Kass' take on perma bears

http://www.thestreet.com/story/10505815/1/kass-the-perma-bear-cult.html

Know anyone like this?

 

Gold is the asset class of choice for perma bears and has been performing great since this crisis began and even before.

Granted, the miners took quite the beating in 08 but they have recovered great (is there a sector out there only about 20% down from the pre crisis highs?) with some of them up 100%, 200%, 300%, 500% or more from the lows.

If you want to bash the perma bears come back when gold is trading below 500$ an ounce.

 

You worship Kass so much that you took his name?

That's just perverse.

Gold has kicked ass, btw.

 

Negative Nancy and Downer Debbie will be along shortly to explain to you why the world is ending, since obviously you haven't been paying attention.

 

Kassz is part of my last name actually...completely unrelated to Doug Kass.

You seem to take offense to this thread rather quickly, even though your name wasn't mentioned. We all know you are a perma bear but I wasn't aware that you also know.

 

I can even see Negative Nancy and Downer Debbie turning this into a flame thread so as to deflect attention away from it.

 

You're either Russian or from somewhere in the Balkans or near the Caspian....that's cool.

I take no offense, I just think Kass will look like a fool soon with his March bottom call.

I shouldn't say Kass 'will look like a fool.'

I mean to say his call will look foolish.

 

Doug Kass: Vicious Correction Due

Friday, May 15, 2009 4:45 PM

By: Dan Weil Article Font Size

Doug Kass, president of money manager Seabreeze Partners, says that while the stock market won’t return to its March lows, a “vicious correction” is in store.

“It’s going to be bumpy and have a lot of potholes, so we’ll have to be cautious,” Kass told CNBC TV.

The long-short fund that he began Jan. 1 is now short for the first time.

“The good news is I believe that … the variant view that we’ve seen a generational low is intact,” he says.

The bad news: “I do think that stocks are ahead of fundamentals,” he says.

“I think the stock market recovery, I would call [it] the 'Miley Cyrus' recovery. It’s very popular now (however) there may be not so much talent underneath that’s reflected in prices. And perhaps it won’t be as enduring.”

And what are the bearish signs? “There’s a hole in the consumer’s balance sheet,” Kass says.

“And there’s a hole in his confidence, which is justified because of the ill-fated dependency on the asset appreciation of home prices and stock prices.”

Bottom line: “The consumption binge is over,” he says. “This great debt unwind, both from a standpoint of consumer and banking balance sheets, is going to have a long and negative tail to it.”

Others also see stocks correcting before resuming their rise.

“The market … has become somewhat overbought, and the correction should essentially follow, but I doubt it will go and make new lows,” investment guru Marc Faber told Bloomberg.

 

You are correct. I am Canadian but the name (the full name) is Polish.

For the record, I wasn't singling you out with this thread, although you do fit the description nicely. The main reason I liked this article was because of the part about the discrediting all government information (employment, housing, etc.). There are alot of people on this board who cry foul whenever the government reports good news. While they may have a point sometimes, there is no way all governement information is manipulated and bullshit...

 

How is this article related to the thread topic?