Brian Vendig's Bullish Market Outlook: Analysis of MJP Wealth Advisors' Equity Strategy

On November 5, 2025, at 11:35 AM EST, Brian Vendig, President & Chief Investment Officer of MJP Wealth Advisors, appeared on CNBC’s “Closing Bell” with a distinctly bullish market outlook, stating “This market is still a buy” [1]. This assessment came during a session of mixed global market performance, with US indices showing strength while Asian markets declined.

The market context for Vendig’s bullish stance reveals significant divergence between regions. US markets demonstrated robust performance with the S&P 500 gaining 0.39% to 6,796.29, NASDAQ advancing 0.61% to 23,499.80, and the Dow Jones adding 0.45% to 47,311.01 [0]. Notably, the Russell 2000 outperformed with a 1.47% gain to 2,464.78, suggesting potential small-cap rotation [0]. In contrast, Asian markets struggled, with the Shanghai Composite down 0.18% to 3,969.25, the Shenzhen Component falling 1.35% to 13,223.56, and the ChiNext Index declining 0.96% to 3,166.23 [0].

Sector performance analysis reveals patterns supporting Vendig’s strategic approach. Energy led with a 2.82% gain, followed by Industrials at +2.33% and Healthcare at +1.72% [0]. These sectors align with Vendig’s historical preference for diversification beyond mega-cap technology. Communication Services also showed strength at +0.99% [0]. Conversely, defensive sectors underperformed, with Consumer Defensive down 0.45%, Real Estate declining 0.11%, and Utilities falling 0.05% [0], suggesting risk-on sentiment.

Vendig’s bullish outlook is grounded in a sophisticated understanding of market dynamics and sector rotation strategies. Based on his previous market commentary, he has consistently advocated for a forward-looking approach, noting that “market’s going to forward price, right, six months out” [2]. This perspective suggests his current bullish stance may be anticipating favorable conditions through mid-2026.

The strategy emphasizes three key pillars:

1. Selective Technology Exposure
   : While maintaining some technology positions, Vendig has expressed concerns about high valuations in the sector, noting some AI winners trade at 40-60x earnings [2]. This suggests a more discriminating approach to technology investments rather than blanket exposure.

2. Sector Diversification
   : His preference for Healthcare, Industrials, and Energy reflects a strategic response to current market conditions. Healthcare offers defensive characteristics despite political headwinds and generic drug competition [2]. Industrials benefit from fiscal spending and infrastructure investments [2], while Energy is positioned to gain from potential dollar weakness [2].

3. Risk Management
   : The emphasis on diversification beyond mega-cap technology demonstrates prudent risk management given current valuation concerns and market concentration risks.

The strong performance of the Russell 2000 (+1.47%) compared to major indices suggests market participants may already be implementing similar rotation strategies [0]. This small-cap outperformance could indicate early validation of Vendig’s approach.

: Technology stocks continue trading at elevated multiples that may be unsustainable in a slowing economic environment [2]. The concentration risk in mega-cap technology could lead to significant market volatility if rotation accelerates.

: Ongoing government shutdown challenges and Supreme Court cases regarding presidential tariff authority create near-term market volatility and economic uncertainty [3]. These policy developments could impact corporate earnings and investor sentiment.

: Consumer spending weakness in certain segments and potential government shutdown impacts on economic data present challenges to sustained market gains.

: The current market environment presents opportunities in Energy (+2.82%), Industrials (+2.33%), and Healthcare (+1.72%) [0]. These sectors offer both growth potential and defensive characteristics.

: The Russell 2000’s outperformance (+1.47%) suggests opportunities in smaller companies that may be less affected by valuation concerns [0].

: Continued fiscal investments in infrastructure could benefit Industrial sector companies aligned with government spending priorities [2].

: Despite valuation concerns, the artificial intelligence investment cycle continues, creating opportunities in selectively valued technology companies [2].

Brian Vendig’s bullish market assessment on November 5, 2025, reflects a nuanced understanding of current market dynamics. His strategy emphasizes selective exposure to high-growth areas while maintaining diversification across sectors benefiting from structural trends.

The market’s technical recovery, with US indices showing strength while Asian markets declined, supports his optimistic outlook. Sector performance data reveals rotation patterns aligning with his investment philosophy, particularly strength in Energy, Industrials, and Healthcare [0].

However, significant uncertainties remain that warrant attention. High valuations in technology, policy uncertainties from government shutdown challenges, and potential economic headwinds create a complex investment landscape [2,3].

Vendig’s approach of combining growth opportunities with risk management through sector diversification appears well-suited for current market conditions. The emphasis on forward-looking analysis and six-month time horizons suggests his bullish outlook is based on anticipated improvements in market fundamentals and policy clarity.

The divergence between US and Asian market performance, coupled with small-cap outperformance, indicates investors may already be implementing rotation strategies similar to those advocated by Vendig. This market behavior could provide early validation of his investment approach.