Top Traders Unplugged

UGO04: CNBC Legend on the Price of Losing Price ft. Rick Santelli

38 snips
Jul 15, 2025
Guest
Rick Santelli
Rick Santelli, a CNBC correspondent renowned for his insights into the bond market, shares his seasoned perspective with Cem Karsan. They delve into the effects of central bank policies on market dynamics and the troubling loss of honest signals in trading. Santelli warns of the potential breaking points in housing and credit markets, revealing how zero interest rates and unchecked incentives could lead to economic crises. His anecdotes from the trading floor offer a nostalgic yet cautionary view of the current financial landscape.
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ANECDOTE

First Trade Risk Lesson

  • Rick Santelli's first trade was in lumber where tradition granted him a one tick winner to start.
  • The market quickly went limit up then limit down, teaching him early lessons in risk management.
INSIGHT

Fed’s Changing Market Influence

  • The Fed’s role has radically shifted from unseen nudger to a dominant controller.
  • Markets no longer react to unknown Fed actions but rely heavily on forward guidance.
INSIGHT

Greenspan’s Monetary Shift

  • Alan Greenspan introduced aggressive Fed monetary control and forward guidance.
  • This shifted markets and policy from reactive to proactive with increased Fed communication.
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