CNBC’s “Fast Money Halftime Report,” hosted by Scott Wapner, has been celebrating its 10th anniversary with an all-star line-up to talk markets and investing ideas. Some of the special guests were Carl Icahn, Jim Chanos, Nelson Peltz, David Tepper, Brad Gerstner, and Jeffrey Gundlach.
“Fast Money Halftime Report,” airs Monday through Friday at noon.
Wapner is the author of “When the Wolves Bite,” which documents the battle between billionaire investors Bill Ackman and Icahn over investing in Herbalife.
Wapner has reported live from the floor of the New York Stock Exchange and the Nasdaq MarketSite, covering the real-time action of the global financial markets. He was reporting live from the New York Stock Exchange during the May 2010 “flash crash.”
Wapner has also reported several documentaries for the network, including “Hotel: Behind Closed Doors at Marriott,” “Ultimate Fighting: From Blood Sport to Big Time,” which earned him an Emmy nomination, and “One Nation, Overweight,” which documents the impact of the nation’s obesity epidemic.
In 2011, Wapner received an award from the Society of American Business Editors and Writers as well as a Sigma Delta Chi Award from the Society of Professional Journalists for “One Nation, Overweight.”
Wapner discussed the show and markets coverage by email with Talking Biz News. What follows is an edited transcript.
How did you get interested in business reporting?
I thought I was going to be a sports reporter – which was my first love – but took a job straight out of school for a syndicated business show in Washington DC and the rest is history. In all seriousness, I didn’t know I’d end up working in business news for my entire career, but one thing led to another and it stuck. My big break came when I was hired by a local TV station in Dallas, as their franchise business reporter. The market was exploding at the time with several Fortune 500 companies based there and rising stars like Mark Cuban just breaking out.
I would also watch CNBC at my desk during the heyday of the dotcom bubble and became hooked on the excitement of the markets. I still never imagined working at such an amazing place, until I moved back to New York a few years later and got lucky enough to get hired. I’ve been here almost 20 years since, and I wouldn’t trade it for anything.
What attracted you to working at CNBC?
It’s the pre-eminent business news network in the world with the most credible and talented journalists covering the topic. That’s a big attraction in and of itself. I just didn’t know that I’d have to chance to call them my colleagues.
What’s the strategy each day for Halftime Report and what is covered each day?
Our daily mission is to try and get what’s happening in the markets each day and why – right down to the tick. We always stay true to that. Every day you’ll know exactly what our goal is and we never waver from that. It’s about talking to the people who are driving the action, whether it’s a billionaire investor or my very own investment committee.
Why is markets coverage important to CNBC viewers?
It’s what we do. People watch us to get ideas on how to make money at that very moment, or, to keep from losing it. It’s really that simple. And there’s no one covering the markets from every angle with as many resources as we have to capture that critically important story.
How do you keep guests focused on information that can help listeners?
That’s the whole point of what I try to do every day – to get ideas from people and push them to defend them. I’m careful to listen to what they say and to call them out when I think there’s more that we’re not getting. It’s what I know the viewers want and expect from me and my panel.
How does Halftime Report fit into what CNBC airs on a daily basis?
It fits because it goes to the core of what our mission is – to deliver fast, accurate, actionable and unbiased information so that the viewer can make the best decision for their money.
Who are your favorite guests, and why?
The show works because of the investment committee. It’s their honesty and willingness to share winning AND losing trades with people – in real time. It’s the chemistry and conversation that I enjoy the most. Of course I like booking the biggest investors for important interviews, but the show’s backbone is the committee and the connection viewers have with them.
Are you worried that guests sometimes just want to talk about their own vested interests?
All guests try and talk their own books. It’s up to me to challenge them – to take them out of their comfort zone and make them go deeper than they may want. It’s that little nugget of information you pull out that can make all the difference.
What is your typical day like in terms of tracking what’s happening in the markets?
First thing I do when I get up is see where things stand and what stories are going to be the most important of the day. I’ll read analyst reports, calls on stocks and just try to get a sense of what the biggest stories are that will drive trading that given day. Sometimes it’s the fifth most important news story of the day that has the most impact on the actual market. We’ve got to find it.
How did the show change during the pandemic?
Other than having the investment committee do the show remote it really didn’t. Our mission was the same. It just looked a little different.
What do you see happening with television markets coverage in the future?
I think it will evolve as the industry itself continues to evolve. The bottom line is that people will always want actionable markets information, in real time, so I’m quite bullish on the future. Also, as markets evolve and expand there will always be new things to cover, and CNBC has already taken the lead in everything from crypto to the explosion in interest in retail trading.
