Squawking with Wall St.'s big brains about Fed
What a week! Highlights include Stanley Druckenmiller, Jimmy Dunne, Lloyd Blankfein, Warren Buffett, Brian Moynihan, Meryl Witmer, David Tepper, Barney Frank, Chris Dodd and Captain Underpants! This is Talking Squawk, the official "Squawk Box" blog, providing tidbits, insights and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME from the notepad of the show's senior executive producer.
Bernanke, what the ...
We all know the news by now. The Federal Reserve decided this week not to take its foot off the bond-buying accelerator, as most on Wall Street thought it would.
Here are a few paraphrased sentiments expressed on "Squawk Box" after the Fed's decision Wednesday:
The Fed misled the markets; the Fed's turning investors into QE addicts; the Fed's artificially propping up stocks; the Fed's paying for the party to continue with your children's college fund.
We're not taking sides. But this week, we got to ask some of the most powerful financiers and investors in the world for their take.
That's what we do best—give you access to the best investment minds.
Smart money thoughts
Of course, if that's not big enough world-famous-super-rich-investor-guru insight for ya, Becky Quick went to Washington to ask Warren Buffett and Bank of America CEO Brian Moynihan what they thought about the Fed, the markets, and the economy. Read the full story. They also weighed in on the debt ceiling fight, Obamacare, and financial lawsuits. Read the full story.
No Taper, Tepper
Hedge fund titan David Tepper—the guy who started all this "taper" right here on "Squawk Box" back in May—sent us an exclusive update on his thinking Thursday, a day after the Fed's inaction.
Tepper wrote: "The Feds non-taper and forward guidance should give a clear message of what the Fed wants. They are not worried about inflation in the next few years and want growth first, growth second, and growth third. With the stabilization of Europe, the apparent pickup in China (note higher dry bulk index) and a U.S. economy still on reasonable footing, despite a slight slowdown in housing the Fed's apparent heavy leaning to a growth policy should lead to a pretty favorable environment for the markets."
VIP value investor
Meryl Witmer is on the board of Berkshire Hathaway and is a member of the Barron's Roundtable. She was taught by investment legends like Michael Price and Mario Gabelli. She may be one of the most powerful value investors in today's market whom no one really knows. So thank you, Jimmy Dunne, for persuading her to come on "Squawk Box."
Witmer said Thursday that the stock market "doesn't look so cheap" and may be a little bubbly.
We're big fans of hair fun, and we're also big fans of Lloyd Blankfein, CEO of newly named Dow component Goldman Sachs! Combine those two? And you have a real blockbuster: "Lloyd Kernen."
The real Blankfein was sporting that facial hair this week when our Andrew Ross Sorkin caught up with him in Chicago the morning before the Fed nondecision. The Goldman boss said it's time for the Fed to taper, but it should not be as big a deal as investors are making it out to be.