FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the lastest show here.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
Hurricane season is far from over but already '08 will be remembered as the year of terrible storms. Of course we're talking about the financial storms that touched down in the center of Wall Street.
Damage ranged from surprising to cataclysmic. Merrill Lynch [MER
Loading...
()
] and Citigroup [C
Loading...
()
] have taken at least $45 billion and $40 billion in write-downs respectively. Freddie [FRE
Loading...
()
] and Fannie [FNM
Loading...
()
] shares are down 80% since May. And, as you well know, Bear Stearns had to be taken over by JP Morgan [JPM
Loading...
()
] to avoid bankruptcy.
But, like the song says, there’s got to be a morning after. Considering the Financial SPDR [XLF
Loading...
()
] has dropped 30% in 2008 some analysts think we may be near the bottom. Is there a ray of light breaking through the clouds?
"I think we’ve already seen the bottom in financials,” says Mendon Capital Advisors president and chief investment officer Anton Schutz on Fast Money. “I think it was in July when there was the fear of failure in Freddie and Fannie and IndyMac was seized. There was blood in the Street and we certainly saw plenty of panicking. I don't think we'll retest those lows."
"I expect there will still be some downside still, but there are great opportunities," he adds. Since Schutz thinks the bottom is already in it should come as no surprise that he recommends getting long. Following are his picks (some of which he provided to our producers ahead of the broadcast).
REGIONAL BANKS: TFS Financial (TFSL), American Capital Agency (AGNC) Hudson City Bancorp (HCBK), People's United Financial (PBCT)
MORTGAGE REITs: Annaly Capital Management (NLY), American Capital Agency Corp. (AGNC)
ASSET MANAGERS: Federated Investors (FII), Janus Capital Group (JNS)
MONEY CENTER BANKS: JPMorgan (JPM)
What do you think? Answer the Charles Schwab Question of the Day!
- Your First Move For Wednesday November 25th
- Web Extra: Seymour's M&A Play
- Pops & Drops: American Eagle, Green Mountain Coffee...
- Giving Thanks: Najarian
- Take Your Position: Cyber Monday
- Rick's Turkey: Fed Transparency
- Under The Radar Trades
- Our Best Black Friday Trades
- GDP Drags Stocks Lower
- Halftime Report: Is Oil Heading To $96?
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
Trader disclosure: On Aug 26, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Tatro Owns (C), (GS); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (QQQQ), (SSO), (SPY), (FXI), (XLF), (IHI); Jon Najarian Owns (C), (EXM), (JPM), (UNG); Jon Najarian Owns (AAPL) Calls, (MRVL) Calls, (RMBS) Calls, (EWH) Calls; Jon Najarian Owns (PTEN) Call Spread; Terranova Owns (AAPL), (RIMM), (EOG), (VLO), (YHOO), (NOV), (KOL), (GS), (POT), (SA), (FCX); Terranova Owns (AIG) Puts
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Schutz Invests In The Funds He Manages, Burnham Financial Services Fund And Burnham Financial Industries Fund; Schutz's Funds Own Approx. 4% Of (AGNC); Schutz's Funds Are Long (TFSL), (PBCT), (NLY), (AGNC), (FII), (JNS), (JPM), (LEH), (C)
Data is a real-time snapshot *Data is delayed at least 15 minutes