A CNBC reporter since 1990, Bob Pisani has reported on Wall Street and the stock market from the floor of the New York Stock Exchange for more than a decade. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before moving to the New York Stock Exchange in 1997.
He was nominated twice for a "CableACE Award"—in 1993 and 1995.
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, Bob 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.
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It was a "Meltdown Monday" on Wall Street today. People might pooh-pooh today's action because of the light volume, but it is hard not to be a bit awestruck at the breadth of the decline. All of the Dow Jones Industrial's 30 components fell, toward the close 472 of the S&P 500 Index were lower, and 97 of the Nasdaq 100. Why the decline? There were plenty of reasons cited, but the most common was concerns about the financials.
Ask a trader why the market is down today and you'll get a whole host of different answers: concerns about the financials, the lack of resolution on Lehman, the lack of volume which makes the market more vulnerable to sudden swings, and the tensions over Russia's support of breakaway regions in Georgia. The most common answer, though: the concern about the financials.
Mary Thompson is filling in for Bob Pisani: The markets have kicked off what is supposed to be a quiet week of trading on a down note. The decline is broad, volume is light, and financials and transports are the leading losers. But one strategist says oil and credit are the real stories.
A big drop in oil provided nice support for stocks. Oil went from $114 to $121, then all the way back to $114, in two days! Stocks were drifting lower midday Friday, but when oil started moving down aggressively, the market stabilized, and a few sectors like airlines and retailers had modest rallies. Financials also stabilized today, though they are down for the week.
There are three big questions floating around on the Street today: First, does the debt of Fannie/Freddie take a haircut? Most traders would say no prior to today, but Ben Bernanke's comments that debt haircuts might be in order for some (he did not specifically say for Fannie Mae or Freddie Mac) has given many pause...
The bottom line on Lehman Bros.: All the talk about a possible investment in Lehman from Korea Development Bank -- or anyone else -- is really beside the point. The reason Lehman has dramatically underperformed even its poorly performing peers this year is the large exposure they have to the worst performing parts of the market.
Warren Buffett told CNBC that he has no bets against the dollar and stocks are more attractive now than a year ago. This has been a week of reversals: and the Street continues to believe that some kind of federal intervention in Fannie Mae and Freddie Mac is inevitable -- and continues to believe that the market will rally when this announcement is made.
Regarding Fannie Mae and Freddie Mac:The most important issue is not the value of the equity holders' stake, but to ensure that Fannie and Freddie keep operating. Even slight glitches can have ripple effects. AND: Citi says BUY Lehman & Morgan Stanley!
Ian Harnett, a European analyst at Absolute Strategy Research, believes stocks will rally another 20 percent in 2014.
Facebook and Apple initially cheered markets, but the bounce didn't last long.
Michael Yoshikami is no Apple fanboy but he thinks the company's innovation pipeline did not die with Steve Jobs and it's ridiculous to say otherwise.