Fox Business: Michael Landsberg Joins “Making Money with Charles Payne” to Talk Stock Market Outlook

January 23, 2026

In this Fox Business segment, the conversation quickly moved past the usual market chatter and into what is actually driving results. Michael Landsberg, CIO of Landsberg Bennett Private Wealth Management framed it around a simple disconnect: investors keep bracing for problems that the numbers are not fully confirming, while earnings keep doing more of the heavy lifting than the headlines suggest.

Landsberg said inflation fears still look inflated, largely because energy, a key contributor to price pressure, has been trending lower. He also argued that the same pattern has repeated: markets obsess over macro storylines such as tariffs, politics, and central bank speculation, while earnings strength gets discounted until it shows up in black and white.

He kept coming back to one idea: markets ultimately follow profits, not predictions. In his view, investors who stayed invested and stayed anchored to earnings have tended to fare better than institutions trying to trade every headline. He added that some companies are seeing gains not from hype cycles, but from practical AI adoption inside core operations that improves efficiency and execution.

Key Takeaways:

  1. Inflation fears remain overstated: Energy remains the dominant driver of inflation trends. With oil prices rolling over, Landsberg does not see evidence of renewed inflation pressure. He believes inflation is being overestimated, unlike earnings which were underestimated.
  1. Earnings matter more than percentage “beats”: Landsberg focuses on absolute earnings growth rather than whether companies exceed analyst expectations. Wall Street forecasts lagged actual results, forcing analysts into repeated upward revisions. Investors who relied on data rather than narratives benefited accordingly.
  1. Wall Street sentiment lagged fundamentals: Tariff concerns and political headlines weighed heavily on institutional positioning. This emotional response caused persistent underexposure to equities. Retail investors who stayed invested were rewarded
  1. Federal Reserve leadership is less important than earnings: Landsberg cautioned against overemphasizing who chairs the Fed. Market performance has remained strong despite constant speculation. Corporate profitability continues to be the primary driver of stock prices
  1. “Boring” businesses can produce durable returns: He highlighted businesses providing essential infrastructure rather than speculative growth. These entities often operate behind the scenes but benefit directly from long-term demand trends. Reliability, not excitement, can drive consistency.
  1. Consumer behavior shifts are creating new winners: Changes in spending habits, resale markets, and discretionary preferences are influencing growth patterns. Companies aligned with value-conscious consumers have seen meaningful revenue expansion
  1. AI adoption favors operators, not just developers: Landsberg distinguished between companies building AI tools and those using AI to improve efficiency. Fraud detection, automation, and service optimization are becoming profit drivers. This operational use of AI can enhance margins without relying on hype

Landsberg’s message was clear, markets are not being driven by speculation alone. Inflation concerns continue to fade, earnings remain stronger than expected, and investors who stay grounded in fundamentals are being rewarded. While headlines shift daily, the long-term trajectory remains tied to profitability, disciplined analysis, and businesses that quietly execute rather than chase attention.

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