'@AsherEdelman: "I don't want to be in the market because I don't know when the plug is going to get pulled"
— CNBC's Fast Money (@CNBCFastMoney) May 23, 2017
Legendary vulture investor Asher Edelman, the 1980s model for Gordon Gekko, strayed into what must’ve been uncomfortable territory for CNBC during an appearance on “Smart Money” when he discussed his view that the government’s “plunge protection team” is the only thing propping up the current market rally, and said he suspects that it has again been recently een intervening in the market to keep stocks at record highs.
Edelman simply notes that he doesn’t want to be in the markets right now because ‘I don’t know when the plug is going to be pulled.”
Few can explain the market’s recent resilience, holding near record highs despite weak economic data and intensifying geopolitical tensions. The main benchmarks have risen for the fourth straight day following last week’s ‘Trump Dump” despite a terror attack in the U. K., the worst soft economic data since February 2016, and surprisingly low trading volume.
This post was published at Zero Hedge on May 23, 2017.
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