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MarketFoolery

MarketFoolery: 03.23.2011

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 23 March 2011

⏱️ 11 minutes

🧾️ Download transcript

Summary

The Egyptian stock market plummets. Howard Stern sues SiriusXM. And the Fed rejects Bank of America's dividend hike.

Transcript

Click on a timestamp to play from that location

0:00.0

It's Wednesday, March 23rd, and this is Market Foolery.

0:06.0

I'm Chris Hill and joining me in studio today from Motley Fool's stock advisor, Jason

0:10.0

Moser, from Income, James Early, and from Motley Fool Asset Management, Bill Mann.

0:15.4

Guys, good to see you.

0:17.1

Why am I always introduced last?

0:19.4

You have saved the best for last.

0:21.0

Bill Mann actually requires a special police escort to come here. for last. It's nice saying, Jason. Hey,

0:23.0

I can actually require a special police escort, but he has to be escorted up from asset management.

0:28.3

We're not suggesting that there are handcuffs involved.

0:30.1

It's something wrong with him.

0:31.1

Nobody's suggesting that.

0:32.1

All right guys. Why don't I have a cop? That'd be awesome. We've got the Fed

0:35.9

rejecting Bank of America and Howard Stern suing Sirius, but we begin today in

0:41.1

Egypt where the stock market was open for trading for the first time in nearly two months and it wasn't pretty.

0:47.5

Bill, the market was down almost 9%. What happened?

0:52.0

Well, of all the companies in Egypt, only one went up.

0:57.6

The rest of them were down, what's called limit down, which means that they were down 10 percent.

1:02.2

And in fact, the only reason that the market

1:04.1

didn't close down 10% is because trades for 16 companies were cancelled.

1:08.9

Yeah they closed it early.

1:10.1

Yeah, oh yeah it was it was it was called for rain very early

1:14.5

Was this expected was this a surprise? It was not a surprise at all and actually

...

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