Traders, what do you think?
"Buffett is smarter than you, he’s richer than you and he’s a mean SOB,” exclaims Jeff Macke, "and I say that with admiration."
I like that Buffett is finding opportunities in GE as well as Goldman and Wells Fargo . I think that takes the market higher, adds Joe Terranova.
I don’t think you can equate Wells Fargo which he bought for valuations to Goldman and GE which were bought under completely different circumstances, counters Guy Adami.
It suggests to me a bailout will get done, adds Pete Najarian. I think it benefits the regional banks.
What do you think? We want to know!
Got something to to say? Send us an e-mail at firstname.lastname@example.org 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 email@example.com.
Trader disclosure: On Oct.1, 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 (MSFT), (WMT), (HAS), (UUP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (WB); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (BIIB) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (MS) And (MS) Puts; Najarian Owns (NCC) Calls; Najarian Owns (XLF) Call Spread; Terranova Owns (MA), (AAPL), (EOG), (FCX), (FTO), (GS), (KOL), (NOV), (POT), (X), (VLO), (YHOO); Terranova Owns (MS) And Is Short (MS) Call; Terranova Owns (AIG) And (AIG) Puts
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW), (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
GE Is The Parent Company Of CNBC
CNBC.com with wires