Call me a clown or even a joker, as long as its not a midnight taker. Maybe theyre complimenting my keen sense of timing when they compare me to soupy, bozo, crusty. Anyway, the jokes on them, because knowing the right moment to buy. Buy, buy, buy sell, sell, sell among the most important and frustrating parts of managing your money, you tell me so many times when i see you and im solving it tonight, it is demanding. Precision is tough to get right thats why you hear commentators its impossible for individuals to on time the market. There is a whole the Cottage Industry of naysayers. The house of pain who make a living telling you that wells no way a regular investor can do it so you may give up on trying to trade, give up on picking your own stocks and just put all of your money in an index fund and performance as a whole and leave it well for all eternity. I have nothing against index funds per se. They could be a decent way to manage a portfolio of individual stocks and many people
Last weeks selloff caused the dow to lose all of its gains for the year. You can see theyre up 30 point. Its something. Come on. President obama has a message for Business Leaders. Quit complaining in an interview with economists, the president saying, quote, if you look at whats happened over the last four, five years, the folks who dont have a right to complain are the folks at the top. Bring in todays panel, fox businesss Charlie Gasparino, Dan Schaeffer from schaeffer Asset Management and veronica dagger from the wall street journal. Hes made the wealthy much richer with the runup in the stock market . You know, his condissension to people who create jobs is troubling to me. I met people who met with him, they call him the four ls, arrives late, lectures, doesnt listen, leaves early. Melissa nice thats rough id love to know who told you that. These are ceolevel people who say this. This is his those are melissa bank ceos . Combination of bank and conglomeration Business Leaders. Th
But first, lets take a look at what the traders have to say. We are looking at the endof theyear trading with scott bauer of trading advantage this morning. Scott, what do you anticipate . You know what angie, i really think that people that have stayed in the marketplace the entire year, have just ridden out the rally that we saw this year and did not reduce their positions, did not exit out earlier when we saw some of the higher points in the market, i think there is going to be some profittaking. I dont really believe that it is going to be all that severe. But why wouldnt you want to take some money off the table at the end of the year and maybe start over a little bit . So i wouldnt be surprised if we do see just a slight selloff really just due to maybe some of the funds in retail, taking profits off the table. And what are traders thinking about 2013, scott . You know, it is all about the economy at this point. If we can continue, especially in the Housing Market, if we can cont
The natural ice boulders weigh up to 50 pounds each. They sort of look like giant frosty basketballs. Look at the sky there. A winter phenomena at the lake shore. And before we go here, just in to us at cnn, an autopsy shows that a russian boy adopted by an American Family died by accident. Russian foreign officials accused the boys parents of abusing max helping to lead to his death but the District Attorney in this texas county where maxs family lives, they say the medical examiner found the boy had an internal laceration caused by some kind of blunt trauma to his stomach. The m. E. Found the bruising on the boy says it was selfinflicted. The big board, 14,079. There it goes from that high back in october of 2007. Were still waiting for that high to kick back in to 14,164. That does it for me. Have a wonderful weekend. Wolf blitzer starts right now. Hey, wolf. Brooke, thanks very much. Happening now, a lastminute meeting but no deal. Now 85 billion in drastic budget cuts that are abo
Culprit earnings in spain, the situation of the Banking Sector across europe, people worry that the Big Decisions havent been taken to stabilize the economy. What the italian election indicates is the anxiety about by people that the mix of policy isnt right. Personally, i think that the euro has been, in one sense, stabilized by the actions of the European Central bank over the past year or so, but as well as the liquidity problem, weve still got a solvency problem, and above all, weve got a growth problem. If we dont get the growth figures up, were in trouble. Thank you for joining us on squawk box on cnbc. Okay. Thank you. Guys, back to you. Michelle, thank you. That was a great interview. Thanks for letting us listen in on that. Folks, make sure you join us on monday with Warren Buffett starting at 6 00 a. M. Eastern time. That does it for us today. Right now its time for squawk on the street. Good friday morning. Welcome to squawk on the street. Im melissa lee with carl quintanill