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

FB

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Doug Kass

 | Apr 27, 2016 | 5:29 PM EDT
Adjusted for the reduction in the effective tax rate (from 36% to 27%) - FB EPS would have been about a 12% beat (in line with my guesstimate of...

FB

By

Doug Kass

 | Apr 27, 2016 | 4:54 PM EDT
Took in my small rental short for a small loss in Facebook.
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Doug Kass

 | Apr 27, 2016 | 4:32 PM EDT
"Just one more thing" --Lt Columbo  Prior to the…
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Doug Kass

 | Apr 27, 2016 | 3:50 PM EDT
Inside day in the markets, at least as of 3 p.m. ET (in the time that it took to write "Takeaways," the S&P rose by seven handles). Ss (S&P) over Ns (Nasdaq). The U.S. dollar weakened after the Fed's comments. Crude oil advanced by $1.13 to $45.17. Gold rose by $4.60 to $1,248. Agricultural commodities gave back on price. Wheat -3.25, corn -3.25, soybean -3.00 and oats +2.50. Lumber +9.20. Bonds erupted higher in price, lower in yield after above. That is why I re-shorted Financial Select Sector SPDR ETF (XLF) at $23.73. The yield on the 10-year U.S. note dropped by an outsize seven basis points to 1.86% and the long bond by five basis points to 2.70%. Municipals were well-bid and closed-end municipal bond funds advanced ... again. Big mistake selling them earlier in the year on my part! The high-yield bond market moved higher. Blackstone/GSO Strategic Credit Fund (BGB) paused and was flat. Banks experienced some early strength, sold off on the Fed's comments and are beginning to rally from the lows. Brokerages were stronger. Life insurance was unchanged despite the rise in bond prices. Retail was stronger across the board. Former long Macy's (M) was up 45 cents and short Nordstrom (JWN) was up 55 cents. Energy stocks rallied with crude oil. Schlumberger (SLB) rose $1.63 and Exxon Mobil (XOM) was up $1.00. Some positive dividend moves within the space. Old tech was quiet, though IBM (IBM) was up $1.60. Biotech was down most of the day, but experiencing a late day rally. iShares Nasdaq Biotechnology ETF (IBB) was down $1.70. My biotech basket of speculative stocks still appears to be rolling over. Consumer non-durables thrived, as Kimberly-Clark (KMB) bounced from recent weakness and Procter & Gamble (PG) was up 55 cents. Short Coca-Cola (KO) was fractionally higher. Autos were dead flat. Ag equipment was higher, with Caterpillar (CAT) up $1.15 and Deere (DE) up $1.50. (T)FANG continues weak, led by AMZN, down $9, and Tesla (TSLA), down $2.60. Trade of the Week short iShares China Large-Cap ETF (FXI) continues to rally, up 30 cents. NOSH was mixed; Starbucks (SBUX), a favorite short, continues to decline, down 72 cents. It appears to be breaking down from the earnings report last week. Mine is a minority view. CRABBY was helped by Radian Group (RDN), which had an earnings beat and some good credit data (more to come later in the week). In miscellaneous names, Twitter (TWTR) was a twit and Potash (POT) rallied by 40 cents after Monsanto (MON) was upgraded yesterday. Apple was down between $6 and $7 most of the day. Here are some good columns from RealMoneyPro today: Jim "El Capitan" Cramer on the market, which is impervious to AppleApple mea culpa (I respect his candidness) from Mark Sebastian.  Shad Gad "And the Pharoahs" on how to beat the pros.  James Passeri on Mr. Ackman Goes to Washington.  Jack and Jim on Twitter
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Doug Kass

 | Apr 27, 2016 | 3:48 PM EDT
Conference call at 1PM Consensus of $0.15 and revenues of $1.1 billion. This would represent a profit decline of -65% and a near thirty percent drop...
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Doug Kass

 | Apr 27, 2016 | 3:38 PM EDT
I am not current on FB fundamentals. But, as I recall, the company has beaten EPS consensus by between six and sixteen percent in each of the last...
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Doug Kass

 | Apr 27, 2016 | 2:23 PM EDT
Hearing Schwab has stopped selling load funds today. Alot of jobs at risk.
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Doug Kass

 | Apr 27, 2016 | 2:22 PM EDT
Business Insider has an interesting article and chart about Apple (AAPL). Click
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Doug Kass

 | Apr 27, 2016 | 2:08 PM EDT
Two weeks ago I started a new feature -- Subscriber Post of the Week! The first weekly column was from BadGolfer22 (the entire Real Money Pro Golf…
By

Doug Kass

 | Apr 27, 2016 | 2:07 PM EDT
XLF at #23.73 Note the TLT is gapping higher now (up over a beaner) - which is bank non friendly.

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