Doug Kass

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Doug Kass is the president of Seabreeze Partners Management Inc.Expand

Until 1996, he was senior portfolio manager at Omega Advisors, a $6 billion investment partnership. Before that he was executive senior vice president and director of institutional equities of First Albany Corporation and JW Charles/CSG. He also was a General Partner of Glickenhaus & Co., and held various positions with Putnam Management and Kidder, Peabody. Kass received his bachelor's from Alfred University, and received a master's of business administration in finance from the University of Pennsylvania's Wharton School in 1972. He co-authored "Citibank: The Ralph Nader Report" with Nader and the Center for the Study of Responsive Law and currently serves as a guest host on CNBC's "Squawk Box."Collapse

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Doug Kass

 | Jan 30, 2015 | 2:35 PM EST
Crude oil gaps higher, now +$3.65! The reallocation trade that I mentioned earlier appears to be occurring now, with the Nasdaq strong and the…
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Doug Kass

 | Jan 30, 2015 | 2:24 PM EST
At least based on the ratio of total assets of Rydex Bear Index Funds. …
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Doug Kass

 | Jan 30, 2015 | 1:55 PM EST
I have moved back to market neutral just now (from 5% net short), in the event my thesis of a late-day buy program and reallocation comes to fruition.…
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Doug Kass

 | Jan 30, 2015 | 1:40 PM EST
The benefits of low oil may be ambiguous, but there's nothing ambiguous about this chart! Second fastest drop in rig counts in 22 years
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Doug Kass

 | Jan 30, 2015 | 12:37 PM EST
I wouldn't be surprised if we get a month-end reallocation trade at today's close in which bonds (which have prospered in January) are sold and…
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Doug Kass

 | Jan 30, 2015 | 12:35 PM EST
Do not be confident in view. There are far too many potential outcomes (more than almost any time I can remember). Be fearful of the reaper. As a consequence, reduce your portfolio's value at risk (VAR). Remain flexible and reassess your risk profile. Take what a volatile Mr. Market presents to us. Rising volatility can be exploited through opportunistic trading. Maintain above-average cash positions and be diversified across company and industry lines. It's your capital. Cherish and take responsibility for managing it. Listen to people/services you trust, but do your own homework and make your own decisions. This year, I am asking myself two important questions. Try to answer them for yoursel
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Doug Kass

 | Jan 30, 2015 | 12:18 PM EST
I have scaled further into a TLT short - scaling all the way up to $138.35 this morning. And I have scaled into more TBF down to $23.90. I now have a...
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Doug Kass

 | Jan 30, 2015 | 12:13 PM EST
More from Sir Arthur Cashin. Chevron's suspension of their share buyback program puts more pressure on Dow and puts and dent in today's crude…
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Doug Kass

 | Jan 30, 2015 | 11:23 AM EST
Gold is now +$186 and has regained more than half of yesterday's loss. GLD, added to at $120.60 yesterday, is now +$1.50 to $122.30. I read the JPMorgan report on AAMC and I don't see a termination of the contract (for a number of reasons including a large termination fee). Some revision in the agreement with RESI is likely. Indeed, since the contract is yearly one, AAMC mgt has been looking for a multi-year contract revision for some time. If a reasonable contract change is implemented, I expect AAMC to resume its aggressive share buyback after the earnings report. By my calculation AAMC could buy back in excess of 10% of its share (consequential as the float is less than 40% of outstanding shares) in the year ahead. Another positive could be a strengthening of the management ranks. I added small again today into the schmeissing. The market's volatility is increasing and I plan to take advantage of it by trading aggressively, as I have done in recent weeks. All the while I plan to have a short bias in my portfolio. With the yield on the 10-year U.S. note at 1.67% it could be time to take a small short rental in bonds. I am considering it and have already purchased a small position in ProShares Short 20+ Treasury (TBF) at $22.96 and I have shorted small iShares 20+ Treasury (TLT) at $137.80. I have tight stops and will remain flexible in this trade. Twitter (TWTR) trades well (+$0.70) and I have been adding on weakness this week. Potash also trades well after an EPS beat and dividend raise. I am a bit above 5% net short now.
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Doug Kass

 | Jan 30, 2015 | 10:43 AM EST
From Sir Arthur Cashin

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