Belski Picks Best Debate Stocks on Economics & Politics Panel
Outside the new U.S. Bank Stadium in Minneapolis, the site of an economics and politics panel hosted by Tealwood Asset Management.
As we enter presidential debate season, there are four stocks everyone should own, believes Brian Belski, chief investment strategist at BMO Capital Markets, who spoke on an “Economics & Politics” panel in Minneapolis last week. They are:
• Comcast, because up to 100 million people were expected to tune in for round one. (The actual count was more like 85 million.)
• Costco, where everyone goes each Saturday to get “that big, giant tub of cheese balls” for snacking while Clinton and Trump exchange barbs.
• Brown & Forman, the maker of Jack Daniels, for obvious reasons.
• And Coca-Cola, for the whiskey and Cokes that everyone will need to get through the final push of the political season.
Belski was joking, sort of, adding a lively touch to a panel hosted by Tealwood Asset Management. “The topic of the election and the marketplace is on everybody’s mind,” said Tealwood’s CEO Charlie Mahar, who moderated the event.
Belski said in most of the places he goes, like New York and other financial centers around the world, people are predicting a victory by Hillary Clinton. But “in Texas they’re not saying that,” he says. “The polls are not unlike before Brexit. I would be very careful” in predicting who will win this election. “We’re involved with emotion and psychology. People are unlikely to say they’ll vote for Trump,” but then may do so in the privacy of the voting booth.
Dave Kansas, the COO of Minnesota Public Radio and formerly a Wall Street Journal columnist, echoed the comments about unpredictability. “There is a sense we are in an unusually messy election,” he said, adding he recently talked to a truck driver who had raised four daughters, paid for their college, and now thinks the status quo is a mess. “I just want to blow the whole place up,” that trucker said to Kansas.
Belski is bullish on stocks close to home. “I call Europe a declining asset,” he said, whereas “the U.S. gross domestic product has gone up for the last 12 months. There’s awesome stocks here, in the U.S. and Canada, so don’t try to be too smart.”
Tealwood Asset Management holds an annual meeting for clients, this year in September in the new U.S. Bank Stadium, home to the Minnesota Vikings.