brian belski is back with us. are we seeing return of bullish brian belski?re you back to your old habits? >> oh, sure, stuart. i was always bullish. just a little less bullish this year relative to the past but we still think the lows were made in october, stu. we still believe that a new cyclical bull market has started the nasdaq has been up five weeks in a row, that many of those stocks were the ones that were hurt the most last year, so we've seen some portfolio repositioning, stuart; however, we do believe that the market could be a little soft here in february given the big move in january and that's okay, because stocks are rarely linear for long and i think many investors have been surprised on how good earnings have been which has been our call all along and now, the biggest conundrum or really uncertainty is what's going on with unemployment. unemployment remains very very low and everyone now seems to want to push out the recession but what if the recession doesn't even happen? i think that's what you have to start thinking about. stuart: is that

first ultrabear, call him ultrabear, megabear, something like that brian belski?own where the market goes from here. here is the thing, i think leadership surprised even the great bull. we'll be right back. ♪. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. ♪. charles: it's little bit choppy here in the markets. i'm not too concerned month to date, even sometimes year-to-date. long-term trends do matter more and here's the thing, folks, the long-term trend ultimately has been to the upside. still wall street a little bit frustrated because they thought this year, at least in the beginning it would be down. with me bmo capital markets, their chief investment strategist brian belski who did not think it would be down. >> i did not. >> did not. here is the thing that is really amazing last couple weeks. wall street is digging its heels in. mike wilson sai

long overdue, such an opinion was shared for the chairman of the council of the republic by valery belskying the constituent assembly to create a new political party. according to him, today it is necessary to consolidate the belarusian society, and such a party will express the interests of our people, as a whole , delegates from the partizansky district of the capital were elected today to the congress, which will be held in minsk on march 18. the initiative group consists of people of different ages and professions. our congress in the capital will approve the charter and program and determine the principles of activity , the goals and tasks of the new structure. a respected call for the creation of such a party in society is long overdue, we need further consolidation, it is necessary to build a political institution that will be a permanent, linking link between society and power; such institutions are being created in our country in the form of a people's assembly, but still the party has its own characteristics. it can mobilize to demonstrate unity to secure the will of the people.

the correct answer to the question was option a nikolai bogdanov belsky the seventh question of the in terms of the number of stations a moscow b beijing c new york time? artyom i remember that there are more than seven lines in the moscow metro, if everything is correct there, it seems to me, much more than families, which there, they seem to me to be ill here. right there, yes, i randomly answered. and what did moscow answer, new beijing, new york, can you imagine, these are big cities, i can imagine. uh-huh and valeria as petin answered well, i think that beijing will be located. yes of course, absolutely right. what version did you answer? ny? uh-huh well, it seemed to me that he was more than all of these cities. it 's wonderful. as you think. alina if new york, uh, the winner is in this question, then how many stations can it be 100 good valeria, how many does the winner have will accurately checked the answer to this question. this is an option in new york 472 subway stations in beijing subway 428 stations in moscow 250. here is the subway map this is new york, let's move on

of the pictures of oral counting in the rachinsky folk school and its author was nikolai bogdanov belskys option a nikolai bogdanov belsky the seventh question of the metro. in which city is considered the largest in terms of the number of stations a moscow b beijing c new york time? artyom i remember that there are more than seven lines in the moscow metro, if everything is correct there, it seems to me, much more than families, which there is something, it seems to me more, just like that, yes, i answered at random. and what moscow new beijing new york answered, can you imagine, these are big cities, i can imagine hugo and valeria how she answered. well, i think yes, of course. quite right. what version did you answer? ny? uh-huh well, it seemed to me that he was more than all of these cities. it 's wonderful. as you think. alina if new york, uh, the winner is in this question, then how many stations can it be 100 good valeria do you think, how many of the winner will have exactly checked the answer to this question. this is an option in new york 472 subway stations in beijing subway 4

we have bmo chief market strategist brian belski.ow we hear things and how we respond, why are you hearing a different message from the markets than most of your colleagues? >> that is a great question. thanks for having us. as we model the market last 30 plus plus years on wall street, last 20 i've been top at the list of the paper to do a market model. we rely on pe model, a macromodel to look at the markets. the macro model for all intents and purposes has been wrong 13 out of 14 years. last year it was right t really told us that the market was being controlled by macrofactors. typically, historically stocks are led by fundamentals. why we stayed as bullish as we have been for a longer-term perspective. in terms of the low quality rally, this is pretty textbook stuff, charles, the low quality stuff begins to lead after coming out of a bear market. same thing happened in 2009. didn't see a change in leadership until july, august of that year. low quality, emerging markets, commodities, prior cycle leadership really leading us. i t

the audience i'm talking to not the viewers because they get it i'll go slower for lebenthal and belski on set. you don't have to own anything, right? i own bank of america because if i sell it, the tax will be significant. so i have to think of, okay, if i sell it, what's it going to take for me to recover it? >> weiss, that was fun that was steve weiss i will end with a question to you. if things are so great, as you suggest, and the economy is soap good, as you think it will continue to be, why haven't these stocks matched the optimism you feel in the economy? are you only going to tell me what you tell me when i ask you the same questions about airlines and autos because the overhang of recession fears are overhanging these stocks, too? >> i differ with the premise of your question, look at goldman sachs, citigroup they are doing quietly kind of well one thing i just want to say, let me make this point on the economy is good now, but how is it going to turn out it was june of last year jamie dimon issued the hurricane comment. it was june of last year that's eight months ago, and we

i have best to shed light and strategies, brian belski and bob doll. i will is tracy shuchart, what the heck happened to oil? that was supposed to be a slam dunk. sven hendrichs is here. is the market too come place sent when what if october was the low? how high could the rally bo? ken any polcari has some answer. another mistake by the biden administration that will cost tax iers tens of billion of dollars. auld that and more on "making money". ♪. charles: all right, folks the plot thickens! so much has happened in the last 24 hours. here is the big thing turns out we riley did not know jay powell at all, right? think about this, the fed chair invoked paul volcker at every concern to underscore commitment to taming inflation but he never let on he was actually determined to do it without creating any significant economic damage. in other words, he think hes can engineer a soft landing. now here is the thing, eureka moment. we're living it right now, folks. you're watching this market explode, particularly high beta names. eureka, a he sitting in his

oh belsky why you little bit of a spoke or what a shot rationally a democracy i the storage unit where this where you have to rush, you least shanisha there that up. so you with them busy, ma'am? new was more of them be sir jimmy? manuel barnett. having received the information standin ordered marshal shook off to turn the army westwards. the allies understood a surprise attack, wouldn't work out. then. charger beckon clicking the dodging creek scuff hammond and saw to the automobile easier. tight. v. deutschland annoyed the buffalo chatham . jean chavez, de leon da, missouri in northland once it has to. but some of providence conte starting in for are the i was east and i see. so i found was mafia dar on charges are yeah, that be neat. nifty. for me. it damaging the inform him. these as dupage be like a dish. divest mr. blue, the double play continued. germany signed the surrender on may the 7th at the american command headquarters in the french city, a reins, stone and was furious. the soviet people had gone the main brunt of the war, but the surrender had been signed on french terri

he lives in shchyolkovo belsky is not responsible for anything why is he still not in prison?inue to wander through rented apartments, unfinished houses. no one guards building materials and electrical equipment and is simply stolen, despite the fact that the houses are in a high degree of readiness for communications. worker settings. haven't seen for several years. look at these houses. it's not just unfinished. these are not born. children. these are not created and destroyed families. these are veterans of our army, who, unfortunately, are no longer with us, who have left from life, without waiting for the bankruptcy procedure for a business land llc, it took a long time and the bankruptcy manager changed. as a result, the territorial development fund, the body that was supposed to decide on the future fate of the houses, did not hold a supervisory board. it was supposed to make a decision to pay compensation to people or finish building houses according to the law. this must be done in six months. after the developer was declared bankrupt, people even sued the territorial

our north double earth or a boat, that blood was morally way the brought your so yes, go say you belsky why you little bit of a spoke or what a shot russian a democracy. i name is tanya. that's why this why you have to rush you. mr. shanisha. very that up. so you with them busy, ma'am? new was more of them. b sir. jimmy, manuel barnett. having received the information, stone and ordered marshal shook off to turn the army westwards. the allies understood a surprise attack, wouldn't work out then. charger beckon, clicking deduction creek sca farmland and sorted out more vizier tut v. deutschland and annoyed the buffalo chatham. if even as java de leon da my story in not i trend on it as 2, but some of our veterans conte starting africa, was east and does she east austin bus mafia dar on charges? are you had that be neat, nifty for me it. tom was him him phone, given these as dupage be like, and dish, divest mr. blue. the double play continued. germany signed the surrender on may the 7th at the american command headquarters in the french city, a rims stone and was furious. the soviet peopl

the creation of a people's party in society is long overdue, such an opinion was shared by valery belskye council of the republic, during the founding meeting to create a new political party. according to him, today it is necessary to consolidate the belarusian state, and such a party will express the interests of our people, as a whole, today elected delegates from the partizansky district of the capital to the congress, which will be held in minsk on march 18, as part of the initiative group , people of different ages and professions at the congress in the capital will approve the charter and program and determine the principles of activity, the goals and objectives of the new structure. the request for the creation of such a party in society is long overdue; we need further consolidation; we need to build a political institution that will be a permanent, connecting link between society and government; we are created in the form of a people's assembly, but still the party has its own characteristics. it can mobilize to demonstrate unity to secure the will of the people. it should be th

bogdanov belsky is good. nikita and to whom will you give up your sympathies ? also answered option b korovin i don't know this picture. i have never seen this picture. perhaps we have n’t seen other art textbooks and didn’t know grief, i don’t know which way those who chose the option went, but you earn extra points for yourself option. and this is the correct answer to the question , let's move on to the tenth question. the name of which title comes from a word meaning big house, and baron b emperor c pharaoh? well, let's denis big house means pharaoh , earlier the ancient egyptians called their rulers perro, which meant a big house, and the ancient greta seemed to be in this word pharaoh, so i answered the variant tsefan, where are you from know the information from the textbook for the fifth grade in history, the first part is to add a big man, but a small house. well, actually , i don't know how. e, which meant the word baron, so i chose option b. ugu here you would go to such logic now. hey, ilya, which option did you choose? i chose the pharaoh option. wh

to do this, we invited valery belsky valeria ivanovich hello ekaterina deputy chairmen of the council of the republic of the national assembly of the republic of belarus professors and for a long time. he was assistant to the president for banking. valery ivanovich, please comment on, uh, the title, allegedly the belarusian authorities took over the banks, if we are talking about what the belarusian authorities yesterday took for uh, banks, then this is not so. uh, the authorities took over the banks. even 25 years ago they took up banks. it doesn't mean what the throat means, uh, in some cases. eh, as with other spheres, it means they picked it up and carried it through some kind of swamp. pro periodically has to be overcome in one area or another, well, now there is no such need, e just e, therefore, business and the state of the banking sector and the state interact. it is very constructive. here's yesterday's meeting - this is about how to continue to work the main norms, just relate to protection. e is right, for example, creditors in every belarusian who takes e, a loan in our b

overdue, such an opinion was shared by the deputy chairman of the council of the republic, valery belsky constituent assembly to create a new political party. according to him , the consolidation of the belarusian society, and such a party will express the interests of our people, as a single whole, delegates from the partizansky district of the capital were elected today to the congress, which will be held in minsk on march 18, as part of the initiative group , people of different ages and professions at the congress in the capital will approve the charter and program and determine the principles activities goals and objectives of the new structure. and we respect the request for the creation of such a party in society is long overdue, we need further consolidation, we need to build a political institution that will be permanent, as a link between society and power , such institutions are being created in our country in the form of a people's assembly, but still the party has its own characteristics. it can mobilize to demonstrate unity to secure the will of the people. it should be the

you've gotten calls, by the way, that october was the low new bull market started, labenthal, belski, they think it's a new cycle he says no, he being mike wilson no evidence to suggest that. did not lead to an immediate reversal he said while last week's events did not lead to an immediate reversal we also don't think they offered any evidence to suggest a new bull market began in october. >> not sure what gets us back to the october low. the probability of revisiting prices is very low i think it's reflected in what david at goldman sachs did today. 3600 to 4000 first half of 2023 was expected to be negative relative to what we'd see in the second half of 2023 the concern was for the front of the year. >> right >> that is being right now unwound. i think that investors should expect that the first half will probably be better i think the lag effects economically of what the federal reserve is doing will have to somewhat wait a little bit longer we will see it in the second half of the year. >> you want to address the elephant in the room maybe the whole year is better what people th

bogdanov belsky is good. nikita and to whom will you give up your sympathies?answered option b korovin i don't know this picture. i have never seen this picture. perhaps we have other art textbooks, i have never seen this picture and didn’t know grief, i don’t know which way those who chose the option went, but you earn yourself extra points for the option. and this is the correct answer to the question , let's move on to the tenth question. the name of which title comes from a word with the meaning a big house, and a baron b an emperor with a pharaoh? well, let's denis big house means pharaoh , the ancient egyptians used to call their rulers perro, which meant a big house, and the ancient greta seemed to be in this word pharaoh, so i answered the variant of cefan, where do you know the information from the textbook for the fifth grade on history, the first part is to add a big man, and small house. well, actually , i don’t know what the word baron meant, so i chose option b. uh-huh that's the kind of logic you would go now. hey, ilya which option did you choos

to do this, we invited valery belsky to valery ivanovich hello ekaterina, vice-chairmen of the councilsembly of the republic of belarus, professors and . he was assistant to the president for banking. valery ivanovich , please comment to me, uh, the title, allegedly the belarusian authorities have taken over the banks, if we are talking about that the belarusian authorities yesterday took up e, banks, then this is not so. uh, the authorities took over the banks. even 25 years ago they took up banks. it doesn't mean what the throat means, uh, in some cases. eh, as with other areas. this means they picked him up and carried him through some kind of swamp. which periodically has to be overcome in one area or another. well, now there is no such need, uh, just uh, so business and the state of the banking sector and the state interact. it is very constructive. here is yesterday's meeting - it's about how continue to work the main norms, just relate to protection. e, for example, creditors are right, every belarusian who takes a loan from our bank must be sure that there will be no excesses t

these runaway queues or with belsky, but in an interview only i'll tell you one moment.ne else to remember and, uh, this moment is often forgotten and ignored. after all, even at the moment when everything was on its knee. it began, but the military operation, yes, but there was a referendum on the territory of the lpr and the dpr , there was an opinion of the people. what people have decided. that is why the opinion of the people turned out to be, which then became under the control of the kiev regime and the people involved in the will, expressions. in what violations of the laws resorted to criminal people decided where the law is by the peoples, but i again but i want to project on us again, i want to say great things to us this way. remember these flirting, these flirting with deceit, that we are with the russians and these questions are cursory, as you and they think for a long time. come at the moment of the fruit, yes, the reform plan, then they quickly rubbed it out, because the indignation immediately receded from them , a large large number of people from thes