This Pro Is Warning Investors To Take Off Their 'Beer Goggles'

Peter Boockvar, The Lindsey Group's chief market analyst and a CNBC contributor, has a cautious view on the U.S. market.

Speaking as a guest on CNBC's "Squawk Box" segment on Monday, Boockvar went as far as to say that the current market is a "very dangerous" place for investors as easy money from central banks have artificially inflated asset prices.

"I used the word 'beer goggles' — that QE and low rates clouded investor attitudes towards asset prices and everything looked good," he said.

Boockvar continued that since the "Brexit" vote in late June that has been a "voracious search" for yield. Meanwhile, the voting outcome may have also made investors "forget the risks of capital loss only for the reward of a yield that is pretty microscopic."

Related Link: New Gold Reaches Analyst Target Price

What Should Investors Do?

Investing in U.S. equities is out of the question, according to Boockvar. In fact, the U.S. stock market is the "most expensive" equity market in the world.

He added that investors can take advantage of "better opportunities" in emerging markets that have been gone through a bear market over the past four to five years.

Finally, Boockvar said he is a "big fan" of gold and silver.

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