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

Break In! Real Money Pro($)

Howard Schultz has announced that he will step down as CEO of Starbucks (SBUX) .   I have covered a portion of my SBUX short at …

Umm, Umm, Good Real Money Pro($)

Campbell Soup (CPB) is trading up $0.90 from today's add on buy.  Umm, umm, good.

Shorting Banks Real Money Pro($)

I remain negative on the overall market. Bank stocks are substantially overbought. Like other market leadership groups, I expect some mean reversion lower in price. The banking sector faces the fundamental challenge of peak housing and peak autos over the very near term and into 2017. I don't expect much of a change in EPS expectations next year.
This is not what you normally see with the Dow Jones Industrial Average at new highs!   At 2:15 p.m. EST:  

From Sir Arthur Cashin Real Money Pro($)

An S&P close below 2190 would increase the technical vulnerability after November's strong run.
"Also, while I won't likely be aiming for it, I suspect we are closing in on a reversal day in bonds and financials. An island reversal could lie ahead, maybe sooner than later." -- Kass Diary  As well, DoubleLine's Jeff Gundlach just announced he sees a top in the equity market and a high in yields/rates by January inauguration. This could precipitate the "island reversal" in bonds and financials

Closed out Trade of the Week! Real Money Pro($)

Last week I initiated a short in the Russell Index via iShares Russell 2000 ETF (IWM) at around current levels. The Russell Index has advanced for 15 consecutive trading session. To me, this is substantially overdone. This week's Trade of the Week is to sell the weekly (Dec. 2 expiration) IWM $131 calls at $2.60. I am also buying the weekly (also Dec. 2 expiration) IWM $132 puts at $0.58.

Housekeeping Items Real Money Pro($)

I took off half of my DuPont (DD) long at these prices -- after a 40% advance since late January (inclusion in Best Ideas List) -- as the r…

Markets Hit Day's Low Real Money Pro($)

The markets hit the day's low as the yield on the 10-year U.S. note approaches 2.5%.

First Time Long Time Real Money Pro($)

I am seeing some large orders to sell banks now. First time, long time. Let's see if the selling is readily absorbed.


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