The call of the day: Byron Wien, the BlackStone Advisory Group vice chairman, is one of those guys you just have to listen to when he speaks up. And speak up he did on CNBC, calling for a big market selloff.
“Eventually corporate fundamentals will take over, and I think they’re going to be disappointing,” he said in the interview. Wien also recommended buying gold GCJ3 +1.14% as an insurance policy. He sees it going to $1,900 an ounce.
it will go to $3000-$5000 an ounce but not before it drops below $1500, if we have a BIG market correction, look back at gold in Jan. 09 it dropped 25% from $1000 then went from $750 to where it is now.