It's Tuesday, March 15th, and this is Market Fullery.

I'm Chris Hill and joining me in studio today from a million dollar portfolio, Dave Meyer,

from Income Investor James Early, and from Hidden Gems Charlie Travers.

Guys, good to see you.

Good to see you, Chris.

Once again, we're going to focus our attention on Japan.

We've got growing concern that a nuclear crisis could become a nuclear catastrophe.

We've got elevated radiation levels being reported in Tokyo,

and the death toll from the earthquake and tsunami

continues to mount.

Obviously, we're a business show, so we're going to dig into the

economic part of this story but I want to start first with you Charlie and I want to

start with the market reaction to this. The Nikk index down 16% the past two days. It's the worst two day

drop since 1987. And in the US all the major indices were down as well. What does the market reaction tell you about all of this?

You know, usually what you see in a situation like this is just indiscriminate selling, people want to get out, and and you know it's a legitimate need

for cash is king in these kinds of situations you know to look at an individual

company by company basis however is you know not to be too light or cavalier about the situation.

It's these sorts of environments where the highest quality businesses go on sale.

You know, I'm not saying this in a profit from other people's

misfortune and suffering sort of way. It almost should take it as an optimistic view

towards recovery in the future, but you get companies like Hitachi, Nintendo, Sony, and Toshiba that are selling off massively

and a lot of these stocks are at 52 week lows.

...