Media Appearance: CNBC’s Morning Call (6/18/08)


This morning, I’ll be doing the guest-hosting thing on CNBC’s Morning Call, from 11:00am til Noon.

Today’s topics:

Oil: After kissing $140, crude is now down to $133.

Credit Crunch: Bank and Broker stocks still have work to do

Fed Ex report: What does FedEx earnings have to say about a any recession ?

We saw a nice pop in retail sales, and some of it was inflationary — food and energy — and the rest of it was the rebate checks, about half of which now are spent.

More later . . .


Here’s one of 3 parts of today’s CNBC appearance:

Banks & Brokers
click for video


embedded video

Airtime: Wed. Jun. 18 2008 | :04:0 08 ET

Insight on the markets and financials, with Barry Ritholtz, Fusion IQ; Ed Sheidlower, Bryce Capital Management and CNBC’s Bob Pisani

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What's been said:

Discussions found on the web:
  1. cinefoz commented on Jun 18

    BR pondered:

    Fed Ex report: What does FedEx earnings have to say about a any recession ?

    reply: As I said yesterday, high oil prices, of the fraudulent kind being experienced now, are an excellent leading indicator of bad times ahead. FedEx earnings are a confirmation. Until the level of crooks diminishes a little, the only place for cash right now are FDIC insured bank CDs and money market funds. Only a fool would put money in this market. Too many crooks on the loose at this time.

  2. michael schumacher commented on Jun 18

    BR has a chance here to speak the gospel…..somehow I doubt that’s going to be allowed to happen or that he will be willing to do so. You know the tin-foil hat crowd is just so negative….

    I would start by picking apart LEH…..VERY easy target but that’s “negative” and we all know how CNBS handles bad news.

  3. Steve Barry commented on Jun 18

    Looking at a 5 year chart of Fedex, we see a very distinct, massive head and shoulder pattern. If it breaks the neckline of 80, it could see 40, which would forebode severe recession.

  4. johnnyvee commented on Jun 18

    FedEx is unable to pass along its fuel costs? WTF. It appears that the transportation industry is heading to the toilet.

  5. michael schumacher commented on Jun 18

    IF you have not shipped anything lately you will be shocked. I shipped two books for Father’s day and the cost of the shipping was 1/2 the cost of the books.

    Books cost $90….shipping them was $46.11 one was ground (UPS) the other was 3-day UPS.

    IT is being passed on to us but seems that Fed-Ex (so far) has been unable to get it’s drivers to turn right more…..LOL


  6. ben commented on Jun 18

    How do we know half the rebate checks were already spent? Did half of the people eligible already get them? Where can you get this data?

  7. zackattack commented on Jun 18

    What it says to me is that companies dependent on the “rolling warehouse” are getting bent over.

    A whole generation of JIT inventory management, completely obsoleted.

  8. Mike in NOLA commented on Jun 18

    I wish I could watch the sparks fly. Don’t have CNBC here, but I expect Barry will be met with a bit of skepticism. He doesn’t buy commercial time.

  9. bluestatedon commented on Jun 18

    We’re approaching 12K again, so I guess this means the PPT members are hurriedly putting on their pads, helmets, and jockstraps in preparation for another battle to maintain the sanctity of 12,000.

  10. zell commented on Jun 18

    The market is too aware of oil’s daily price and not sensitive enough to how long it has been in this range. The DOW should have a negative 100 point bias daily to reflect the economic damage that is being done.

  11. wunsacon commented on Jun 18

    Is there a reason to continue shipping dead trees instead of downloading books? With high energy prices, let the substitution continue… :-)

  12. michael schumacher commented on Jun 18


    please get real….
    Books that cost $90 (about $45 each) have other qualities than just text.

    Sorry about your Kindle purchase..


  13. bluestatedon commented on Jun 18

    “Books that cost $90 (about $45 each) have other qualities than just text.”

    Absolutely agree. They’re great for getting the fire started in the fireplace when using the oil or gas furnace has gotten a bit pricey.

  14. b commented on Jun 18

    ..books are dead..? Libraries ..? ..E-books..E libraries..not for me..handy for research but not comfortable for reading as enjoyment ..old fashioned I guess…lol

  15. DMTX commented on Jun 18

    Nice job on the show. Wish you could take Kneale’s job PERMANENTLY !

  16. Liz Tool commented on Jun 18

    The Post Office has wonderful flat rate boxes for priority mail. They come in different sizes and the weight doesn’t matter (I sent myself 40lbs of beads from VA to OR and it cost 8 dollars). If you are sending books across the country it’s even cheaper than media rate. UPS is a rip off.

  17. wunsacon commented on Jun 18

    >> Sorry about your Kindle purchase..

    LOL! You found me out. I’m shilling for Amazon.

    But, think about it: as long as per-capita energy costs increase, won’t a personal non-electronic library once again become a “luxury” for the “elite”?

    (And if I may channel Colbert for a moment, you book-loving elites are “on notice”!)

  18. grumpyoldvet commented on Jun 18

    Anyone aware that Big Oil has over 10,000 drilling permits to drill on federal lands that they are not using…33 million acres offshore that they are not using…they have 13 billion barrels of oil in what was originally known as the Alaska Strategic Reserve that have the wells capped by these same oil companies…so why don’t they use those that they have rather than squeaking that they need more…it’s all bullshit

  19. michael schumacher commented on Jun 18

    Liz Tool-

    No thanks with the USPS……I wanted them to arrive in one piece and during this year.

    I suppose “priority mail” is better than UPS as well… about a rip-off….

    If you know how they all work… know who to use for what. USPS is the last straw for anything other than a letter.


  20. sarge commented on Jun 18

    Barry – Love the tie! That wasn’t a father’s day gift was it? Either somebody is media training you or your kid has an eye for style!

  21. Barry Ritholtz commented on Jun 18

    Its a Ted Baker — nearly all of my favorite ties are.

    My wife teaches fashion illustration & design, so my ties better match the suit, and they better “pop” on tv!

  22. stuart commented on Jun 18

    Some good comments made on the video clip. Agree, why would anyone want to buy financials when their balance sheets are so opaque and management seems to be intent to continuing the lack of transparency. Can only make one suspicious about the quality of their assets. Stay away until clarity returns.

  23. Robert- commented on Jun 18

    Barry, you need to give us more clues of what you’re thinking when others are talking.

    If you agree with the other speaker… tilt your head up or down once.

    If you disagree… look to the left or right.

  24. lanny commented on Jun 19

    Saw your comments about trailing stops. Could you tell me (or post) your procedure for setting these? Too tight and you get bounced out too easily. Too loose and you feel like you lose a lot of gain before the stop triggers.

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