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The Whole World In His Hands

Ben Bernanke’s half-percentage point move sent shockwaves through the farthest corners of the earth. iShares MSCI Emerging Markets (EEM) hit a record high Wednesday following a 10% move Tuesday. Merrill Lynch says this is the last great buying opportunity for emerging markets. Should you jump in?

Tim Seymour, Co-Founder and Managing Partner at Red Star Asset Management joins the panel for this conversation.

Seymour explains that stocks all around the world moved higher after The Fed cut rates. However, he cautions investors not to rush into emerging markets now, because there’s already been a big run. For an infrastructure play, he recommends Tenaris (TS) rumored to be in a deal.

For liquidity Tim likes Russia. However, Russia is a difficult market to get into and consequently Tim recommends cellular companies Vimpel-Communications (VIP) and Mobile Telesystems (MBT) as well as steel producer Mechel OAO (MTL) as his Russia plays.

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Trader disclosure: On Sept. 19, 2007, 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 (SWY); Najarian Is Short (ETFC); Najarian Owns (GS) Options; Finerman's Firm Owns (BWS), (COP), (GCO), (NMX), (LTD); Finerman's Firm Owns S&P 500 Puts And Calls; Finerman's Firm Owns Russell 2000 Puts

Seymour Owns (TS), (GFA)