mr. siegel: the battle of trenton is exceptionally significant in the time of 1776 because the american revolution was on the edge of being extinguished.

mr. siegel: the battle of trenton is exceptionally significant in the time of 1776 because the american revolution was on the edge of being extinguished. washington's army had reached its lowest point, he was in danger of losing a lot of his troops and his enlistments. he had just lost several significant battles in manhattan and in the new york area. and had retreated across new jersey, hoping to increase the numbers of his army while passing through new jersey and the opposite happened. he lost troops. the analogy i like to use is that the rebellion at that point was like a candle that was about to be blown out. washington would retreat across the delaware river and set up his forces in pennsylvania in the new town area, and it's there that he developed a plan to use his army before they all went home, and to launch an attack against the german garrison there was holding trenton. trenton was a very important crossroads city at the time, a town of about 1000 people on the major route between philadelphia and new york city. trenton have a lot of significance sitting on the delaware river about 50

. >> benjamin siegel, portfolio manager, and brian levitz, senior investment strategist at oppenheim oppenheimer. is mr. eisman right in the sense because of the elimination in large part of massive amounts of leverage in the system we aren't set up for any sort of a shock along the lines of what we saw in the financial crisis, that's just off the table from now on. >> yeah, i think that's right. people are so prepared to believe that what happened most recently will happen in the future. just because that happened in 2008, that was a once in nine decade experience. there's not that leverage in the system. people worry about market corrections. market corrections happen all the time. we had a 16% market correction from the end -- the middle of 2015 into 2016. so you might see some volatility pick up in markets, but to think we're going to have a systemic collapse and a financial crisis like in 2008 is the height of hyperbole in my opinion. >> benjamin, in terms of valuations, you are actual ly still saying that things look better overseas in terms of allocations. >> yeah, hi. i actually agree with that