Fast Money Recap: Part 1
Tonight's episode of Fast Money was both interesting and entertaining. Former Neuberger money manager Gary Kaminski, offered up a contrarian play on the smart phone market and said that he is shorting Verizon (NYSE: VZ) and AT&T (NYSE: T). He cited price competition and inflated expectations as catalysts for the trade.
Steve Cortez continued the contrarian theme by outlining why he is bullish on treasuries and buying multiple issues, despite the fact that the overwhelming consensus on Wall Street is that treasury prices are going lower and yields will rise in 2010.
Tim Seymour said that he is still bullish on Bank of America (NYSE: BAC) as both a trade and a long term investment. Seymour even indicated that he has shares of BAC in his IRA. The second half of the Fast Money recap can be found here (very funny).
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