Veteran market strategist Brian Belski is disputing Bank of Canada governor Tiff Macklem’s warning that AI-driven stock valuations are “stretched,” calling such remarks “fear-laden.” Belski, who recently left BMO Capital Markets after 13 years as chief investment strategist, said AI remains early in its growth cycle and should be judged on fundamentals, not hype.
In an interview with The Logic, Belski announced his new advisory firm, Humilis Investment Strategies, based in Naples, Florida. He identified Canada’s banks, Shopify, Dollarama, Aritzia, and Couche-Tard as strong performers, while warning investors against speculative gold trades detached from fundamentals.
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