Investors / stance tracking
What Jonathan Golub is saying
FollowFollowingUnfollowChief US market strategist, Seaport Research Partners
8 dated public stances tracked since 2026-09-28, most recently 2026-11-02. 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 Jonathan Golub'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. Jonathan Golub is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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8
tracked stances
6
themes
0
side flips
2026-11-02
last heard
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| Ai Infra | 1 | 1 bullish | 2026-10-30 | |
| SEMIS | 1 | 1 bullish | 2026-10-30 | |
| SMH | 1 | 1 bullish | 2026-11-02 | |
| SPX | 1 | 1 bullish | 2026-11-02 | |
| TRANSPORTATION SECTOR | 1 | 1 bullish | 2026-11-02 | |
| US LARGE-CAP TECH | 1 | 1 bullish | 2026-10-30 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-11-02
long INDUSTRIALS / short CONSUMER
pair
CNBC (uncut) · uncut_tv
Industrial-sector earnings fundamentals are strong and stocks haven't reflected it, while the consumer is stretched with weakening confidence despite decent employment — making long industrials / fade consumer the cleaner expression of the earnings-divergence…
“I would fade the consumer. I'd go long industrials.”
CNBC uncut 2026-11-02 14:07 ET (5 min)
S&P 500 earnings up ~35% year-to-date with the multiple compressed 25%, so the valuation setup is constructive even amid weak internals and below-average earnings beats
“if you had to make a bet, I would bet on the upside”
CNBC uncut 2026-11-02 14:02 ET (5 min)
2026-11-02
TRANSPORTATION SECTOR
bullish
CNBC (uncut) · uncut_tv
Transport fundamentals are strong while stocks have lagged the broader market, creating a valuation gap that looks like a bargain absent an economic breakdown
“the fundamentals are great, the stocks aren't performing, and it looks as if there's a bargain waiting to be had”
CNBC uncut 2026-11-02 14:02 ET (5 min)
Semiconductor and hardware fundamentals remain intact — GDP near 3.5%, earnings estimates still rising — so the selloff in Intel and semis is a positioning unwind rather than a fundamental break, making it a buying opportunity
“I would be buying. There's nothing broke with the fundamental stories.”
CNBC uncut 2026-11-02 14:07 ET (5 min)
Rotation away from tech and semis is unjustified because S&P earnings growth is running ~32% vs. a normal 8-9%, and 2026-27 estimates continue to rise even as CapEx concerns dominate headlines, leaving valuations cheap on a forward basis
“companies are now really cheap. They're on sale”
Bloomberg TV uncut 2026-10-30 07:00 ET (30 min)
2026-10-30
Ai Infra
bullish
Bloomberg TV (uncut) · uncut_tv
The AI investment thesis is fundamentally intact because bottom-line earnings estimates — not just revenues — are rising for the major hyperscalers, and the market's CapEx anxiety conflates near-term cash-flow pressure with long-term impairment of the business
“Is the AI story broken as a fundamental issue? No.”
Bloomberg TV uncut 2026-10-30 07:00 ET (30 min)
2026-10-30
US LARGE-CAP TECH
bullish
Bloomberg TV (uncut) · uncut_tv
Full-year 2026 and 2027 earnings estimates for tech companies continue to rise while stock prices have sold off sharply, compressing multiples to levels where the group looks genuinely cheap relative to the earnings trajectory
“The earnings are going up so much faster than the stock prices that these companies are now really cheap here on sale”
Bloomberg TV uncut 2026-10-30 08:00 ET (30 min)
2026-09-28
long SPX / short Small Caps
pair
Bloomberg Surveillance · video
The S&P 500 is effectively 50% tech with rate-insensitive AI capex earnings, while small caps mirror the broader rate-sensitive economy that gets directly hurt by Fed hikes via bank lending, inventory financing, and leverage costs
“100%. The small cap is a loser on this trade”
Bloomberg Surveillance 9/28/2026
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