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

| Apr 27, 2015
| 11:52 AM EDT
IWM short is almost $1 to the good now.

Trades Real Money Pro($)

This morning I added to the following longs: RDN, F and GM.

I Don't Believe in Beatles Real Money Pro($)

I dont believe in this voodoo, but I wanted to pass it on.

Dallas Manufacturing Very Weak Real Money Pro($)

Steel imports continue to be a big problem, especially into Houston. Steel rebar is the most problematic, with high levels of imports and very low prices. We continue to see a drastic slowdown in incoming orders from all sectors (energy, mining, agriculture, waterworks, general industrial). At a recent meeting with several foundries across the state, the trend continues to indicate a depressed state of business for industrial manufacturing. Fabricated Metal Manufacturing There seems to be activity, but it is very slow and steady. Our oil and gas customers have come to a complete stop. It looks like everyone in the industry is digging in for a long-term trough. It looks like the graph will not be a "V" with a short flat bottom, but a graph that looks like a bathtub with a large drain at one end that will take some suppliers down. All the metal distributors that have relied so heavily on the oil and gas market are out beating the streets for new business. We have seen more salespeople in the last 30 days than we have seen in the last 30 years. Weather-related issues have delayed delivery of sales. Sales activity is improving, but we are unable to ship and invoice. Things are getting ugly in all of our locations in Texas and Oklahoma. Total business is down 20 percent year to date, and we do not believe we have seen bottom. As of now, we do not expect a meaningful recovery until mid-next year. Booking activity has improved from choppy to less choppy, which should lead to low double-digit growth in backlog and subseque

Berkshire Correlation Failing? Real Money Pro($)

I have argued over the last several years that Berkshire Hathaway (BRK.A, BRK.B), with it's vast and rapidly expanding business base, mirrors the U.S. stock market and economy.

Mo' Boockvar Real Money Pro($)

Peter Boockvar on the data.

Trade of the Week: IWM Real Money Pro($)

As I have written, market leadership is narrowing and most sectors appear overbought.  IWM perhaps showed early weakness relative to the other indices Friday (The Russell 2000 index was down by about 0.3% in a strong "up" tape). The Russell is a very diversified index with no security accounting for more than 0.65% of the Index, but there is some sector concentration: 17% is technology, 14% consumer cyclical, and 14.5% health care. These sectors are particularly vulnerable to some profit taking this week. The Russell 2000 trades at a heightened price-earnings multiple and a large premium-to-book value and multiple to EBITD.
| Apr 27, 2015
| 9:50 AM EDT
High above the Alps I am hearing a rumor that Google is interested in acquirung Twitter. I have no idea whethe...
| Apr 27, 2015
| 9:42 AM EDT
Coming up in my Diary - shorting IWM $126.26.

Facebook, Radian and Twitter Real Money Pro($)

I remain short Facebook (FB) (at about $85) on a trading basis.

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