Good point. I apologize to Doug Kass if this wasn't his view. However i advise him to consider the reputational effects of granting a clueless noob headline-writer the ability to besmirch Kass's reputation by printing total BS at the top of his articles.
And Doug Kass wrote "I respectfully disagree with the prevailing negative consensus" From that article it's clear he respects different opinions and forecasts
can you feel it? its the underinvested fund managers and people starting to panic as the train looks like its leaving the station. kass is looking more right every day.
Cutten is mistaken. There is great certainty of certain things. Certainly you would agree. I say, it's certain that the BEARS will never catch the bottom, and the BULLS will never sell the top. http://new.wavlist.com/tv/010/certnly.wav
Kass is predicting BRK to go BK AND he's predicting a bottom? The guy talks out of both sides of his ass.
It seemed rather clear that as of the end of Feb it was time to start getting long the broad market (with down side protection of course). Bear market rallies are even better then bear markets to trade and it would seem that getting 20% in two weeks wasnt bad. The one thing you knew is that the market was NOT going to sit here and do nothing for months. it was either going up ( most likely) or down significantly more.
Doug Kass Hits The Bid And Sells FCX, FAF, FNF, STC, BEN Doug Kass Continues To Think The March Low Was The Market Bottom Barron's Says Buy E-commerce King, Amazon.com (AMZN) March 27, 2009 1:26 PM EDT Doug Kass who recently went long the market, altered his thesis today and decided to hit the bid and go short the market. Kass thinks now is an appropriate time to change his view and raise some cash, but he still does not believe we will surpass the March lows. Doug Kass wrote on Real Money what he sees now parallels strongly with 1937-1939 interim interval. An excerpt from what Kass wrote today, "Too Many Booyahs Now? I am going to stay true to what brought me here -- namely, my baseline expectation and forecast expressed in early March, which, again, parallels the slope of the stock market in 1937-1939 -- and suggest that it is now an appropriate time to raise some cash. Within the context of the greatest political circus ever televised, stocks have not improved because of the government; they are improving despite the government. And in the face of an unprecedented five up 90% days in March, the current rally is clearly different this time and more durable than others that preceded it. Even though market internals have been steadily improving, the Nouriel Roubini Stock Market Bottom is in and a generational low has likely been reached (and will not be breached), so the move now seems stretched as the fear of being out has been replaced the early March fear of being in. The gloom and doom that permeated the investment scene in early March is now disappearing. My sense is that, not unexpectedly, investor optimism is now on the rise and that sentiment indicators will exhibit that heightened optimism as they are released in the days ahead. This coupled with overbought technical indicators lead me to a more cautious view now." Since Kass believes there will be some short-term downside in the market, Kass decided to short the following stocks today. Freeport-McMoRan (NYSE: FCX) First American (NYSE: FAF), Fidelity National Financial (NYSE: FNF) Stewart Information Services (NYSE: STC) Franklin Resources (NYSE: BEN) March 27, 2009 1:26 PM EDT http://www.streetinsider.com/Inside...nd+Sells+FCX,+FAF,+FNF,+STC,+BEN/4518348.html
April 13 at 7:31 a.m. Kass: Clouds on the Horizon As I have recently communicated, it is my view that stocks made an important low in early March, perhaps even a generational low, and may very well continue to advance. There is little question, however, that the road to higher ground will be full of potential potholes in light of the economic and stock market challenges ... As I look beyond the current market rally I have five additional medium-term concerns: 1. I am worried that, even though there are currently signs of economic stabilization, the slope of the recovery will be shallow by most historical standards and the possibility of an economic double-dip in late 2009/early 2010 must be considered, particularly in light of a heavily indebted consumer coupled with proposed tax rate increases by the new administration. ... Regardless of the near-term strength, undoubtedly investors will face a volatile backdrop over the balance of the year in which both corporate managers and investment managers will have a difficult time navigating a lumpy and inconsistent economic growth trajectory. Hopefully, the gray skies expressed above are only clouds passing over the head of Mr. Market. As seen in the follow chart, I continue to maintain that the S&P 500 could rise considerably further (to about 1,050) by mid to late summer, but the road to higher ground will likely be bumpy. ... http://www.thestreet.com/story/10485253/1/kass-clouds-on-the-horizon.html