RiskReversal Pod Brian Belski: Meet The New Price Target, Same As The Old Price Target
Jul 9, 2025
Brian Belski, Chief Investment Strategist at BMO Capital Markets, shares his insights on navigating market volatility and his S&P 500 price target of 6,700. He discusses the influence of tax cuts, trade deals, and the geopolitical landscape on market performance. Belski emphasizes long-term investing strategies, sector preferences in tech and consumer discretionary, and the importance of rigorous analysis. The conversation also dives into value investing, small and mid-cap opportunities, and potential challenges ahead, including the specter of a bear market.
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Discipline in Market Targets
- Brian Belski emphasizes a disciplined, academic approach to market targets and earnings projections.
- He trusts his team's process and sticks to fundamental investment theses regardless of short-term market noise.
Fundamentals Drive Stock Picking
- Belski's investment strategy prioritizes long-term fundamental stock picking.
- He focuses on valuation, earnings, management, and product-market fit within sectors and benchmarks.
Sector Overweights and Themes
- Belski maintains overweight positions in technology, consumer discretionary, communication services, and financials.
- He sees deregulation and consolidation in financials as key earnings drivers going forward.