Terence Burnham, a finance professor at Chapman University, was a guest on the show. Because U.S. bank accounts are only federally insured up to $250,000, he decided to remove all of his money from his checking account. He reasoned that the risk-to-reward scenario was unfavorable.
Because checking accounts pay a 0% interest rate, there is no reward to having your money there, he said. Since banks borrow short-term money and lend over the long term, it puts depositors at risk if there is some sort of global financial crisis, he concluded.
Another guest, Matt Burnell, an analyst at Wells Fargo, removed Citigroup (C) from his priority list but kept his outperform rating on the stock. He reasoned that the recent issues in emerging markets could weigh on Citigroup because the bank has so much exposure. He said today's U.S. banks have much higher capital requirements and liquidity to handle the type of financial crisis to which Burnham was referring.
Kelly is a seller of Japanese bonds.
Adami said Hain Celestial Group (HAIN) might find support near $80 after providing lower-than-expected guidance.
Najarian said there was some unusual bullish activity in DirecTV (DTV), with a trader buying a noticeable amount of September $80 call options.
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