CIO, Crescat Capital
5 dated public stances tracked since 2026-06-26, most recently 2026-06-26. 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 Kevin Smith'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. Kevin Smith is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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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 |
|---|
| 2026-06-26 | SPX | bearish | -5.5% | — | — |
| 2026-06-26 | High Yield | bearish | +1.0% | — | — |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|
| High Yield | 1 | | 1 bearish | 2026-06-26 |
| PRECIOUS AND CRITICAL METALS EXPLORATION MINERS | 1 | | 1 bullish | 2026-06-26 |
| SMALL-CAP BIOTECH | 1 | | 1 bullish | 2026-06-26 |
| SPX | 1 | | 1 bearish | 2026-06-26 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-06-26
short LARGE/MEGA-CAP TECH / long PRECIOUS AND CRITICAL METALS EXPLORATION MINERS
pair
CNBC Closing Bell Overtime · video
The 'great rotation' out of record-valued large/mega-cap tech into deeply undervalued commodity producers — especially precious and critical metals exploration miners — where capital velocity and valuation gap favor the long leg
“rotating out of large cap and mega cap tech stocks into undervalued commodities”
There are market opportunities in precious, critical metals mining: Crescat's Smith
2026-06-26
High Yield
bearish
CNBC Closing Bell Overtime · video
Record tight credit spreads are unsustainable and a blowout would hammer high yield, making put options on a high yield ETF an attractive credit-spread-mean-reversion hedge
“put options in something like high yield ETF also makes a lot of sense here”
90d +1.0%
There are market opportunities in precious, critical metals mining: Crescat's Smith
2026-06-26
PRECIOUS AND CRITICAL METALS EXPLORATION MINERS
bullish
CNBC Closing Bell Overtime · video
Exploration-focused small-cap miners in precious and critical metals offer deep value and high growth potential as capital rotates out of overvalued mega-cap tech into undervalued commodity producers
“exploration side of the industry is really where the deep value and high growth potential is”
There are market opportunities in precious, critical metals mining: Crescat's Smith
2026-06-26
SPX
bearish
CNBC Closing Bell Overtime · video
Record valuations, tight credit spreads, deteriorating breadth, and hawkish Fed create conditions for a consequential market peak, making cheap put options an attractive tail hedge
“S&P 500 put options with volatility still cheap — think that's a good place to look”
90d -5.5%
There are market opportunities in precious, critical metals mining: Crescat's Smith
2026-06-26
SMALL-CAP BIOTECH
bullish
CNBC Closing Bell Overtime · video
Post-COVID dislocation left many biotech names trading below cash, creating a durable value opportunity that began recovering late last year and still has further upside
“you could buy these companies for less than cash in many cases”
There are market opportunities in precious, critical metals mining: Crescat's Smith
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