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Market Gurus: A World Of Worry on Wall Street

Dirk Mueller, Skontrofuehrer an der Wertpapierboerse in Frankfurt, sitzt am Mittwoch, 28. Februar 2007, an seinem Arbeitsplatz, vor der Anzeigentafel des Deutschen Aktienindex (DAX). Die weltweite Boersen-Talfahrt hat auch den deutschen Aktienmarkt am Mittwoch weiter nach unten gezogen. Verluste von mehr als 2 Prozent im DAX, rund 4 Prozent im MDAX und mehr als 6 Prozent im TecDAX bestimmten das Bild zu Handelsbeginn. Doch konnten die deutschen Aktien die Talfahrt bis zum Mittag etwas abbremsen.
Bernd Kammerer
Dirk Mueller, Skontrofuehrer an der Wertpapierboerse in Frankfurt, sitzt am Mittwoch, 28. Februar 2007, an seinem Arbeitsplatz, vor der Anzeigentafel des Deutschen Aktienindex (DAX). Die weltweite Boersen-Talfahrt hat auch den deutschen Aktienmarkt am Mittwoch weiter nach unten gezogen. Verluste von mehr als 2 Prozent im DAX, rund 4 Prozent im MDAX und mehr als 6 Prozent im TecDAX bestimmten das Bild zu Handelsbeginn. Doch konnten die deutschen Aktien die Talfahrt bis zum Mittag etwas abbremsen.

The selloff heard round the world started with a hitch in China, was exacerbated by a technical glitch in New York and became one for the record books. Though the Dow Industrials 400-plus point, or near-4%, decline Feb. 27 was small change compared to the Dow’s 508-point, or 22,6%, crash in October 1987, by one measure or another it was by far the biggest in years, which is one reason it resonated so much.

Now four days on, the market is arguably still looking for a bottom and investors are still in need of insight and guidance. A weekend break for the markets always provides some relief but it also creates its own tension, as edgy investors are sidelined until pent up demand can be satisfied with the reopening of the markets on Monday in the Asia-Pacific region.

We’ve assembled a dozen or so interviews with top analysts and market watchers in an effort to put some perspective on what happened over the past week as well as provide an outlook of things to come.

More to Come?
Fresh off the global rout, everyone wants to know the answer to this question. Stephen Roach, Morgan Stanley chief economist; Donald Straszheim, Roth Capital Partners vice-chairman discuss the possibilities with CNBC's Maria Bartiromo.
Tues. Feb. 27 2007 | 4:30:00 PM [06:15]

Global Market Ripples
Once again, an emerging economy reminds that it is really a global market. Robert Hormats, Goldman Sachs International Vice Chairman and CNBC's Sue Herera discuss how a hiccup in China creates a global gasp.
Wed. Feb. 28 2007 | 1:03:00 PM [03:57]

Remembering The Big Ones
April may be the cruelest month, but October is historically the unlucky one for investors. First 1929, then 1987. Then, of course, Sept. 11 and the turbulent week that followed. Investors have a short memory. That’s what academics are for, right? Jeremy Siegel, Wharton School at The University of Pennsylvania professor of finance and popular author, puts Feb.27 in historical perspective.

Wed. Feb. 28 2007 | 2:23:00 PM [02:41]


Who You Gonna’ Call?
She was right about the best of times, so what about now? Abby Joseph Cohen, Goldman Sachs chief U.S. portfolio strategist tells CNBC's Dylan Ratigan there’s value in the market after the selloff.
Wed. Feb. 28 2007 | 3:23:00 PM [04:37]

Where’s The Fed In All This?
Talk about the cavalry. There’s nothing quite like the U.S. central bank when it comes to perking up a market as Alan Greenspan did in 1987 and 1991. The markets may have sneezed, but don’t expect any medicine from the Fed this time. The selloff increased hope the Fed will cut rates later this year, but David Malpass, Bear Stearns chief economist; Ethan Harris, Lehman Brothers chief US economist tell Maria Bartiromo don’t count on it.
Wed. Feb. 28 2007 | 4:22:00 PM [03:48]

Rainy Day Funds
They may be big players but they also have a lot of mouths to feed. Russell Read, CalPERS CIO tells CNBC's Maria Bartiromo how pension funds play volatile markets.
Wed. Feb. 28 2007 | 4:38:00 PM [03:26]

More Video...

Recession On The Horizon
All former Fed boss Alan Greenspan had to do was answer a question about the possibility of a U.S. recession and it became part of the market equation. David Greenlaw, Morgan Stanley chief U.S. fixed income economist; John Rutledge, Rutledge Capital chairman; James Paulsen, Wells Capital Mgmt. chief market strategist discuss the odds with Joe Kernen.
Thurs. Mar. 1 2007 | 8:10:00 AM [04:54]

Us Vs. Them
More often than not, overseas markets mimic those in the U.S. – for better or worse. When the table is turned, the reaction is usually an unpleasant one. Sam Stovall, Standard & Poor's chief investment strategist talks about foreign volatility & U.S stability with Liz Claman.
Thurs. Mar. 1 2007 | 11:25:00 AM [03:36]

Running With The Bulls
Complacency breeds danger and the seemingly relentless market rally from September should have triggered some alarms. Laszlo Birinyi Jr., president of Birinyi Associates tells Maria Bartiromo a lot of people may have been buying into the markets who shouldn't have.
Thurs. Mar. 1 2007 | 3:43:00 PM [05:07]

So Much For A Quick Recovery
A tepid rebound Wednesday from a major selloff Tuesday. A hard-fall open followed by a rollercoaster day and a small loss Thursday. Put together, that ended any illusions of a one-day wonder. Turbulent times. Dawn Bennett, Bennett Group Financial Services CEO and Al Goldman, A.G. Edwards chief on determining the best way to play a volatile market.
Fri. Mar. 2 2007 | 10:18:00 AM [02:59]

Market Psychology
Many investors went from bull to Chicken Little in a matter of days, reminding us how all the qualitative and technical analysis doesn’t add up to much sometimes. Woody Dorsey, behavioral finance strategist at Market Semiotics discusses the psychology behind this week's volatile market and what might lie ahead with Becky Quick.
Fri. Mar. 2 2007 | 8:45:00 AM [03:36]

Washington Weighs In
Everyone remembers Pres. Ronald Reagan's simple -- and simple -- pronouncement after the crash of 1987 that the economy is fine. There was no need to buy one for the Gipper this time, but Edward Lazear, chairman of the Council of Economic Advisors, tells Erin Burnett that the economy is on a strong footing and the markets have stablized.
Fri. Mar. 2 2007 | 2:08:00 PM [04:25]

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