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

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

Bonds are near the day's high, with iShares 20+ Year Treasury Bond ETF (TLT) up 75 cents, and bank stocks are near the day's lows. Limited volatility along most industry sectors today. Allergan (AGN) and Celgene (CELG) -- half of my latest biotech basket -- were up $4.80 and $1, respectively. Gilead Sciences (GILD) was down $1. No follow through from homebuilding stocks. I cautioned yesterday about housing and Mark Hanson cautions today in the previous post. As of 3 p.m. it appears to be the smallest range in the S&P Index that I can remember on an intraday basis. More changes at Twitter (TWTR) -- this time, the heads of business development and media. To me this is an indication that progress has been slow and that the heavy lifting and execution of strategy will take more time than most expected. An active IPO day for a change. Six in total. Robert "Not Rita" Moreno disses Disney (DIS) shares on a technical basis today.  My concerns  are fundamental and are based on the belief that the company's secular earnings-per-share growth rate is under 10% annually compared to historic 18% to 19% annual growth and consensus of 12% to 14% per year. Sometimes things are so quiet it is hard not to fall asleep. But, given my

Hanson on Housing 'Noise' Real Money Pro($)

Real estate maven Mark Hanson summarizes the recent housing data. Pay special attention to the seasonality he has observed, which is in marked contrast to the consensus optimism regarding the releases:

Programming Note Real Money Pro($)

I'm a bit under the weather today, so there will be no "Takeaways" and I will likely be leaving early.
Peter Boockvar looks at the latest "Fedspeak":

Looking to Boost My SPY Puts Real Money Pro($)

I plan to up my long position in SPY puts if the SPDR S&P 500 ETF (SPY) breaks at $209.
I want to really thank everyone for the input in the comments section today regarding my daily Takeaways and Observations column.

Chart of the Day Real Money Pro($)

I noted in my last missive that the two-year/10-year Treasury spread is "basically at a multiyear low."
Estragon: We always find something, eh Didi, to give us the impression we exist?

Recommended Reading Real Money Pro($)

Retailing In America: Valley Girl (Interrupted) Drain No More: Fed Funds R.I.P. Central Bankers to the Masses: 'Let Them Eat Rate!' Distress Testing the Efficient Frontier
I'm starting to re-establish my shorts of Apple (AAPL) and Netflix (NFLX) this morning, shorting more AAPL at $99.35 and additional NFLX at $103.55.


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