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

No Takeaways Real Money Pro($)

There will be no "Takeaways" today as I am outta here to prepare for the opening dinner of the second annual Real Money Pro Golf Tournament and…

Hanson On Housing Real Money Pro($)

Strained, end-users competing with record speculation for fewer houses in the same, lower-price-bands while there's an abundance of higher-price band houses and rentals ("mismatched markets" & "distribution crisis"); Investors and speculators making up a massive ~40% of all purchases last year driving US housing, while bonds and bond-like investments are in less favor this year; Tidal-wave of en-vogue, apartments and condos in core regions rushing to market over the next two years; Immigrant/immigration uncertainty; AND, increased cost of debt service, sky-high auto and revolving debt, out-of-control healthcare expense, retail spend deceleration, and variety of other headwinds blowing stiff this spring and summer; ...I struggle to come up with a credible forecast on where incremental demand and purchasing/pricing power will come from this year. ITEM 1) REVERSION TO MEAN INEVITABLE. NEVER, has it required more ANNUAL INCOME to buy the average priced Builders and Resale House. IMPORTANT: Note, how over FOUR
The Evercore ISI Retailers' Sales Survey rose from 48.2 to 51.3, its highest reading since last August, as sales improved in March after a slow F…
Here is a rather dumb observation -- but I will make it... It might be too obvious to be short over the weekend. I remain modestly net long …

Today's Trades Real Money Pro($)

I just paid last sale and added to Hartford Financial Services Group (HIG) Campbell Soup (CPB) and Twitter (TWTR) longs.

The Odds Real Money Pro($)

The o dds of the [healthcare] bill passing just dropped from 25%+ down to 8% during roughly the past hour ...…

Cashin Musings Real Money Pro($)

Midday musings from Sir Arthur Cashin:
With the exception of weakness in Goldman Sachs (GS) and strength broadly in technology,  I don't see much happening today.

On The Set Real Money Pro($)

Back in the saddle getting my sea legs back.

More Boockvar... Real Money Pro($)

"The Markit manufacturing and services composite index for the U.S. fell to 53.2 in March from 54.1 in February. That level is now the lowest since September, and thus gives back all of the post-election gain. For reference, it was 54.9 in October, the same level in November and got as high as 55.8 in January. Breaking down the components has manufacturing at 53.4, matching the level seen in October, and services at 52.9 is barely above the 52.3 seen in September and below the 54.8 print in October. One of the factors in the weakness was, "the latest rise in payroll numbers was only marginal and the weakest for six months." Also, "survey respondents noted that a softer increase in new business had acted as a brake on growth in March... Some firms commented on greater caution among clients, despite a supportive economic backdrop so far in 2017." Cost pressures, though, eased both on the input side and the 'prices charged' side. Bottom line, I want to caution by saying Markit's data is relatively new, without much historical data, so we do take this somewhat [with] a grain of salt. That said, it's still a survey of business sentiment that should be paid attention to, considering the bout of optimism post election. If this data is accurate, there has been an obvious cooling of confidence. We certainly know the actual data in hand has lent itself to Q1 GDP growth of possibly no better than 1%. Are companies feeling better but not acting upon it just yet? Is it just the reality that we are late cycle in this recovery and we've pulled forward so much economic activity that it's just natural to slow down? Are companies worried about higher interest rates, and thus reining in some optimism because corporate debt has exploded higher over the past 7 years? With the auto sector such a huge contributor to economic growth since the recession and now signs of sales and delinquencies rolling over, is the ripple effect filtering into other areas? I would say all of the above."


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