Media Appearance: CNBC’s Morning Call (11/12/07)



This morning, I’ll be guest hosting Morning Call on CNBC, from 11:00am to 12 noon. 

On today’s agenda:

-Holiday Retail sales

-Year End Rally Possibility?

– Will M&A activity pick up for strategic reasons?

-Market sell off last week

-Inflation, Consumer Prices,

Last time I was on (10/22), we warned against exposure in the Financial sector — that worked out pretty well. This time, they are asking are the Financials cheap yet? 

What about the private equity firms — Fortress (FIG) and Blackstone (BX) ?


UPDATE: November 12, 2007 12:37pm

Here’s the two Video segments up on the CNBC website:

Retail Slumming & Inflation
Mon. Nov. 12 2007 | 11:57 AM[02:18]

Retailer Desperation
Mon. Nov. 12 2007 | 11:37 AM[03:57]

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What's been said:

Discussions found on the web:
  1. Adam commented on Nov 12

    I am strongly considering buying some BX today. Anyone care to dissuade me? I have a feeling that BX is the financial institution of the future, and that it has incredible upside from here (about 6 bn market cap).

  2. michael schumacher commented on Nov 12

    BX loss attributed to costs associated with it’s own IPO-so you paid how much for it and only now after a 25% haircut and you have to pay for it all over again. No voting rights, just along for the ride.

    What an offload of liability…..good work if you can get it.

    Yea I’d buy that….not….hedge funds are going to get tax status changed…’s coming as soon as the current administration is shown the door.

    I’d pick some stock where there is a bit more information and transparency…..there is almost none with BX.


  3. michael schumacher commented on Nov 12

    BTW Barry just the subject headings alone tell me exactly what your hour is going to be like. It’s going to be you swimming against the rest of ’em

    Good Luck…


  4. Florida commented on Nov 12

    It seems like only yesterday when BX’s IPO was the news story that had all Wall Street aswoon. *sigh*

  5. Lloyd commented on Nov 12

    I read an interesting report the other day on banks and it stated that it can be useful to look at them on a market cap-to-deposit basis. I believe the author spoke about banks bottoming around 5% during previous downturns but many of the US banks are around ~20% on a market cap-to-deposit basis. I think US financials make an interesting trade in here but like the homebuilders a few months ago, they’re still over priced.

  6. michael schumacher commented on Nov 12

    It took about 6-7 months of dreadful news to even start to affect the HB’s and even then they are still to high IMO-especially if you look out 1-2 years.

    Valuations are a complete and utter joke across the board as well.


  7. Pleasepassthekoolaid commented on Nov 12

    I think Banks, Home Builder’s, and especially BlackStone are all exceptional buys right now, as try as I might I can’t possibly imagine any more negative events befalling any of them.

    The bottom is here!! Rejoice and buy, buy, buy!!!

  8. Ralph commented on Nov 12

    About time you got some air time other than Kudlow!

  9. The Dirty Mac commented on Nov 12

    “Rejoice and buy, buy, buy!!!”

    I’m going to buy a copy of “Be a Real Estate Millionaire” and maybe even win $15,000.

  10. The Financial Philosopher commented on Nov 12

    “it’s important to choose not who you think is the prettiest girl, but who the judges will think is the prettiest girl.” — Keynes

    There are strong arguments both for and against the question of whether or not financials are “good values” at current levels. The “right” answer will always be, “That depends…”

    Personally, I believe “the girl” looks pretty ugly right now but that does not matter to me. All that matters is that I am quite confident she will look beautiful some time in the next 10 years…

  11. John commented on Nov 12

    BUT – the less you spend on that ‘first date’ the prettier she will look to YOU in ten years. :)

  12. alexd commented on Nov 12

    It seems every time BR was on the market went down. Either his speaking makes the market go down or else the market going down makes him speak. So who’s in charge?

  13. Eclectic commented on Nov 12

    Obviously the pollen count in your neighborhood is finally way down.

  14. David commented on Nov 12

    I agree with you.
    I think people are real scared!
    I am scared, what will happen next?

    “In time we hate that which we often fear.”
    William Shakespeare

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