Haines Bottom (call of a market bottom on March 10, 2009)
CNBC Squawk on the Street host Mark Haines (1946-2011) went on the air on March 10, 2009 and declared that there was a bottom to the stock market. “I’m going to step out on a limb here…I think we’re at a bottom. I really do,” he said. “Haines Bottom” was first cited on Twitter at 9:10 a.m. on March 10, 2009.
Haines’ call of a market bottom proved to be correct, and “Haines Bottom” became part of the Wall Street lexicon.
Wikipedia: Mark Haines
Mark Haines (April 19, 1946 – May 24, 2011) was a host on the CNBC television network.
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In 1989, Haines joined the newly created CNBC network. Haines was the host of the CNBC TV shows Squawk Box and Squawk on the Street. Haines was on the air when news of the September 11 attacks first broke in 2001. Squawk on the Street was expanded from one hour to two on July 19, 2007, when co-anchor Liz Claman of Morning Call left to co-anchor Fox Business on the Fox Business Network. Haines also presented a financial segment prior to the market open each day on MSNBC’s Morning Joe.
Twitter
Blackberrystocks
@blackberrystock
Mark Haines CNBC 3/10/09 Haines Bottom: Mark Haines, CNBC anchor with Erin Burnett was on CNBC this morning, 3/1.. http://tinyurl.com/cfflor
9:10 AM - 10 Mar 2009
Twitter
barkway
@barkway
ROFL! Erin Burnett on CNBC: razzing Marc Haines about diapers & chafed bottoms says, “Yes I sit next 2 the Haines bottom everyday!”
8:45 AM - 30 Apr 2009
Twitter
tkc3
@tkc3
‘09 word that make me sick: green shoots, transparency, lets be clear, exit strategies and of course…haines bottom.
1:12 PM - 20 May 2009
USA Today
Editorial: 3 years after the market hits bottom
Updated 3/11/2012 7:54 PM
Three years ago, when stock markets were in a deep funk, at least two prominent people made unusually bold and upbeat calls.
One was the late Mark Haines, co-anchor of CNBC’s morning market show. On March 10, 2009, he declared that the market had hit a bottom, a “Haines bottom” as he called it, inviting the inevitable references to undergarments. The other person was President Obama, who said a week earlier that people with a reasonably long time horizon ought to buy stocks.
CNBC
Mark Haines Calls the Stock Market Bottom, March 10, 2009
Thursday, 8 Mar 2012 | 12:00 AM ET
In this clip from the March 10, 2009 edition of CNBC’s..
CNBC
Five years later, ‘still traumatized’ by market
Jane Wells | @janewells
Monday, 10 Mar 2014 | 12:49 PM ET
It’s been five years since the late, great Mark Haines stepped “out on a limb” and called the bottom of the market’s free fall.
Since that day in March 2009, the market has remade all of its losses and then some. So do you feel all better now?
Me neither.
CNBC
Mark Haines’ legendary 2009 call
Bob Pisani | @BobPisani
Monday, 9 Mar 2015 | 5:10 PM ET
“I’m going to step out on a limb here….I think we’re at a bottom. I really do.”
—Mark Haines, March 10, 2009
The Haines Bottom. It’s passed into legend now, and with the benefit of hindsight, plenty have claimed that there were obvious signs of bottoms forming at the time.
But not many were calling a bottom.