Chief Portfolio Manager, Equities, Northwestern Mutual Wealth Management
8 dated public stances tracked since 2024-08-27, most recently 2026-10-21. 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 Matt Stuckey'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. Matt Stuckey 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.
2026-10-21
Investment Grade Credit
bullish
Bloomberg TV (uncut) · uncut_tv
Starting yields are attractive with a highly asymmetric 1-year forward skew (~1.5% downside vs ~12.5% upside on ±100bps rate shock), making IG bonds an effective portfolio diversifier versus equity risk
“starting point for investment grade fixed income is attractive today”
Bloomberg TV uncut 2026-10-21 08:00 ET (30 min)
2026-10-21
High Yield
bearish
Bloomberg TV (uncut) · uncut_tv
Spreads are too tight relative to the equity-like risk correlation HY carries; investors get better risk-adjusted returns in investment grade bonds or by owning equities directly
“we continue to remain underweight high yield”
Bloomberg TV uncut 2026-10-21 08:00 ET (30 min)
2026-10-16
GOOGL
bullish
Bloomberg TV (uncut) · uncut_tv
Google's AI cloud business is generating approximately 50% incremental operating margins, demonstrating that hyperscalers are successfully monetizing robust AI demand, and the recent stock selloff is rate-driven rather than a sign of fundamental deterioration
“Google specifically, incremental operating margins are worth a 50%, that's a good business”
Bloomberg TV uncut 2026-10-16 15:29 ET (30 min)
2026-10-16
US LARGE CAP EQUITIES
bearish
Bloomberg TV (uncut) · uncut_tv
Communication services and tech together comprise roughly half the S&P 500, making the index dangerously concentrated in big tech and AI names, which justifies a modest underweight as a risk-management exercise even though underlying AI fundamentals have not…
“we're modestly underway US large caps just from the concentration risk”
Bloomberg TV uncut 2026-10-16 15:29 ET (30 min)
2026-10-16
SEMIS
bullish
Bloomberg TV (uncut) · uncut_tv
The semiconductor selloff is rate-driven not fundamental — GPU rental spot markets and memory pricing show no weakness, so the AI trade has not rolled over yet
“for a concern to really translate into outright worry, I want to see the fundamentals roll over”
Bloomberg TV uncut 2026-10-16 16:29 ET (30 min)
2026-08-10
AMZN
bullish
Bloomberg Surveillance · video
Amazon and Google will see continued compute infrastructure monetization improvement over the next 12 months as GPU rental prices rise and contracted rates firm, distinguishing them from fringe AI players that face financing indigestion.
“rental prices for GPUs are on the rise and contracted rates that they have on their books are likely going to be”
Bloomberg Surveillance 8/10/2026
2024-08-27
US SMALL AND MIDCAP EQUITIES
owns
Bloomberg Surveillance · video
US small and midcap start at lower valuations than large caps where equity risk premiums have compressed to 3-4%, offering better long-term risk-adjusted returns as rate cuts provide a tailwind for smaller companies
“that's not the case with US small and US midcaps... which is why we're starting to position a little bit more overweight”
Economics vs. Stocks | Bloomberg Surveillance | August 27, 2024
2024-08-27
USTS
bullish
Bloomberg Surveillance · video
High quality fixed income is competitive with compressed large-cap equity risk premiums and provides optionality for both hard and soft landing outcomes, with declining rates boosting prices
“what serves this optionality... we think it's in high quality fixed income”
90d -2.2% · 180d -2.0% · 1y +2.1%
Economics vs. Stocks | Bloomberg Surveillance | August 27, 2024
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