ENGLEWOOD CLIFFS, N.J. – December 19, 2007 – Despite a volatile year on Wall Street, traders are still optimistic about this year's bonus, according to CNBC's "Fast Money"/Trader Monthly Magazine poll.
The results of the poll were revealed today on CNBC's "Fast Money" at 5PM ET from the Nasdaq MarketSite studio in New York City's Times Square. Trader Monthly Editor, Ty Wenger, joined CNBC "Fast Money" anchor Dylan Ratigan and the "Fast Money traders – Guy Adami, Jeff Macke, Karen Finerman and Pete Najarian – to announce the results.
According to the poll, 43% of traders expect this year's bonus to be more than last year while 20% expect this year's bonus to be less.
The housing slump is definitely concern for traders with only 33% saying they plan to spend this year's bonus on real estate. In contrast, 67% of traders are not planning to use part of this year's bonus on real estate.
When asked whether they are looking to change jobs in 2008, 56% of traders said no, while 29% said yes and 15% of traders will make their decision based on their bonus.
So how may traders spend their holiday bonuses? According to the poll, 39% prefer the Aston Martin DBS, while 31% prefer the Ferrari 599 GTB Fiorano. And 38% of traders will drink their bonuses away with McCallan 55-year-old Whiskey, which retails for $27,000 for a single bottle. And, 13% of traders prefer 1953 Balvenie Whiskey.
"Fast Money" is a rapid-paced, highly-charged hour where four of Wall Street's best traders debate the hot trades of the day. The "Fast Money" traders give you the information normally reserved for the Wall Street trading floor, enabling you to make decisions that can make you money. The "Fast Money" four gives you the news, as only the savviest traders can, with an angle that you won't see until tomorrow's papers.
Ratigan, who also co-anchors CNBC's "The Call" (11AM-12PM ET) and CNBC's "Closing Bell" at 3 PM ET from the New York Stock Exchange, leads informative discussions on the trades of the day with four Wall Street traders: Guy Adami, former executive director at CIBC World Markets and former head gold trader at Goldman Sachs; Jeff Macke, founder and president of Macke Asset Management; Pete Najarian, co-founder of optionMONSTER.com; and Karen Finerman, President of Metropolitan Capital Advisors, Inc.
For more information and the complete poll results, go to: fastmoney.cnbc.com.
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