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

 | Aug 24, 2016 | 2:53 PM EDT
The U.S. dollar is stronger. The price of crude oil fell by $1.33 to $46.77. Gold slipped by $17 to $1,329 and appears likely to threaten support at $1,300 to $1,310. Agricultural commodities. wheat -2, corn -1.5, soybean -9, oats flat. Lumber -7 on weak housing data. Bonds are down small. The 10- and 30-year note and bond yields are unchanged. So was the 2s/10s spread (80 basis points). Municipals and junk flat lined, as did Blackstone/GSO Strategic Credit Fund (BGB) and closed-end muni bond funds. Banks remain the world's fair.: Brokerages are holding in well. Same goes for insurance, but my long Hartford Financial Services Group (HIG) is a laggard. Biotech down by about 2%. Allergan (AGN) and Celgene (CELG) are leaders to the downside, with speculative biotech taken to the woodshed, too. Profit-taking continues in retail. Autos are mixed. Energy stocks nonplussed by oil's descent, thus far. Old tech is mixed, but IBM (IBM) is a downside feature. Media is down small. Ag equipment is weaker (I dissed CAT this morning, added to my short) Staples are lower on a stronger currency. In individual stocks, my longs Radian Group (RDN) and DuPont (DD) are doing God's work! Oaktree Capital Group (OAK) is trading better, but it is an odd stock and it's mostly difficult to understand its daily moves. (T)FANG all lower, but not materially. Here are some valuable contributions on our site today: Jim "El Capitan" Cramer on oil and the little guy.  Tim "Not Judy or Phil" Collins sees Babe Ruth -- i.e., Facebook (FB) -- striking out.  Skip Raschke on frowning (and shorting). Rev Shark is waiting for Godot.  Roger Arnold on a rate rise by the Fed (Fischer-style). 
By

Doug Kass

 | Aug 24, 2016 | 1:48 PM EDT
Business TV's "talking heads" were giddy about yesterday's July U.S. new-home-sales data, but aren't so keen on today's July existing-home-sales…
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Doug Kass

 | Aug 24, 2016 | 1:43 PM EDT
The next two days should have low volume and little share-price action except for trading related to Federal Reserve chair Janet Yellen's…
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Doug Kass

 | Aug 24, 2016 | 1:07 PM EDT
I recently hedged a portion of my long of Twitter (TWTR) by selling September $20 calls at better than $1.50 a share.…
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Doug Kass

 | Aug 24, 2016 | 12:25 PM EDT
Check out this interesting Zero Hedge article on the big build-up in oil companies' debt loads. As I wrote recently, I opened up…
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Doug Kass

 | Aug 24, 2016 | 12:11 PM EDT
Peter Boockvar checks out today's U.S. existing-home-sales data: "July U.S. existing-home sales came in at 5.39 million annualized in July,…
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Doug Kass

 | Aug 24, 2016 | 11:53 AM EDT
I've long argued that Doug Oberhelman, CEO of Caterpillar (CAT) , is among the worst capital allocators around and…
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Doug Kass

 | Aug 24, 2016 | 11:35 AM EDT
Emerging-market stocks look weak technically, as we can see in the recent "double top" for the MSCI Emerging Markets Index (^EEM). Such moves often precede energy-price drops. The Organization of Petroleum Exporting Countries might be losing control of the oil markets again. The overall stock market seems ripe for a correction. Will it be Sell in September or Get Dismembered?
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Doug Kass

 | Aug 24, 2016 | 11:08 AM EDT
I made a short of $105 and $110 October calls on Apple (AAPL) our Trade of the Week yesterday, layering in a "trading…
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Doug Kass

 | Aug 24, 2016 | 10:08 AM EDT
JCPenney (JCP) briefly broke $10 to the downside this morning. Given what I see as a favorable risk vs. reward at these…

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