Former CNBC anchor Ron Insana spoke with “Full Disclosure” host Roben Farzad about his work during his more than 40 years covering the markets.
“Back in the day, you go to work at CNBC, you do three hours on the air, and then you go home,” said Insana, noting the market closed at 4 p.m.
The additional of social media, Substacks, cell phones, and after-hour trading has exponentially increased the amount of markets information available, noted Insana, who began covering the markets in 1984 for the Financial News Network by reviewing the Associated Press, United Press International, Commodity News Service and Reuters. He could not access Dow Jones because it was considered a competitor.
He added that the tape ran three to four hours behind when the stock market crashed in October 1987.
Insana said he did “man-on-the-street” interviews after the 1987 market crash, and few people cared. The drop primarily impacted professional investors.
“They’re all the same, they’re just dressed differently,” said Insana about dramatic market drops in the past 30 years. “But you can’t really pick the time in which it’s going to break.”
Insana is currently a contributor to CNBC and MSNBC. He also delivers “The Market Scoreboard Report” to radio stations around the country.
To listen, go here.
