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

Sir Arthur Weighs In Real Money Pro($)

Market is hypnotized, awaiting tax proposals at 1:30.  Crude inventories actually grew in a
The market has been buoyed by a handful of stocks of a technology kind. From my perch, (T)FANG has been materially exploited. The Nasdaq is getting overbought now. As mentioned at the outset, SPDR S&P 500 ETF (SPY) short interest has been materially reduced and is now back to 2007 levels, and as Peter Boockvar related earlier, bullish investor sentiment has risen in the last week. The long-expected tax reform package is now on our doorsteps, though approval and execution without impacting the deficit is likely problematic. The rumor of the package has been bought -- perhaps the news will be sold. The 10-year U.S. note yield has risen by about 17 basis points from last Tuesday's low yield of 2.16%. Yields again could test the resistance at 2.32% (it is now 2.329%). If bonds rally in price and decline in yield, this could get the risk-parity crowd to sell stocks and buy bonds.  The key to me is the Nasdaq, and I am laser-fixed on the near-term action of that Index today.
Ahead of earnings, Hartford Financial Services Group (HIG) -- my Trade of the Week -- is doing nicely.   I  have bee…
At over $240, Allergan (AGN) breaches some upside resistance this morning.   AGN remains my favorite large-cap long for 2017.

How Tweet It Is! Real Money Pro($)

I am not selling Twitter (TWTR) after its earnings beat. I am working on the quarterly report release now -- I …

More Short Baby Steps Real Money Pro($)

"There is a ground-breaking book that has just come out... Baby Steps! It means setting up small goals, one day at a  time..." &nbs…

The Book of Boockvar Real Money Pro($)

My pal Peter Boockvar, chief market analyst with The Lindsey Group, says MACA, but... (and check out investor sentiment, which conforms with my initial post this morning on reduced SPDR S&P 500 ETF (SPY) short interest): 

Tweet of the Day Real Money Pro($)

@MarkYusko @DividendMaster @jessefelder @DougKass @Convertbond @LanceRoberts @Peter_Atwater @hmeisler $COF NCOs 5%+ pic.twitter.com/kTGufprEII — iamwrong (@gamesblazer06) April 26, 2017
Brad Hamilton (played by Judge Reinhold): Why don't you get a job ,Spicoli? Jeff Spicoli (played by Sean Penn): What for? Brad Hamilton: You need money. Jeff Spicoli: All I need are some tasty waves, a cool buzz and I'm fine. -- " Fast Times at Ridgemont High" After long being addicted 24/7 to business TV, I've tried to meaningfully eliminate its role in my day and materially reduced my consumption of it. But sometimes the methadone wears off and I retreat back into the addiction -- and I just marvel every time I "take a hit" (as I did this morning). Did you ever ask yourself: "How does everyone in the biz media seem to know everything about every subject -- economics, politics, market structure and everything else under the sun. And how, of course, do they know whether to buy, sell or hold every single stock?" These talking heads offer an opinion on every single subject -- and confidently so. But, as Warren Buffett once advised about stock-market forecasters, keep your children and investment portfolios away from 'em. As far as I'm concerned, the business-TV commentators might consider adding three words to their vocabularies: "I don't know." Me? I worked at All-America Burger -- seven months ago. These Wolves on Wall Street recite mostly Genuine Gibberish.      "I don't know."    --Jeff Spicoli (Sean Penn), " Fast Times at Ridgemont High"    Often wrong but never in doubt, the talking heads in the business media have answers to nearly every single question. They conveniently forget their wrong answers.   In fact, many forgot what they said a week ago!.   They routinely emphasize their winning plays and ideas.   And, importantly, they have no recognition of these three important words: "  I don't know."   They talk fast. As a matter of policy, my view is that the faster a talking head speaks, the more superficial the analysis and less valid the conclusions are likely to be.   Confident of view, certain of outcome and often shallow in depth and research vigor, it's mostly genuine gibberish that should be avoided in order to protect your investment well-being. Don't buy the pablum.   Don't rely on their glib statements of fact and predictions of the future, typically based on one-dimensional chart gazing or other techniques.   They generally are selling you something.   The investment mosaic is more complex than reflected in the rather simplistic opinions of these fugazzis -- it's a combination of fundamental, valuation and sentiment.   And, if it was as easy as represented in the business media, librarians would be the richest people in America. (Warren Buffett) Our Jim "El Capitan" Cramer is a clear exception to the rule. His commentary is based on decades of successful investing and outperformance in a real hedge fund. Moreover, he incorporates a strategy and research process of regularly interviewing corporate management -- something very few do! (There are others like Jim, but they are few and far between).   The business media is in the business of making their commentators and talking heads appear to be stars. But the real investment stars are mostly in the background and rarely seen. Subscriber Tattoo522 thoughtfully writes today in our Comments Section:  OMG, this quote from The New Market Wizards book perfectly cuts to the chase of

SPY Shorts Collapse Real Money Pro($)

Speculative Shorts Are Reduced: The short bond market positioning has been reduced in the recent drop in the 10-year U.S. note from 2.60% to 2.21%. The large Treasury bond short position has dwindled as more than 500,000 contracts have been covered, leaving the speculative shorts back to pre-November 2016 levels. Source: Zero Hedge   This morning I wanted to mention that SPDR S&P 500 ETF  (SPY) short interest has

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