Doug Kass's Lucrative Longs

Our very own Doug Kass is gearing up for his trip to Omaha, Nebraska, for the annual shareholder meeting at Berkshire Hathaway (BRK.A/BRK.B) on Saturday. While Doug prepares for his role as the "credentialed bear" at the meeting to question Warren Buffett on his strategies for the company, I decided to take a look at some of Doug's top investment ideas from his daily trading diary over on Real Money Pro. In this article, I dig into a group of three long ideas and why they worked.

First up is Ocwen (OCN). The company services high-risk mortgage loans. Doug reinitiated a long position in the stock on March 6, 2012 at $15.90. The impetus for the purchase was the improving liquidity position at Ocwen. The company announced plans to sell certain mortgage-servicing rights to Home Loan Servicing Solutions (HLSS), which would transform the company from a capital-intensive business to a capital-light model, essentially making it look more like a processing business going forward. The company raised $112 million on the deal (after paying down some debt) and planned to use the proceeds, along with income from operations, to pursue new business (with several portfolios on the market at the time)....577 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

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