David Hefty is Back, Warning That If A Few Hedge Funds Get Margin Calls, The Dow Is Headed To 5,000

David Hefty may be the hottest uber-bear on the planet right now.

The CEO of Cornerstone Wealth Management obviously scored off-the-dials ratings when he appeared on CNBC last week, so they invited him back to explain why the Dow is headed to 5,000.

His reasoning?

There’s $17 trillion worth of leverage in the financial system, and if just a few hedge funds get margin calls, the whole thing will come tumbling down.

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