Founder & CIO, Strategic Value Partners
4 dated public stances tracked since 2026-05-05, most recently 2026-10-26. 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 Victor Khosla'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. Victor Khosla 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 |
|---|
| 2026-05-05 | High Yield | bearish | -0.7% | +0.9% | — |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|
| CHEMICAL INDUSTRY DISTRESSED CREDIT | 1 | | 1 bullish | 2026-05-05 |
| HOMEBUILDING / BUILDING PRODUCTS DISTRESSED CREDIT | 1 | | 1 bullish | 2026-05-05 |
| High Yield | 1 | | 1 bearish | 2026-05-05 |
| Private Credit | 1 | | 1 bearish | 2026-10-26 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-10-26
Private Credit
bearish
Bloomberg The Close · video
2022 vintage direct lending deals will disappoint, returning only 2-3% rather than the targeted ~10%, as compounding macro headwinds—persistent inflation, higher-for-longer rates, geopolitical stress, and ongoing redemption pressure at open-ended credit…
“I think indirect lending, you will not take percent. You might make 2% or 3%.”
Anthropic IPO, AI Financing & Markets Rally
2026-05-05
High Yield
bearish
Bloomberg The Close · video
30% of the European HY market is economically stressed — western Germany heading into recession, real estate in a multi-year slow-moving tsunami — creating a large special-situations opportunity set with operational improvement upside
“30% of the overall high-yield market struggling. Western Germany probably going into a recession”
90d -0.7% · 180d +0.9%
Day 2 From the Milken Institute Global Conference | The Close 5/5/2026
2026-05-05
CHEMICAL INDUSTRY DISTRESSED CREDIT
bullish
Bloomberg The Close · video
Chemicals are at a 20-year cyclical trough, creating a generational distressed buying opportunity with meaningful operational restructuring upside for an active special-situations investor
“Chemical businesses once in a 20-year down cycle”
Day 2 From the Milken Institute Global Conference | The Close 5/5/2026
2026-05-05
HOMEBUILDING / BUILDING PRODUCTS DISTRESSED CREDIT
bullish
Bloomberg The Close · video
High rates, oil shock, and software-sector contagion have driven homebuilding and building products into a cyclical trough populated by under-managed businesses, offering operational improvement upside on top of an eventual cycle rebound
“anything associated with home building or building products, it's in the tank”
Day 2 From the Milken Institute Global Conference | The Close 5/5/2026
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