Kass' take on perma bears
- Thread starter Kassz007
- Start date
Gold is the asset class of choice for perma bears and has been performing great since this crisis began and even before.
Granted, the miners took quite the beating in 08 but they have recovered great (is there a sector out there only about 20% down from the pre crisis highs?) with some of them up 100%, 200%, 300%, 500% or more from the lows.
If you want to bash the perma bears come back when gold is trading below 500$ an ounce.
Granted, the miners took quite the beating in 08 but they have recovered great (is there a sector out there only about 20% down from the pre crisis highs?) with some of them up 100%, 200%, 300%, 500% or more from the lows.
If you want to bash the perma bears come back when gold is trading below 500$ an ounce.
Quote from Kassz007:
http://www.thestreet.com/story/10505815/1/kass-the-perma-bear-cult.html
Know anyone like this?
You worship Kass so much that you took his name?
That's just perverse.
Gold has kicked ass, btw.
Quote from Kassz007:
Know anyone like this?
Negative Nancy and Downer Debbie will be along shortly to explain to you why the world is ending, since obviously you haven't been paying attention.
You're either Russian or from somewhere in the Balkans or near the Caspian....that's cool.
I take no offense, I just think Kass will look like a fool soon with his March bottom call.
I shouldn't say Kass 'will look like a fool.'
I mean to say his call will look foolish.
Doug Kass: Vicious Correction Due
Friday, May 15, 2009 4:45 PM
By: Dan Weil Article Font Size
Doug Kass, president of money manager Seabreeze Partners, says that while the stock market wonât return to its March lows, a âvicious correctionâ is in store.
âItâs going to be bumpy and have a lot of potholes, so weâll have to be cautious,â Kass told CNBC TV.
The long-short fund that he began Jan. 1 is now short for the first time.
âThe good news is I believe that ⦠the variant view that weâve seen a generational low is intact,â he says.
The bad news: âI do think that stocks are ahead of fundamentals,â he says.
âI think the stock market recovery, I would call [it] the 'Miley Cyrus' recovery. Itâs very popular now (however) there may be not so much talent underneath thatâs reflected in prices. And perhaps it wonât be as enduring.â
And what are the bearish signs? âThereâs a hole in the consumerâs balance sheet,â Kass says.
âAnd thereâs a hole in his confidence, which is justified because of the ill-fated dependency on the asset appreciation of home prices and stock prices.â
Bottom line: âThe consumption binge is over,â he says. âThis great debt unwind, both from a standpoint of consumer and banking balance sheets, is going to have a long and negative tail to it.â
Others also see stocks correcting before resuming their rise.
âThe market ⦠has become somewhat overbought, and the correction should essentially follow, but I doubt it will go and make new lows,â investment guru Marc Faber told Bloomberg.
Friday, May 15, 2009 4:45 PM
By: Dan Weil Article Font Size
Doug Kass, president of money manager Seabreeze Partners, says that while the stock market wonât return to its March lows, a âvicious correctionâ is in store.
âItâs going to be bumpy and have a lot of potholes, so weâll have to be cautious,â Kass told CNBC TV.
The long-short fund that he began Jan. 1 is now short for the first time.
âThe good news is I believe that ⦠the variant view that weâve seen a generational low is intact,â he says.
The bad news: âI do think that stocks are ahead of fundamentals,â he says.
âI think the stock market recovery, I would call [it] the 'Miley Cyrus' recovery. Itâs very popular now (however) there may be not so much talent underneath thatâs reflected in prices. And perhaps it wonât be as enduring.â
And what are the bearish signs? âThereâs a hole in the consumerâs balance sheet,â Kass says.
âAnd thereâs a hole in his confidence, which is justified because of the ill-fated dependency on the asset appreciation of home prices and stock prices.â
Bottom line: âThe consumption binge is over,â he says. âThis great debt unwind, both from a standpoint of consumer and banking balance sheets, is going to have a long and negative tail to it.â
Others also see stocks correcting before resuming their rise.
âThe market ⦠has become somewhat overbought, and the correction should essentially follow, but I doubt it will go and make new lows,â investment guru Marc Faber told Bloomberg.
You are correct. I am Canadian but the name (the full name) is Polish.
For the record, I wasn't singling you out with this thread, although you do fit the description nicely. The main reason I liked this article was because of the part about the discrediting all government information (employment, housing, etc.). There are alot of people on this board who cry foul whenever the government reports good news. While they may have a point sometimes, there is no way all governement information is manipulated and bullshit...