KirkLindstrom.com - Articles - 2012  - Gary Kaminsky on What is Really Going on With the Markets - Video and Transcript
Gary Kaminsky on What is Really Going on With the Markets.
  CNBC's Gary Kaminsky
 
Discusses What is Really Going on With the Markets
Kirk
                Windsurfing at Coyote Point November 2009
Analysts are saying one thing and doing another.
 

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November 15, 2012: THU 11:11 AM ET:  The next four years as it relates to the obama administration is not positive for stocks.  Gary says the big gains in stocks the past four years were due to Fed actions to print money inspite of president Obama. A partial transcript follows with key points highlighted, watch the video for the full impact.
 
Gary:  This could be the most important thing I've discussed in a long time.  ......saying that they were going to stay fully invested, that t loved equities, that the housing boom was nothing to be worried about. at the same time many people were beginning to short sell the market and sell. you know what happened with the nasdaq in 2000. what i see happening here is very simple. people are saying one thing and they're doing another. this is the point, carl. everybod knows that the last four years had nothing to do with the white house or anything in washington, d.c. stock markets around the world went up for one reason and one reason only, central banks pushing up equity prices. what is happening now is very simple. let me whisper and come and tell you this. carl, go back to you. we'll finish this in a second.  Breaking news inturuption .... transcript of Gary's statement continued below

 
Gary Kaminsky Video - THU 15 NOV 12 | 11:11 AM ET



 i have to make this point. i came into the control room. i didn't want to be interrupted. you have a bunch of strategists out there. adam parker, morgan stanley, goldman sachs, they are saying something and they're putting it in print. many other people are not putting it in print. it's simple. The next four years as it relates to the obama administration is not positive for stocks. they don't want to say . they don't want to write it. but you can find it everywhere. the evidence is mounting all over the street that the last two weeks there is a massive outside allocation shift as a result of it. this is what i want to say.

 i find it very disturbing when people walk into this building, come on air, talk about the portfolios. if you're a loan only manager you have to try to find stocks that are working but, remember, there's nothing wrong with holding cash or saying it like you think it is. i want to point something out here. this is The Wellington Letter. he writes he's been doing this for 35 years. this is what he said in the edition that came out yesterday. batten down the hatches. protect your assets, your business, your job. this is no longer a theoretical exercise. i want to tell you, carl, i find it disgusting that a lot of people are saying that to their clients and they're saying that across the board but they're not putting it in print. if you're saying something like that, have the guts liurt to put it in print. i would like to see people put it in print as opposed to whispering it behind the scenes.

Carl:   i just want to understand though, gary, you're saying four years of stock market action had nothing to do with the president but the past week and the past 600 points are all about the president, is that right?

Gary:
  no. what i'm saying is that the stock market went up over the last four years in many of these people's opinions. i'm just passing on what i am hearing and what people are saying. the stock market went up in spite of what might have been happening in washington. the major moves in the equity markets, i don't think anybody wants to debate with me on this, was driven by bernanke and the central banks arntd the world. the last several weeks has been just a recognition that the bernanke fed cannot do anything further so now we're stuck here with the issues related to the fiscal cliff and with the fact that there is a recision around the corner, unemployment's going to go up. as we pointed out all this week, capital spending is going down. so we've got to go. think it's important that people recognize this is what's being said, itit's just not being said on air. investors asking big questions. l
Note 1.  Source:  http://video.cnbc.com/gallery/?video=3000129595&play=1
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