Market strategist Brian Belski predicted a market rebound for 2023 and a return to normal territory in 2024 on “Varney & Co.” Monday. Belski also said the current market has investors “massively bearish,” but urged others to avoid making comparisons to 2008.
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BRIAN BELSKI: Any time you have a very negative start with the first nine months of the year, especially to the tune of down over 20%, usually pertains to a double-digit increase in terms of prices for the fourth quarter. We’re banking on that. I’ve been traveling basically nonstop since Labor Day still, and clients are massively bearish. They’re more bearish than 2008. Please, for the love of you know who, do not talk about 2008. This is not 2008. There’s nowhere near 2008. And we think this is a garden variety type of correction that is, to some degrees, unprecedented with respect to what we’re coming out of — but I do believe 2022 is the reset and 2023, 2024 is going to be more of this return to normalization as we normalize across the board.
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