Feb 25, 2010
by Aaron Task
Yahoo Finance
The author quotes Miller Tabak equity strategist Peter Boockvar stating that it is almost impossible to say where the market is going to go due to the overwhelming influence of policymakers worldwide, which he says has forced market players to become political scientists. Focusing on fundamentals, return on equity, economic data doesn’t work because they are all waiting to see what the market responds to.
The Fed's plan to end its program of buying mortgage- and agency-backed paper on March 31 is the next scheduled event with an uncertain market impact. Boockvar went on to state that he did not think Bernanke is going to be able to get through this smoothly. Of course, all this government involvement is a direct result of the massive bailouts of 2008-09. To read the entire article go here.
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