Calls
22
#528
Alpha Score 47.9
Mark Cudmore
Executive Editor, Bloomberg Live / Macro Strategist
Win Rate
54.5%
return
-0.7%
Loading charts...
Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
May 07
$735.38
+1.0%
The AI-driven equity rally has legs to go further, as we are still in the inflation stage/bubble phase. The core momentum is higher and the rally will likely be more powerful than expected even from current levels, despite increasing volatility and rocky conditions.
Equity Indexes
Long
Jun 16
$46.05
+6.3%
Brent crude oil prices remain more than 20% above pre-conflict levels, US stockpiles are at record lows, and refilling storage will keep energy prices elevated for months. This persistent inflationary impulse supports a bullish oil outlook even with a potential Iran deal.
Commodities
Short
May 21
$185.82
+13.2%
The Korean stock market (KOSPI) has seen massive retail buying and is super volatile. Despite strong fundamentals and tailwinds from Nvidia and averted Samsung strike, I think Kospi has downside in the short term, with more correction to come.
Equity Indexes
Short
May 15
$427.21
+13.8%
Higher yields and a stronger dollar are negative for precious metals like gold. The macro environment points to lower risk assets and lower precious metals as the market refocuses on inflation and supply distortions.
Commodities
Short
May 14
$84.80
+0.4%
Bond yields have much more room to rise as inflation pressures persist from supply chain disruption (Strait of Hormuz), strong demand, and fiscal spending, leading to further bond price declines.
Bonds & Rates
Long
May 11
$189.51
-14.9%
The KOSPI has surged 230% since April last year, yet on a forward P/E basis it is near the cheapest it has ever been because earnings growth has outpaced the price gains. This unique combination of a strong rally and cheap valuation makes Korean equities attractive.
Equity Indexes
Short
May 18
$736.05
-0.9%
Stocks face a multi-week selloff due to post-summit focus on unresolved Strait of Hormuz tensions, bonds already priced in, and dip not quickly buyable.
Equity Indexes
Short
Jun 19
$59.51
+15.0%
Higher US real yields and a strengthening dollar are bad for speculative assets that depend on a weak dollar and lower real yields. Precious metals are a perfect example, with more downside expected in gold and silver.
Commodities
Long
Jul 16
$539.19
-3.4%
The AI semiconductor capex cycle still has room to run; hyperscalers are not cutting spending yet, and until they slash capex, the theme remains positive. The market is in a volatile stage that could last another six months, but the base case is staying long semis until a capex reduction signals the end.
Thematic ETFs
Long
Jul 14
$83.97
+0.6%
The Fed is expected to be live for a July rate hike, but ultimately they will not hike, disappointing hawkish market pricing. This supports a long position in US Treasuries as yields should fall when the Fed fails to raise rates.
Bonds & Rates
Long
Jul 02
$299.32
-1.8%
If the NFP print is strong and pushes up July hike expectations, it will initially be problematic for high-duration growth/tech stocks, causing short-term pain. However, higher yields driven by a resilient economy are ultimately positive for value names and small-cap stocks that are more exposed to the economy. This will improve market breadth even though the larger-cap tech names will weigh on overall index returns.
Equity Indexes
Long
Jun 29
$714.60
-2.9%
July is likely to start positively for equities because earnings should be pretty good, US macro data has held up, companies guided expectations low for easy beats, and Micron's earnings showed the AI CapEx bubble continues. The main risk is getting through this week's event-heavy calendar, after which the backdrop looks optimistic.
Equity Indexes
Long
Jun 25
$1234.00
-31.7%
Micron's impressive earnings and margins reaffirm that the AI capital expenditure bubble still has plenty more room to inflate; the bubble's volatile end phase could last months, potentially through year-end, while chipmakers make huge profits.
AI Memory
Long
Jun 23
$48.27
-0.7%
The war-related inflationary impulse appears to be ending as a peace deal looks likely. This should bring some relief on the yield side, potentially allowing European bonds to rally, even though the move may be marginal for equity markets.
Bonds & Rates
Short
Jun 18
$43.29
-13.0%
Oil prices have further near-term downside because President Trump is determined to get the deal through and lower oil prices ahead of the midterms, even as his team is divided. However, the risk of a sharp upside shock remains if the fragile deal breaks.
Commodities
Showing 15 of 22 calls · sorted by mentions
Choose a mentions count to open ticker posts.
Mark Cudmore has 22 trade ideas tracked on Buzzberg across 18 tickers since February 2026. Win rate 55% across 22 evaluated calls, average return -0.7%. Ranked #528 on the Buzzberg Alpha leaderboard. Most covered: SPY, EWY, BNO.
