Peter Boockvar – Gold Will Be The Last Man Standing
KingWorldNews.com
June 27, 2016
On the heels of the historic Brexit “Leave” vote and the massive turmoil that ensued in global markets on Friday, today Peter Boockvar says gold will be the last man standing.
Here is a small portion of what Peter Boockvar wrote today in the aftermath of the historic vote by Great Britain to leave the EU: I’m sure you’ve read a lot over the weekend on the aftermath of the UK vote. Many have their predictions of what happens from here both in Europe and ripple effects throughout the rest of the world. Many have their fears about the fate of the EU and euro zone, the drawn out nature of the UK negotiations as the UK recession odds go higher, the Chinese quietly continuing their devaluation, etc…
Peter Boockvar continues: As there is no blueprint for what we are currently experiencing, I have to say how can any of us have any real conviction on any particular outcome from here. We can surely throw out all the different possibilities but only time will tell us which paths we go down. That said, we will always have some form of a reversion to the mean in both economic and market cycles and we are at the end I believe of a cycle that began in 2009. As is typically the case, market moves usually go further than the economic (or earnings) cycle both up and down. Valuations expand faster than earnings growth on the upside and do so also on the downside. It is why I like the market cap to GDP (or GNI or GNP) ratio as it measures the separation between the two.
The Rest…HERE
