Brian Belski, BMO Capital Markets chief investment strategist, joins ‘Closing Bell: Overtime’ to discuss the markets and his case for why he thinks the market has reached a bottom. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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So inflation's under control, the war's over, QT is complete, Covid is eradicated and China's lockdowns along with it, growth stock forward earnings calculations have adjusted to account for peak interest rates, rate's are no longer rising, the dollar's dropped, global oil supplies are now sufficient, and supply chains are back to pre-pandemic efficiency? Good to hear. Party on everyone 🍻
So Facebook changing their name to Meta have stuffed up the acronym FAANGS. (Not that Microsoft had a gurnsey.
What other acronyms could there be for the Big 5?
MAGMA
GAMMA
MMAGA !!
What if we include Netflix?
MAGMAN
FAGMAN
GAFMAN
But Google is really Alphabet, so that would make it three A's and two M's.
AAAMM
A MAMA
To hard. Let just stick to FAANGs
What about all the rate rises that are yet to come thick and fast?
They will drag the economy backwards and we are already in a technical recession.
To say you believe the market has hit the bottom without addressing the affects of 0.75 rise at the end of July, 0.5 mid September and and another 0.5 rise at the end of October isn't being honest and is overly optimistic.
We haven't seen the bottom yet. The economy will be in recession for all of 2023 as Monetary Policy plays out.
Address the macroeconomic situation folks. Don't get all starry eyed yet.
CNBC is a tool used by hedge funds & billionaires to manipulate the market , believe nothing they say !
This is the bottom, next week all major companies will report stellar earnings and crush it!
– but what happens if they don’t?
– yo, I trust my source “trust me bro”
Nope…. More 8 % to go down…
nonsense
That’s funny
I keep buying my targeted stocks on low days. They keep dropping and I keep buying. I'm running lower on cash though… down to about 20% cash. I'll keep buying the sale prices until I'm outta cash. gotta be greedy when others are fearful
The QE(s) in the early days hasn’t result in hyperinflation because it was focus on bonds and assets purchase which benefit companies more than individuals. This grow companies cash reserves and helps apple, google, Amazon joined the trillion dollars club. It will be interesting to see how fed is going to reduce their balance sheet with these companies without hurting the working class.
lol market bottom means another 20% down side coming
Recession is already priced in. I bought CVX days before Buffet, and sold at 178. As the CEO said weeks ago, tech is a now a generational buy, and as Cramer said, if you wait, it will be too late.
Brian Belski biggest clown of all. I been in markets for decades, the bottom doesn't come before heavy capitulation and at least -50% on indices. This is a bear bounce that will end very ugly, retail, don't get trapped, wait it out, you will not regret it, economy is in super bad shape, we are literally in worst conditions then 08, it just doesn't reflect right away like back then cause of Covid-stimmy cushion, but we sold as much 08 without a fast crash, so damage done is enormous, but this time have no Fed to help, it's the opposite, so as soon you get slightest Fomo in the markets we will tank immensely, this time with panic, not orderly like been so far, there will be no new highs for a very long time.
He seems only partially coherent
The way they are saying, it seems like stock markets will keep growing in the middle of a recession and thus prove the assertion that how disconnected the market is from the real economy.
Here, listen to someone sober – https://www.youtube.com/watch?v=CukHNrfqiCs
Crooks doing their best to serve lies.
Fight the trend much?
BS
Gas drops and everything does better. We are past the worst. Hooray. Shorts cover now.
This will age well
Anyone telling you that their is a bottom is just telling a story
He perfectly summarized last week rally "When growth is scarce growth outperforms". 🙌
Only a few investors buy stocks at discount during bear markets. All other investors buy at a premium during roaring bull markets. as for stocks to buy I've loaded up my portfolio with numerous tech stocks, the likes of AMC are the least on my mind now.
Bottom is in….. time to buy or wait it out and lose the opportunity
burned out his brain in a tanning bed..
I’ve never heard of any billionaire or millionaire who got rich accidentally it’s all premeditated. This brings me to why investing holds the most power when it comes to real wealth. What you do today determines your future financial status, I’m glad I started investing with Mr pen larry a long time ago and have made a way for myself and family.
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Belski permabull?
He must hang out with Cramer too much to claim the bottom again.
Want to make 👆🏾👆🏾👆🏾10x profits in crypto??
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He has said this since November so one of these 8 times he will nail it! GO BRIAN!!!!!!!!!!!!!!!!!!!!!!
If you’re a modern investor then your main aim I guess would be to take home profits for yourself and family especially during times like this when reading the charts are extremely difficult due to its chronic volatility. Well good-news you don’t have to worry about how this will will come about just commit investments with Mr pen larry and the rest will be good history of profits for you
Fantom FTM 🚀👀
Fantom FTM 👍👍👍
Fantom FTM 😄😄d
Dead cat bounce…… sentiment manipulation.
IMO, based on macro fundamentals for consumers, we aren't even close to the bottom
He won't know the bottom if he sat on it 😱😄
wow he was spot on
He's been calling for a bottom since February,. Sure, he'll be right one of these days inevitably.
I have come to realize that as a beginner you will achieve close to nothing investing in the vast stock market all on your own, that's why there are professional stockbrokers and account managers to assist beginners to achieve their financial and stock investment goals.
wow, only 65% have beaten LOWERED GUIDANCE. this guy is a joke. QT DOUBLES in 5 days