the short end, you could have a revolt on the long end”
The Fed’s Credibility Is on the Line, Ed Yardeni Warns
2026-08-07
SPX
bullish
The Compound · video
No recession through end of decade means fabulous earnings momentum (FEMO) continues; at $43/share forward earnings × 20 PE the index yields 8,000+ year-end, and $500/share by decade-end × 20 drives a 10,000 target
“I have the S&P 500 at 10,000 by the end of the decade”
The Man Who Called the Roaring 2020s | TCAF 254
2026-08-07
GOLD
bullish
The Compound · video
Gold is holding technical support at $4,000 after a reasonable correction from its channel high; gold lends itself to technical analysis as pure supply-and-demand, and the uptrend channel justifies raising the year-end target from $5,000 to $5,500
“We'll raise it to $5,500 by the end of the year”
The Man Who Called the Roaring 2020s | TCAF 254
2026-08-07
RUSSELL 2000 SMALL CAPS
bullish
The Compound · video
Small caps were held back by recession fears and high interest rates, not weak fundamentals; as recession fears fade it is a catchup trade not large-caps catching down, and the index sniffs recessions first so its continued strength confirms no downturn coming
“I'm a catchup person versus a catchdown person”
The Man Who Called the Roaring 2020s | TCAF 254
2026-08-07
long FINANCIALS / long INDUSTRIALS / long HEALTHCARE
basket
The Compound · video
Financials, industrials, and healthcare are the broadening-bull catchup trade as AI drives productivity gains into these sectors and the impressive 493 non-Mag7 stocks outperform
“we reiterate our stance on overweighting financials, industrials, and we added healthcare”
The Man Who Called the Roaring 2020s | TCAF 254
2026-07-24
SPX
bullish
Ed Yardeni · video
Economy continues to show resilience with no recession materializing, and fabulous earnings momentum (FEMO) from AI drives the index to 10,000 by end of the decade
“I've got 10,000 on the S&P 500 by the end of the decade”
Yardeni Research President Ed Yardeni Talks Market Outlooks, Personal Investment Strategy |...
2026-07-24
Big Tech
bullish
Ed Yardeni · video
Technology is the leading sector of the US economy and the Nasdaq 100 has outperformed even the S&P 500 as a result, a trend he expects to continue given AI momentum
“even better has been the Nasdaq 100. Technology has been a leading sector in our economy”
Yardeni Research President Ed Yardeni Talks Market Outlooks, Personal Investment Strategy |...
2026-07-24
SPX
bullish
Ed Yardeni · video
Yardeni keeps his personal portfolio mostly in ETFs tracking the S&P 500 because he believes in the market and finds it has been a strong long-term compounder
“I believe that the S&P 500's been awfully good”
Why Ed Yardeni Invests Mostly in ETFs
2026-07-24
Big Tech
bullish
Ed Yardeni · video
The NASDAQ 100 has outperformed even the S&P 500 because technology has been and remains a leading sector of the US economy
“even better has been the NASDAQ 100. Technology has been a leading sector in our economy”
Why Ed Yardeni Invests Mostly in ETFs
2026-07-01
SPX
bullish
Ed Yardeni · video
Earnings-driven 'meltup' (FIMO — fabulous earnings momentum) fueled by a resilient economy, baby boomer consumer spending power, and AI capex justifies continued appreciation toward his 8,250 price target.
“this has been an earnings driven market recently. It's been an earnings driven meltup”
Wall Street's Biggest Bull Would BUY THE GOLD DIP | Ed Yardeni
2026-07-01
US INFORMATION TECHNOLOGY AND COMMUNICATION SERVICES SECTORS
neutral
Ed Yardeni · video
AI disruption will produce sharp winners and losers within tech and communication services, making sector-level outperformance uncertain and warranting only market-weight exposure rather than an overweight bet.
“I'd be market weight information technology and communication services because there's going to be some areas that win and some areas that lose”
Wall Street's Biggest Bull Would BUY THE GOLD DIP | Ed Yardeni
2026-07-01
BITCOIN
bearish
Ed Yardeni · video
Stablecoins have stripped Bitcoin's medium-of-exchange use case by applying blockchain technology to a dollar-backed stable unit, leaving Bitcoin only a 'store of value' claim that it is currently failing to execute, undermining its fundamental investment…
“that really leaves Bitcoin with only one claim to fame as a store of value. It's not doing a very very good job of that”
Wall Street's Biggest Bull Would BUY THE GOLD DIP | Ed Yardeni
2026-07-01
GOLD
bullish
Ed Yardeni · video
Structural central bank demand from non-Western nations diversifying away from USD/EUR reserves after Ukraine-era sanctions risk underpins gold; $4,000 is technical support (200-day MA) and represents an entry opportunity toward a $10,000 decade-end target.
“I think this 4,000 may be a good opportunity to get in”
Wall Street's Biggest Bull Would BUY THE GOLD DIP | Ed Yardeni
2026-06-18
SPX
bullish
Ed Yardeni · video
Earnings momentum (FIMO — fabulous earnings momentum) continues to accelerate, driving the index toward a year-end target of 8,250
“the earnings numbers just continue to get stronger and stronger”
Ed Yardeni: New Fed Chair Kevin Warsh is a HAWK acting like a DOVE
2026-06-18
GOLD
bullish
Ed Yardeni · video
Gold broke below its 200-day moving average, then found technical support at $4,000, which Yardeni reads as a confirmed bottom with upside to $5,500 by year-end
“it found support at 4,000 … I think it's going to gradually move still higher”
Ed Yardeni: New Fed Chair Kevin Warsh is a HAWK acting like a DOVE
2026-06-18
EMXC
bullish
Ed Yardeni · video
Emerging markets ex-China trade at cheaper valuations on a PE basis than the US and include AI-driven economies like Korea and Taiwan
“I like EMXC which is the emerging markets excluding China”
Ed Yardeni: New Fed Chair Kevin Warsh is a HAWK acting like a DOVE
2026-06-18
China Equities
bearish
Ed Yardeni · video
China has been a persistent underperformer and is explicitly excluded from Yardeni's preferred EM exposure
“China has not been a good place to invest”
Ed Yardeni: New Fed Chair Kevin Warsh is a HAWK acting like a DOVE
2026-06-18
SPX
bullish
Ed Yardeni · video
Fabulous earnings momentum (FEMO) — not valuation multiple expansion — is driving the bull market, with resilient corporate earnings supported by a strong consumer and AI capex spending boom, underpinning a target of 8,250 by year-end and 10,000 by end of 2029
“I'm looking for the S&P 500 to get to 8,250 by the end of the year”
Yardeni Research President Ed Yardeni Talks State of the Market | Bloomberg Talks
2026-06-18
AI CAPITAL SPENDING / AI INFRASTRUCTURE
bullish
Ed Yardeni · video
AI is not a speculative bubble but an evolution in a decades-long digital revolution (mainframe → PC → cloud → AI), and the current capex cycle will pay off as data becomes a true fourth factor of production
“AI is not a revolution, it's an evolution in the digital revolution”
Yardeni Research President Ed Yardeni Talks State of the Market | Bloomberg Talks
2026-05-27
SPX
bullish
Ed Yardeni · video
Fabulous earnings momentum (FEMO) — accelerating earnings growth on a resilient, recession-free economy — justifies current 20-22x forward PE and drives the market to 10,000 by decade-end in a 'Roaring 2020s' scenario
“we get to 10,000 on the S&P 500 by the end of the decade”
90d +2.3%
Ed Yardeni Says Dip-Buying Opportunities in This Market Are Wishful Thinking
2026-05-11
SPX
bullish
Ed Yardeni · video
Record corporate earnings, resilient consumer spending backed by $89T baby boomer net worth, AI-driven productivity gains, deregulation, and fiscal stimulus from the 'big beautiful bill' combine to justify raising the 2026 S&P 500 target to 8,250
“The earnings estimates of analysts have been phenomenal. I've never seen anything like it”
90d +4.8%
Don't underestimate the resilience of economy and the consumer, says Ed Yardeni
2026-05-11
AI PRODUCTIVITY THEME (BROAD)
bullish
Ed Yardeni · video
AI is driving a 'Roaring 2020s' productivity surge analogous to 1920s technological innovation, which simultaneously boosts growth, lowers inflation, and lifts corporate profit margins without triggering a wage-price spiral
“Productivity makes everything better — growth better, inflation lower, great for corporate profits”
Don't underestimate the resilience of economy and the consumer, says Ed Yardeni
2026-05-11
US SEMICONDUCTOR / DOMESTIC SUPPLY CHAIN BUILDOUT
bullish
Ed Yardeni · video
Both the Biden infrastructure bill and the current administration are pushing semiconductor and supply chain reshoring for national security reasons, creating sustained multi-administration capex stimulus for domestic chip and manufacturing capacity
“Under the current administration we're seeing the same kind of push for national security reasons to bring supply chains back”
Don't underestimate the resilience of economy and the consumer, says Ed Yardeni
2026-04-02
SPX
bullish
Ed Yardeni · video
The Iran conflict has an effective exit ramp via US de-escalation, removing the worst-case scenario overhang that drove the 9% correction, so Monday marked the bottom and the index targets 7,700 by year-end
“I've stuck with my 7,700 S&P 500 by the end of the year”
90d +14.0%
Top market researcher Ed Yardeni says the market bottom is in
2026-04-02
ENERGY
bullish
Ed Yardeni · video
Elevated oil prices provide a net positive to the US economy and specifically the US oil and gas export industry, even if they weigh on foreign economies
“there's a positive impact on the US oil industry because we are exporters of oil and gas”
90d -10.2%
Top market researcher Ed Yardeni says the market bottom is in
2026-04-02
MAGNIFICENT SEVEN
owns
Ed Yardeni · video
P/E compression from ~31 to ~22 during the selloff made the Magnificent Seven cheap enough to upgrade back to market weight from an underweight established in December
“This PE has gone down from like 31 down to 25 — I went back to a market weight on the Magnificent Seven”
Top market researcher Ed Yardeni says the market bottom is in
2026-03-10
GOLD
bullish
Ed Yardeni · video
Gold is in a secular bull market driven by geopolitical risks (freezing of Russian central bank assets), serves as a portfolio diversifier inversely correlated with equities short-term, and competes with Bitcoin as a store of value
“I'm still using 6,000 by the end of the year and 10,000 by the end of the decade”
90d -16.9% · 180d -16.4%
Yardeni Says Gold Could Hit $6,000 an Ounce by End of Year
2026-03-10
SPX
bullish
Ed Yardeni · video
Roaring 2020s secular bull market thesis remains intact despite near-term volatility, with continued wealth creation driving long-term equity appreciation
“I'm still using 7,700 in the S&P by the end of the year and 10,000 by the end of the decade”
90d +9.5% · 180d +13.7%
Yardeni Says Gold Could Hit $6,000 an Ounce by End of Year
2026-03-10
SPX
bullish
Ed Yardeni · video
Strong earnings growth and a productivity comeback driven by AI keep the economy resilient enough to reach 7,700 on the S&P 500 by year-end, with near-term sell-offs viewed as buying opportunities rather than reasons to panic
“I haven't given up on 7,700 by the end of the year”
90d +9.5% · 180d +13.7%
President & Founder at Yardeni Research Ed Yardeni Talks Potential Market Breakdown | Bloomberg...
2026-03-06
US INFLATION / CPI TRAJECTORY
bearish
Ed Yardeni · video
Unit labor cost growth at 1.3% signals underlying inflation is decelerating, and Yardeni expects CPI to reach 2% by year-end or sooner
“inflation is going down. I think by the end of the year it'll get down to 2%”
Yardeni Research president does not suggest ‘selling’ into this environment
2026-03-06
USTS
neutral
Ed Yardeni · video
With the economy performing well and the Fed unlikely to cut rates, a 4–4.5% 10-year yield is a fair, healthy level that properly allocates capital, suggesting no material move in either direction
“bond yields around four, four and a half percent — that's normal, that's actually a healthy sign”
Yardeni Research president does not suggest ‘selling’ into this environment
2026-03-06
SPX
bullish
Ed Yardeni · video
Geopolitical crises in the Middle East historically are buying opportunities, and strong productivity, falling unit labor costs, and robust PMI data support market resilience and a quick rebound from any selloff
“geopolitical crises tend to be buying opportunities in the stock market”
90d +12.9% · 180d +14.4%
Yardeni Research president does not suggest ‘selling’ into this environment
2026-02-06
AMZN
bullish
Ed Yardeni · video
Hyperscalers planning $650 billion in AI infrastructure spending in 2024 will be highly stimulative to the broader economy and drive future cash flow growth, making the capex profitable over time
“Nobody's talking about a recession and the only question is how big a boom are we going to have”
90d +28.9% · 180d +29.6%
Market bounce back has to do with spending hyperscalers are planning: Yardeni Research's Ed Yardeni
2026-02-06
NVDA
bullish
Ed Yardeni · video
Nvidia benefits directly from massive hyperscaler AI infrastructure spending which creates sustained demand across the entire AI value chain
“Nvidia is up 7%. Everything in the AI value chain is like great. We're thrilled.”
90d +14.1% · 180d +18.4%
Market bounce back has to do with spending hyperscalers are planning: Yardeni Research's Ed Yardeni
2026-02-06
MAG SEVEN TECHNOLOGY STOCKS (RELATIVE CORRECTION)
bearish
Ed Yardeni · video
Increased competition among hyperscalers and LLM providers is a near-term headwind for Mag Seven stocks, warranting a relative correction versus the broader market, though long-term thesis remains intact
“this is just a near-term issue”
Market bounce back has to do with spending hyperscalers are planning: Yardeni Research's Ed Yardeni
2026-02-06
SPX
bullish
Ed Yardeni · video
The Magnificent 7 must sell their technologies to the rest of the S&P 500, meaning AI benefits broaden out to the other 493 companies, supporting the broader market even as mega-cap concentration risk fades
“the magnificent 7 can't be magnificent without selling all of their technologies to the impressive 493”
90d +6.2% · 180d +12.1%
Market bounce back has to do with spending hyperscalers are planning: Yardeni Research's Ed Yardeni
2026-01-22
SPX
bullish
Ed Yardeni · video
A resilient US economy with no recession in sight drives strong earnings growth, fueling an earnings-led melt-up in stock prices with PE multiples holding steady
“I think we've got an earnings-led melt-up in the stock market. Earnings are melting up. So the market's melting up.”
90d +3.5% · 180d +9.2%
Earnings melt up in stock market will bring equities higher, says Yardeni Research's Ed Yardeni
2026-01-22
GEOPOLITICAL CRISIS DIPS (BROAD EQUITIES)
bullish
Ed Yardeni · video
Geopolitical crises have historically proven to be buying opportunities as markets quickly price in moderation, making sell-offs short-lived and recoveries sharp
“Geopolitical crises are very often buying opportunities and it looks like everybody else knows that.”
Earnings melt up in stock market will bring equities higher, says Yardeni Research's Ed Yardeni
2026-01-13
GOLD
bullish
Ed Yardeni · video
Central bank buying post-Russia sanctions removal of FX reserves is a structural bid, now amplified by Chinese retail investors fleeing property and equity volatility, driving gold toward $6,000 target by year-end
“I had been predicting 5,000 for the end of this year. Now I'm using 6,000 simply because it's moving so fast”
90d +3.3% · 180d -12.9%
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
MAGNIFICENT 7 / MEGA-CAP TECH
bearish
Ed Yardeni · video
Underweight Mag 7 because AI competition is forcing massive capital spending with uncertain returns, margin pressure from rivals (including custom chips from Google/AMD/Chinese firms), and the stocks represent 30-35% of S&P 500 concentration that has largely…
“I'm underweighting the Magnificent 7... there's a lot of uncertainty about how much is too much capital spending”
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
HEALTHCARE SECTOR
bullish
Ed Yardeni · video
Overweight healthcare because big pharma's drying pipelines are driving an early-stage M&A boom into biotech, and once acquired innovations are leveraged the sector re-rates on improved earnings with low current valuations and dividend support
“we're in the early stages of a great M&A boom in the healthcare industry”
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
SPX
bullish
Ed Yardeni · video
The 493 companies are the actual beneficiaries of AI productivity gains, their earnings trajectory is improving, and market breadth is broadening as AI tools boost corporate efficiency
“the 493s are starting to do better... there's less uncertainty that the 493 can use these technologies to increase productivity”
90d -0.8% · 180d +8.6%
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
BIOTECH SECTOR
bullish
Ed Yardeni · video
Biotech startups are acquisition targets for large pharma desperate to replenish pipelines, making the subsector a near-term beneficiary of the healthcare M&A wave
“right now it's benefiting the biotechs”
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
FINANCIALS SECTOR
bullish
Ed Yardeni · video
Overweight financials because the sector sold off on Trump credit-card rate-cap rhetoric but fundamentals remain intact and the sector will do fine
“I've been recommending overweighting financials, and I'm still doing that”
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
2026-01-13
ENERGY
bearish
Ed Yardeni · video
Ample global oil supply keeps downside risk alive despite geopolitical disruptions in Iran and Venezuela, warranting only a market-weight position
“I still think there's a lot of oil out there and I'm not convinced that the downside is over for oil”
Pro Picks: Ed Yardeni’s Highest-Conviction Ideas for 2026
Showing the 60 most recent of 134 tracked stances.