'Fast Money' Recap: A Bullish Surprise

In this market, he sees trading opportunities in such oversold names as Duke Realty(DRE Quote), which is trading at 4 times earnings. He said while concerns have been expressed about its development pipeline and funding, his firm has checked into the funding and was comfortable with it.

In view of the unfolding Madoff scandal, Ratigan asked Peter Turecek, Kroll managing director, just how prevalent fraud is in the financial system.

Turecek said that while there is "a bunch of bad actors," the problem isn't "widespread." He said the scandal underscores the need for investors to do their due diligence on companies they are looking at and managers they give their funds to.

Red flags? Turecek said to check for lies in the resumes, patterns of behavior that distract managers from their businesses like litigation and divorce, mismarked portfolios and secretive systems.

"Check out "'Fast Money' Portfolios of the Week" on Stockpickr every Thursday.