Brian Belski is chief investment strategist and leader of the investment strategy group at BMO Capital Markets. He has more than 24 years of experience in the investment industry, having previously worked as chief strategist at Merrill Lynch and Oppenheimer & Co.
In his current role, Belski provides strategic investment and portfolio management advice to both institutional and private clients. ETF.com recently caught up with him for his views on the U.S. stock market and which sectors look attractive.
ETF.com: What makes you so bullish on U.S. stocks?
Brian Belski: First of all, everything that caused the August pullback in the stock market we knew—there was no real big surprise that caused it. We think it was just about fear and emotion.
Secondly, we firmly believe any time you see major strategists from all the big banks drop their numbers at the same time after being much more bullish earlier the year, that's usually a pretty good contrarian signal.
Number three, when I go out and talk to my retail and institutional clients around the world, zero percent of them are expecting any kind of rally in the fourth quarter. The majority are expecting kind of flattish performance and/or negative performance.
Worries about the Fed, about commodities, about international growth and China have just kept everybody on the sidelines. We think earnings are going to be a little better than everybody else thinks.
People are going to be surprised on the upside. As the market starts to bounce here a little bit, you're going to have a catch-up trade happening and people are going to chase it higher.
This is more about momentum investing versus fundamental, but we're standing behind our 2,250 end-of-year target for the S&P 500.