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The Latest Picks That Paid – Friday Aug. 1st

Quicker Ticker
Quicker Ticker

Our traders are good - but you knew that! Check out their latest picks that paid.

Karen Finerman

On July 24th the Chairwoman made a high stakes bet on Washington Mutual that paid off big.

At the time she said, "Look, you got two scenarios, they go out of business or they muddle through and you basically have a very long call on a very big set of assets…and I’m willing to take that asymmetric risk"

As they say, no risk no reward. Shares of the beaten down bank surged 36% in the five days following Finerman’s call.

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Jeff Macke

On July 17th the Lone Wolf had a feeling that General Motors was about to stall out.

At the time he said, "I mean if you were running out to buy General Motors today you've got it backwards. Today was a day to sell. Of course you continue to sell the pops. There is no way to really value these companies."

Macke knew what road GM was headed down. Shares of the automaker slid 17% after the Wolf said to stay away until this company gets a much needed tune-up.

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Guy Adami

On July 16th the Negotiator sensed that one bank was quite like the proverbial "baby tossed out with the bathwater."

At the time he said, "US Bancorp got obliterated yesterday. I think there's a trade here, I really believe USB should be trading 30, they've done nothing wrong. I like USB."

Good thing Adami checked that bathwater. Shares of U.S. Bancorp bounced 15% higher after his long call.

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Tim Seymour

On July 2nd the Ambassador saw trouble ahead for the emerging markets.

At the time he said, "I'm a little concerned about the trough point we're at because I think we could see a break for very significant fundamental reasons, that maybe commodities are cracking a bit. I still love emerging markets long term, I'm not buying it here."

If you’d gotten short in early July you’d have emerged with a fatter wallet. Shares of the UltraShort MSCI Emerging Markets ProShares which is a double-short emerging markets ETF climbed 8% since Seymour said to bet against the foreign plays.

Now that’s "Fast Money."

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On Aug 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; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Macke Owns (COST), (MSFT), (EMC), (WMT); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (RIG); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (XLF), (BBT), (COF), (IYR), (IJR), (MDY), (SPY), (IWM); Seymour Owns (AAPL), (CSCO), (F), (INTC), (MER), (MSFT); Seygem Asset Management Is Short (FXI), (VIP)

Finerman Owned (WM) On 7/24/08
Seygem Asset Management Owned (EEM) On 7/2/08