Alastair Pinder
ON THE RECORD · 5 verbatim quotes · every quote source-verified
“With US semiconductors trading on a 12-month forward PE of 13.5x after a 45% de-rating since June, how much more pain is there to price?”
Alastair Pinder · said 2026-11-09 · reported 2026-11-11
Pinder questioned how much more downside remained for US semiconductors after significant de-rating.
“The rotation into defensives looks extreme,”
Alastair Pinder · said 2026-11-09 · reported 2026-11-11
Pinder noted the rotation into defensive stocks appeared extreme amid tech sector volatility.
“Walmart trades on 40x forward earnings, near a record high, while Nvidia trades on 13x, near a record low.”
Alastair Pinder · said 2026-11-09 · reported 2026-11-11
Pinder contrasted Walmart's near-record-high forward earnings multiple with Nvidia's near-record-low multiple.
“The market is already pricing greater execution risk and capex delays,”
Alastair Pinder · said 2026-11-09 · reported 2026-11-11
Pinder was referring to the development of artificial intelligence when describing market pricing of execution risk.
“vicious, and in our view, overdone.”
Alastair Pinder · said 2026-11-09 · reported 2026-11-11
Pinder said in a note on Monday that recent moves in stock markets had been overdone.