Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.


  • While the trading since August have been full of volatility and high volume, for the most part that has not translated into notable stock outperformance for the major exchanges. There is an exception: the CBOE.

  • "I'm running the lightest portfolio of my life, and I'm delighted about it," one trader told me this morning, sheepishly admitting he is 70 percent in cash. With a pile of puts.

  • Traders are trying now to connect the dots on two pieces of information.

  • Stocks have moved to their highs for the day, as the Greek government has said, "All agreed Greece will remain in the eurozone" and "Greece PM vows to take all necessary measures on budget commitments."

  • The trading community is atwitter about the phone conversation that will be taking place between the Greek Prime Minister George Papandreou, Angela Merkel of Germany, and Nicolas Sarkozy of France.

  • "We have to do this vote with 17 countries? How can you go home with stock overnight?" That's what one trader said to me, after Austria said it would delay voting on changes to the EFSF bailout fund until October.

  • Many interesting comments on the global debt crisis this morning: Treasury Secretary Timothy Geithner told CNBC at our "Delivering Alpha" conference in New York there was "not a chance" that Europe will allow their institutions fail in the way Lehman Brothers did.

  • While most of UPS revenues are in the U.S. (about 75 percent), the health of their international package business (about 22 percent of revenues) is considered a key barometer of global shipping demand.

  • European debt issues haven't gone away, but they can be ignored — for a day or two. Here's something odd: S&P Industrials up almost 2 percent, and S&P Materials up 1.6 percent, but S&P Energy up less than 0.5 percent.

  • Even professional stock pickers are miserable. At an informal gathering of about a dozen hedge fund traders and analysts last night, trader after trader expressed frustration with the fact that the correlation between stocks has been near all-time highs—for months. This means that stock picking has been useless.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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