brian belski is with us.en an optimist for any number of quarters and is quite the short crew to say the least. joining us also is jeff currie. jeff belski, can you buy currie's oil stocks? brian: sure we can. it takes tom keene to put on a 100 year chart. most of hours are 100 hour charts. our call from the stock perspective and looking at strategy is that clearly, commodity show super cycles overtime. we believe there is a high likelihood that wti find a range here and i think that could be very positive over the long-term. energy companies are not great capital holders. because the chase the commodity in either direction. tom: that is exactly where i wanted to go. allocating i look at capital and we have lots to talk about. currie, can oil companies in europe continued to pay the dividends at $50 a barrel that with they were comfortable paying with $100? or do they become like the anglo-saxon oil companies? jeff: these companies destroy wealth. and right now they are not focused on return on equity. they a

steve ratner and brian belsky are with us. ? >> we recently revised our year end target to 2250 which should come as no surprise. we talked about the s&p 500 being mired in a range. marking to market and saying the market will be at the high end of our trading call range. we think this is more about trade --as the risk on i'm sick of talking about it -- clearly, the fed has shown is that they will not show -- raise rates until they have to. we think the market will be higher. is a good example but the momentum traders on near-term. institutional portfolio markets will chase the market near-term. david: what underlines that call? is this a question of topline growth? >> we run a three-pronged product with respect to her target, rep -- macro regression, earnings, and discount and you're looking at modeling and his interest rates may remain low, interest rates remain high, margins will continue to be high-end we will squeeze out more of the multiple. it's all about momentum, not so much fundamentals. we will see some sort of correc

david westin, jon ferro, and myself spoke with brian belsky, the capital markets chief investment strategistget to 2250 should, asbecause we talked about stocks in 2015 being mired are we put50 range p that out in november last year. it is not a surprise we are saying the market will be at the height of the trading inmate. we think this is more about momentum. i am sick of talking about risk on an risk off. shown do asclearly i do and not as i say. she will not raise rates until she has to. will be the market higher. daily guest today yesterday with low volume is a good example. , it will change the market. >> is this an expansion of the margin or a question of topline growth? three-pronged a product. discountt the dividend model. as interest rates remain low, the premium remains high. margins will continue to be high and we will squeeze out more of the multiple, all about momentum and not so much fundamentals. we will see some sort of a correction a fan of the day. we think it will come later. >> what do you like? you do have inflation picking up and yield curve and less growth and higher e