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World Doesn’t Revolve Around Wall Street

”Oh that’s enough about me, let’s talk about you. So what do you think of me!” It’s an old punch line but it couldn’t be more timely as the only thing Wall Street seems to be able to talk about is… well, Wall Street.

Of course there’s plenty of good cocktail conversation. We’ve got the Freddie and Fannie bailout and now this whole Lehman debacle.

What’s that you say? You just need to slip away and freshen up. Okay. We’ll wait right here. Good Lord, we must be boring.

River Twice Research president Zach Karabell can barely stand us. “Bankers and brokers are not the center of the universe,” he tells the Fast Money traders. (Audible gasp) "Financials may be in turmoil but they’re not leading indicators for the rest of the nation.”

“And it’s obscuring what’s going on in other places. Don’t miss the base metal reality. Vale is renegotiating it’s prices up 20% for next year," says Karabell. He owns it and thinks the stock is well worth a look.

"And then there’s Tiffany who is benefitting from strong sales abroad." Clearly, there are a lot of rich people in the world and they’re buying jewelry!

I guess Karabell told us!

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Trader disclosure: On Sept 11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WMT), (UUP), (MSFT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (AKS) Call Spread; Najarian Owns (MER) Put Spread; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (XLF) And (XLF) Collar; Terranova Owns (AAPL), (EOG), (FCX), (GS), (NOV), (KOL), (POT), (RIMM), (SA), (X), (VLO), (YHOO); Terranova Owns (AIG) Puts And Owns (AIG); Terranova Is Short December 2008 Dollar Index Futures

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (BRE), (CNTY), (CNW), (CLB), (OFC), (DLM), (DRH), (DLR), (EPR), (ESS), (EXR), (AGM), (FL), (GBL), (GNET), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (GWX), (SSYS), (SKT), (UA), (BIV), (VV), (BLV); Phoenix Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund - Money Market Fund; Phoenix Investment Partners Owns More Than 1% Of Seagate Technology Tax Refund Rights

Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

Karabell Owns (RIO), (CAT), (LVMH)

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