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Peter Boockvar: “There Is 0% Chance That This Ends Smoothly”

Posted By admin On September 25, 2013 @ 5:15 am In Money Watch | Comments Disabled

Zero Hedge [1]
September 25, 2013

CNBC just aired a fascinating segment that pitted anchors Mandy Drury and Brian Sullivan (squarely in the markets-are-going-up-and-the-world-must-be-rosy camp) against a more skeptical (“it’s all short-covering” – and he’s right at the margin) Herb Greenberg and an awfully fact-based reality agent – Peter Boockvar.

The entire 5 minutes were a perfect reflection of the battle in the markets of the last few years – that of market wisdom and the facts versus the blind optimistic ignorance of watching (and trusting) a ‘market’ number (in this case the Dow Jones Industrial Average Index) rise day after day and not caring why – until – as Peter Boockvar so eloquently notes you have your 401(k) cut in half twice in a decade.

Well worth taking the time to witness the cognitive dissonance of believing the market strength is unrelated to the Fed and yet a Fed unable to Taper even a few billion for fear of repercussions… as Boockvar notes, “there is 0% chance this ends well.”


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[1] Zero Hedge: http://www.zerohedge.com/news/2013-09-24/peter-boockvar-there-0-chance-ends-smoothly

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