Fox Business: Michael Landsberg Talks Markets on Making Money with Charles Payne

April 7, 2026

While acknowledging strong earnings momentum supporting equities, Michael Landsberg, CIO of Landsberg Bennett Private Wealth Management warned that rising inflation, driven largely by energy, could become a meaningful headwind. His perspective focuses less on reacting to what has already worked and more on preparing for what may come next.

He notes that market leadership has become increasingly narrow, with capital heavily concentrated in a small group of names. Rather than following that crowd, the focus shifts toward areas that have received less attention but may offer a more balanced risk-reward profile.

Earnings strength continues to provide support, but that support is not without risk. Inflation pressures, particularly those tied to energy, remain a variable that could influence both policy decisions and market behavior moving forward.

The approach is not about stepping away from the market. It is about adjusting how exposure is built, reducing reliance on concentrated positions, being more selective, and structuring portfolios to handle different economic outcomes without depending on a single narrative.

Key Takeaways:

1. Shift Away From Concentration: Landsberg emphasized that many investors are overly exposed to a small group of dominant names. “Most everybody has all the seven and they have probably too much of them,” he said, highlighting the need to look beyond crowded areas for new opportunities.

2. Broader Market Opportunities Emerging: He pointed to the rest of the market as a key area of opportunity, noting that these segments are “underowned, underloved,” and increasingly attractive as growth rates begin to converge with more crowded parts of the market.

3. Inflation Pressures Are Rising Faster Than Expected: Landsberg warned that inflation is moving higher more quickly than anticipated, driven largely by energy prices. If sustained, this could begin to weigh on corporate margins and influence policy decisions.

4. Earnings Continue to Support Markets: Despite macro concerns, earnings remain strong. “This is the sixth quarter in a row of double digit earnings growth,” he noted, reinforcing the idea that earnings momentum is still a key driver of market resilience.

5. Stay Invested, But Adjust Risk: Landsberg stressed the importance of staying invested while managing exposure carefully. “You have more risk not being in the market than being in,” he said, while also advising caution: “Maybe take your foot off the gas a little bit.”

6. Balanced Approach to Uncertainty: Rather than making extreme moves, he advocates for a middle ground reducing risk without exiting the market entirely. This approach allows participation in continued upside while limiting potential downside.

7. Increased Focus on Diversification: He highlighted the importance of expanding into areas such as commodities, international exposure, and lower volatility segments, especially as investors remain underallocated in these spaces.

8. Preference for Lower Volatility Assets: In the current environment, Landsberg favors more stable, lower volatility investments that can provide steadier performance without relying on aggressive growth assumptions.

Landsberg’s message centers on discipline and balance. While strong earnings continue to support the market, rising inflation and concentrated positioning introduce new risks. His strategy avoids extremes remaining invested, but with reduced concentration and more diversified exposure. The goal is to participate in ongoing growth while maintaining control over risk in an environment that is becoming less predictable.