In a new note to clients published Friday, BMO chief investment strategist Brian Belski — one of the Street’s staunchest bulls who was quick to call the market turnaround back in 2022 — argues that the uncertainty and fear of this market moment is no reason to rip up your view on markets and the economy.
“Given the increased negative banter and many macro forecasts being revised to the downside, we have been inundated by clients on not only our opinion, but more directly — why we are NOT changing our view,” Belski wrote.
In addition to not knowing the process of other firms and arguing that company-specific trends are being extrapolated to the broad market, Belski added: “Unfortunately, uncertainty generates emotion, which comes from fear. … To be blunt, we believe it is inappropriate to be changing forecasts for the sake of uncertainty and fear.”
On Thursday, the S&P 500…
