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

 | Feb 23, 2017 | 7:17 AM EST
Blind Faith  Signs of a Blow-Off? Sore Winner Trump Sorely Lacks Political Savvy The Teflon Don(ald) and the Market Face Their Most Serious Test As we move toward the proposed Trump tax cuts to be elaborated upon in the president's address to Congress next week, pay heed among other things to the 1987 stock market schmeissing that followed the 1986 Reagan tax cuts. And pay heed to the unlikely kaleidoscope of optimal outcomes against a backdrop of unprecedented division in Washington, D.C., and polarization among the electorate around our country. Indeed, from my perch, those optimal outcomes are no more likely than in the children's fairy tale Goldilocks, which an increasing amount of market participants have embraced. Importantly, two important asset classes and gauges of risk and growth -- the gold and fixed-income markets -- don't seem to be endorsing the vigorous U.S. economic recovery thesis. As I wrote yesterday: "It is one thing when less-than-optimal outcomes occur when valuations are low. It's another thing when, as today, valuations are high following a steady eight-year Bull Market." Here is some of my evidence of the valuations extremes that exist today: Source: Zero Hedge The Nasdaq is more overbought than at the top of the Internet bubble in 2000 (and going all the way back to 1992): Source: Zero Hedge Back to all-time price-to-sales ratios: Source: Zero Hedge Finally, financial asset prices have detached themselves from the state of the real economy: Source: Zero Hedge Bottom Line Beware of the consensus notion of optimal outcomes as, in the spring, there may not be economic growth.
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Doug Kass

 | Feb 23, 2017 | 7:06 AM EST
Here is a good summary of the prices of a broad list of asset classes from last night and early this morning. (Hat tip Zero Hedge)…
RMPIA
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Doug Kass

 | Feb 22, 2017 | 5:07 PM EST
"Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." -- Sir John Templeton …
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Doug Kass

 | Feb 22, 2017 | 3:50 PM EST
The Russell isn't crowing today. Q's over R's and S's.…
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Doug Kass

 | Feb 22, 2017 | 3:11 PM EST
I covered one-third of my day trade and short rental in SPDR S&P 500 ETF (SPY) at $236.18 -- will close out the…
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Doug Kass

 | Feb 22, 2017 | 2:56 PM EST
Following the FOMC minutes, bond yields reversed back down -- after rising before Fed comments. The 10-year yield is at 2.415%, a drop of…
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Doug Kass

 | Feb 22, 2017 | 2:20 PM EST
The Fed talks my book from my opening missive:   "A few participants commented that the recent increase in equity prices might, in…
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Doug Kass

 | Feb 22, 2017 | 1:58 PM EST
Longer on  Hartford Group (HIG) and Campbell Soup (CPB) today. Other…
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Doug Kass

 | Feb 22, 2017 | 12:43 PM EST
Campbell Soup (CPB) has given up its $0.60 gain from the morning high and I am back buying at $58.97.…
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Doug Kass

 | Feb 22, 2017 | 12:28 PM EST
  Jim "El Capitan" Cramer's piece, "Buyers for Bristol-Myers Are Few and Far Between,"  provides a healthy amount of…

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