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Investors / stance tracking

What Gabriela Santos is saying

Chief market strategist for the Americas, J.P. Morgan Asset Management

9 dated public stances tracked since 2026-05-28, most recently 2026-10-28. 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 Gabriela Santos'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. Gabriela Santos is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

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9
tracked stances
6
themes
0
side flips
2026-10-28
last heard

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.

DateNameCall90d180d1y
2026-05-28USTSbullish-0.3%——

Most-argued themes

ThemeStancesLeanMixLast
USTS22 bullish2026-10-22
BANKS11 neutral2026-09-29
CONSUMER STAPLES, CONSUMER DISCRETIONARY11 bearish2026-05-28
FED RATE HIKES11 bullish2026-10-28
Long Dur Treasuries11 bullish2026-09-29
QUALITY EQUITIES11 bullish2026-10-22

Tracked stances

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

2026-10-28 FED RATE HIKES bullish Fox Business (uncut) · uncut_tv
The Fed remains in a gradual, shallow hiking cycle because inflation must fall but the economy is not overheating enough to require aggressive tightening.
“This is a pause still within a broader rate hiking cycle.”
Fox Business uncut 2026-10-28 15:09 ET (5 min)
2026-10-22 USTS bullish Bloomberg TV (uncut) · uncut_tv
Yields have risen enough to offer attractive income while softer economic growth and excessive Fed tightening expectations leave room for yields to decline further.
“For the marginal dollar here, actually fixed income's a lot more attractive.”
Bloomberg TV uncut 2026-10-22 09:29 ET (30 min)
2026-10-22 QUALITY EQUITIES bullish Bloomberg TV (uncut) · uncut_tv
Greater dispersion among AI-related companies makes balance-sheet quality and free-cash-flow resilience more attractive than simply following momentum.
“If you had to look at one factor, it's quality.”
Bloomberg TV uncut 2026-10-22 09:29 ET (30 min)
2026-09-29 long Quality Stocks / short Small Caps pair Bloomberg Open Interest · video
Small-cap outperformance was speculative AI beta rather than real-economy strength and fizzles as rates rise and unprofitable names underperform, while large-cap high-quality stocks offer durable earnings and are the healthier positioning
“it's much more large cap high quality that we're focused on”
Open Interest 9/29/2026
2026-09-29 Long Dur Treasuries bullish Bloomberg Open Interest · video
The ~50bp surge in yields this month is overdone — inflation expectations barely moved, PMIs overstate US economic strength, and the Fed likely does not need to hike the additional 90bps priced in, making 5%+ yields very attractive with volatility near a…
“they look really really attractive at 5% or above”
Open Interest 9/29/2026
Said again: 2026-10-22 (Bloomberg Open Interest)
2026-09-29 BANKS neutral Bloomberg Open Interest · video
Monetary policy has shifted from cuts to hikes putting pressure on bank deposits, and capital markets activity may be at peak given multiple IPO postponements, making the formerly bullish setup for financials considerably less favorable
“the outlook more recently has become a bit less favorable”
Open Interest 9/29/2026
2026-08-18 long European Equities / long USTS / long GOLD / long CORE REAL ESTATE basket Bloomberg Open Interest · video
AI factor risk is now pervasive across US, EM, and Japanese equities, making European equities, treasuries, gold, and core real estate the rare diversifiers with uncorrelated return streams that can shelter portfolios during AI selloffs or geopolitical shocks
“areas to diversify away from that are few and far between but there are some”
Where Investors Can Hide From Shocks | Open Interest 8/18/2026
2026-05-28 CONSUMER STAPLES, CONSUMER DISCRETIONARY bearish Bloomberg Open Interest · video
Relief rallies in consumer sectors on Iran ceasefire headlines are tactical noise and should be faded because a structural floor in Brent near $95 persists even if the Strait of Hormuz reopens, given the cumulative supply deficit built over nearly three…
“We would fade those kind of tactical moves because there's just a higher floor to oil prices”
US, Iran Truce Hopes Lift Stocks | Open Interest 5/28/2026
2026-05-28 USTS bullish Bloomberg Open Interest · video
The front end of the US yield curve is pricing in a full Fed rate hike over the next 12 months, which is excessive given there is insufficient demand-side strength to justify a hike and the Fed is more likely to stay on hold, making front-end Treasuries an…
“it's still embedding a full rate hike over the next 12 months, and we think that's overdone and is actually an opportunity”
90d -0.3%
US, Iran Truce Hopes Lift Stocks | Open Interest 5/28/2026
Said again: 2026-08-18 (Bloomberg Open Interest)

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