A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.
In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.
In 2017, Pisani was honored with a Lifetime Achievement Award from the Security Traders Association of New York for "dedication to the Association and the Industry."
In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."
In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."
Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.
Follow Bob Pisani on Twitter @BobPisani.
Greece goes down to the wire: The Institute of International Finance (IIF), the entity representing creditors in the Greek private equity swap, estimates that a disorderly default on Greek debt would cost Europe north of 1 trillion euros ($1.3 trillion): 177 billion euros in losses for the European Central Bank; 380 billion euros for additional support for Ireland and Portugal (already receiving aid); 350 billion euros to shore up Spain and Italy; and 160 billion for bank recapitalization. We will find out Thursday night how many bondholders have accepted the Greek deal.
China gets real with growth: China cut its 2012 growth target to 7.5 percent, its lowest in eight years. gross domestic product growth in the fourth-quarter of 2011 was 8.9 percent. This seems to be merely a response to slower global growth, but it will also force the Chinese to look at stimulating their internal demand.
I mentioned yesterday that the bookrunners had closed the book on Yelp a couple of days ago, a good sign that the local business review website would price above the $12 to $14 a share price talk. Indeed it did — at $15 a share.
Hm. Multiyear highs in the major indices, but new highs receding? Paul Hickey at Bespoke Investment noted to me that the percentage of net new highs on the S&P 500 today is 3.4 percent. Yesterday, it was 6.4 percent. That is not impressive.