With Bob Pisani, CNBC “On-Air Stocks” Editor, Expert on Real Estate
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Veteran Wall Street reporter, Bob Pisani, speaks with Steve about the spate of IPOs with the market near all-time highs, as companies choose to go public when the market is receptive and valuations are strong. He sees the IPO market as healthy – with many hot IPOs and some misses, which tells him that investors aren’t blindly piling into IPOs but are analyzing the business’s fundamentals. He lays out some of the sectors that have had successful IPOs, and lists a few that are driven more by their emotional connect to investors than their fundamentals may justify – so there’s some froth and some fad mixed into a bunch of really solid companies that have gone public.
Pisani also shares his thoughts on Greece and how markets have been responding to Greece’s day-by-day debt play. Greece has about $300 billion in outstanding debt – which is a lot of money for this small Mediterranean nation – and most of these borrowings went to paying off pensions, not into investing in infrastructure and development. So Greece is suffering from really troubling and virtually intractable problems, while the stalling takes a toll on its economy and people.
Finally, he shares his candid thoughts on what the failure of Greece could mean for the rest of Europe.