He is always on the news about how he keeps shorting and shorting the ETFs like IWM and SPY and how he keeps doubling down on the shorts. how can he afford that without getting wiped out? what happens to his customers. why does he keep fighting the trend?
Who knows but I remember this from last year: Doug Kass, Jim Cramer Need to Change False Ads for Real Money Bring back Lenny Dykstra!
Dont believe what the TV Pundits say. Think about it, if you are play a game of poker are you going to announce to the whole table your hand? What Doug is doing is bluffing, he is trying to scare the weak hands so he can go long equity positions.
Never trust a perma-______ (fill in the blank). If someone becomes a perma bear or bull, or gets married to a position, even if it flies in the face of what the price action actually is, they are either a fraud or have lost their touch.
it works good enough to reel in subscribers. cramer is a perma bull and he is shining. right now at least. a stopped clock is right twice a day.
It's really just a business decision for the hucksters. Even if/when the bear markets show up (at least over the past 20 years), they are quick drops, don't last for long periods of time and are filled with back and fill days higher. When the bull markets show up they grind higher for months and make the perma-bulls look prescient. Just bookmark a quote on down days saying "I'm bullish here" Bookmark a quote on up days "I'm a continued buyer here", etc, etc...it doesn't matter if you have any money behind it, most fools believe that market commentary = trading skill and you will have a bunch of subscribers.
dont forget. cramers last book was titled "getting back to even.". he has a lot of experience on that subject. http://www.amazon.com/Jim-Cramers-Getting-Back-Even/dp/1439158010
His first book was pretty good actually... Especially when he had to call his wife back to save his fund from collapse during Sept 98 I believe... She was always a much better trader than him. At least he married well.
old doug sure goes "all in short"a lot of times before he gets a selloff. he has been all in short iwm since the mid 70s. ------------------------------------------------------------------- DougKass: with many of the nasdaq high fliers arguably v extended, going all in short QQQQ at 58ish now $$