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Wall Street Views Weekly EP02 — Nobody's Leaving: Ives, Hoffmann-Burchardi, Belski, Cramer

Episode 2 · First aired Sunday, October 18, 2026, 8:00 PM CT

Inflation ran hot, AI infrastructure stocks got slammed, and great earnings still sent stocks down. Four Wall Street veterans — and not one of them is leaving. One calls the selloff a buying opportunity, one leans toward atoms over bits, one hands his top picks to cash-flow businesses, and one says the riskiest move right now is walking away. Who said what, the data and logic behind each call, and our one-line take.

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1. Dan Ives

Who he is: Co-founder of Yorkville Ives, the research firm he launched this year with Yorkville after nearly a decade at Wedbush — still the Street's loudest AI bull. His calls now come from Yorkville Ives, not Wedbush.
What he said: In an October 14 research note, Ives called the selloff in AI infrastructure names a buying opportunity, not a warning sign. The trigger, in his telling, was the 10-year yield pushing above 5% — and the harder the new cloud builders (CoreWeave, IREN, Nebius) fell, the more he liked them. His line: rates are a financing issue, not a demand issue; a 75-basis-point move in the 10-year does not reset structural demand for compute.; On Friday, October 16, he reiterated his Buy rating on Nvidia, with a $300 price target.
The data & logic: His conviction comes from channel checks. Yorkville's field research in Asia this week found deal activity accelerating in Korea and Taiwan, with chip demand running at roughly 13 units for every unit of available supply — about 13:1 — and the new cloud builders holding signed order backlogs rather than speculative capacity. He also named, in advance, what would change his mind: hyperscalers cutting capital spending, customers cancelling signed compute contracts, or GPU rental prices falling persistently. Watch demand signals, he says, not rate signals. None of those conditions has appeared.
Our take: The 13:1 is his firm's own channel number, with no official statistics behind it — remember the source. But an analyst who publishes his change-my-mind conditions up front is giving you something more useful than a price target.

Sources: TechDefused (Yorkville Ives note, Oct 2026); MarketWatch / Dow Jones (Oct 14, 2026); ad-hoc-news and Barchart (Oct 16, 2026) on the Nvidia reiteration.

2. Ulrike Hoffmann-Burchardi

Who he is: Chief Investment Officer for the Americas at UBS Global Wealth Management — this episode's new face.
What he said: On October 12, on CNBC, Hoffmann-Burchardi argued that AI could do to the digital economy what the internet once did to the physical one: AI coding pressuring traditional software, AI agents rewriting digital advertising and e-commerce. The market, she warned, is underpricing that disruption risk. UBS's preference follows from it — “atoms over bits”: lean into the physical economy, stay light on pure digital assets.; She is not bearish on AI. The market is splitting, she said: rate-sensitive companies are taking the hits, while the resilient camp is the AI build-out's “pick-and-shovel” suppliers — semiconductors and cloud computing — which have driven most of this year's earnings growth and, in her view, will keep driving it.
The data & logic: The week's data sat on her side. On October 8, TSMC posted record third-quarter revenue, up about 50% year over year, and Samsung estimated its Q3 operating profit at roughly 107 trillion won — nearly nine times a year earlier. When TSMC's full report landed on October 15 — revenue of $46.72 billion, above its own guidance range, net profit up 68.7%, gross margin of 66.4% — the stock still fell. Her prescription for exactly this tape: healthcare, biotech and pharma as the diversifier that plays offense and defense at once — defensive while the AI capex trade is under pressure, exposed long-term to AI adoption. A UBS note on Thursday added that one more strong earnings season could help stocks absorb somewhat higher rates.
Our take: Of the four, she is the only one who seriously raised the possibility that AI's winners can also be disrupted by AI — the most counter-consensus line of the episode.

Sources: Seeking Alpha and TradingView (Oct 12, 2026) on the CNBC interview; Reuters (Oct 16, 2026) on the UBS note; Reuters (Oct 8, 2026) on TSMC and Samsung; TickerOn and Global Brands Magazine (Oct 15–16, 2026) on TSMC's full Q3 report.

3. Brian Belski

Who he is: Founder, CEO and chief investment strategist of Humilis Investment Strategies, the firm he started after leaving BMO — one of Wall Street's most senior bulls. His views are Humilis views now, not BMO's.
What he said: On October 2, on Fox Business's Making Money with Charles Payne, Belski named three top picks: Spotify, Affiliated Managers Group and Casella Waste Systems. A music subscription business, an asset manager and a waste hauler — not one AI star among them. His reason: these are resilient businesses, built for long-term growth.
The data & logic: Underneath sits his long-cycle framework — dated honestly: at a PMAC conference keynote last November (2025), he argued the 25-year secular bull market that began in 2009 still has at least ten years to run, and that his playbook in a falling market is to buy more of what he likes. He said then that he does not see an AI bubble; his own AI list was Nvidia, Broadcom and AMD, plus Palantir, which he called “the Amazon of ten years ago.”
Our take: While everyone else chases compute, the Street's most senior bull handed his top picks to subscriptions, asset management and garbage collection. He is buying cash flow, not story — and that, in itself, is a position.

Sources: Fox Business official clip page (aired Oct 2, 2026); Investment Executive on the November 2025 PMAC keynote.

4. Jim Cramer

Who he is: Host of CNBC's Mad Money.
What he said: October 14 was the worst session since July. September CPI rose 0.6% month over month — hotter than expected — and futures markets quickly raised their bets on another rate hike at the end of October. The S&P 500 fell more than 1% and the Nasdaq dropped 1.9%. The strange part was earnings: Morgan Stanley posted solid results and fell nearly 3%; ASML reported strong numbers with a healthy demand signal and still closed down 4%. Even the bond market refused the script — yields spiked on the CPI print, then reversed lower, while oil kept rising. In a tape where data contradicts itself and good earnings go unrewarded, Cramer said, it is “hard to have conviction.”
The data & logic: His conclusion, though, was not to leave. He cited JPMorgan research: put $10,000 into the S&P 500 in 2005, and if you missed the ten best trading days of the following twenty years, you ended with less than half the wealth of staying invested. His question: sell everything and go home — could you really buy back in before those ten biggest up days? His own answer: no. His advice stayed old-school: stay diversified, invest on a schedule, rebalance regularly — no need to call a top or a bottom.
Our take: This time Cramer was not selling a stock; he was selling discipline. In a week like this one, the biggest risk may not be holding — it may be getting scared out.

Sources: TheStreet (Oct 15, 2026); CNBC report via freshblognews (Oct 2026); Wealth Professional (Oct 15, 2026) on CPI and the session.

EP02 at a glance

Dan Ives	The selloff is a buying opportunity — chip demand vs supply at 13:1
Ulrike Hoffmann-Burchardi	Atoms over bits; healthcare plays offense and defense
Brian Belski	Ten more years of bull market — top picks go to cash flow
Jim Cramer	Don't leave — miss the 10 best days, lose half

What we'll check next week

Do hyperscalers soften their capital-spending guidance?
Do good earnings start getting rewarded? (Next week's slate includes Netflix, Procter & Gamble and GE Aerospace.)
Does the 10-year yield hold above 5%?

Sources

Every figure on this page comes from the episode's verified source list — each claim cross-checked against two sources before the episode aired. Where sources disagreed, the figure was dropped rather than averaged.

Research and education only. The views quoted on this page belong to the named commentators and are summarised from the cited reports; our one-line takes are commentary. This page is not investment advice, not a recommendation, and not a promise of returns. Read the full disclaimer before acting on anything here.

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