With US stocks overvalued and sovereign bonds caught in a dangerous trillion dollar overbought state, Wall Street sage Peter Boockvar tells Erin Ade where the value can really be found in this edition of New York State of Mind. Rather than risking capital for dividend yield or being exposed to the end of the bear market in commodities, which has driven the fixed income gains, Boockvar, chief market analyst to former Federal Reserve Governor Larry Lindsey’s Lindsey Group, digs deeper in the emerging markets for trading opportunities. He identifies how real cultural change in Brazil is setting that market up for a quick rebound from some steep falls, while political will to change bankruptcy laws in Italy could free up collateral in the basket case of Europe. Investing where it hurts can be seriously good for your wealth. You’ll need to see this clip to get in on the action and more importantly to get in at the right time.