No.1 - Countdown To Beijing Games
It's officially one year to the Beijing Olympics and as we’ve told you before, the games are not only a cultural phenomenon for China - they are a business phenomenon, too. In fact, the Chinese government is spending $40 billion on infrastructure in the ramp-up to the games. So what’s the trade now, with the games only 365 days away.
Fresh from her trip to China, CNBC’s Melissa Lee joins the guys for this conversation. Here are excerpts from what was said.
Dylan asks Melissa about the effects the Olympic games are having on China’s domestic economy.
She replies that when she stepped off the plane she saw construction everywhere. She says one company benefiting from the boom is Caterpillar (CAT) and adds CAT is expected to triple sales by 2010 because of the China boom.
Marriott (MAR) is also poised to benefit says Lee. They will add 2800 new room in Beijing by the time the games begin.
Guy Adami says the play is owning China Mobile (CHL) PetroChina (PTR) and Caterpillar until the start of the Olympics.
Eric Bolling recommends buying the iShares FTSE/Xinhua China 25 Index (FXI).
Pete Najarian likes 51job Inc. (JOBS) a Chinese employment company.
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Trader disclosure: On Aug 8 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (GS), (MEDX),(NMX, (BMY); Bolling Owns (ICE), (NMX); Bolling Is Short (FXI) But Is Bullish Long-Term; CNBC Is A Service Of NBC Universal And Dow Jones