![]() Sharing anecdotes on his interactions with Wall Street's most famous names, from Buffett to Cramer to Cooperman, Kass will highlight tricks of the trade, essential value investor insight, and the secret to being a smart short. With insights culled from 15 years of experience writing for The Street, this book will help you make smarter investment decisions.Organized by topic, Kass' book on the markets will distill years of knowledge as a hedge fund manager and infamous short seller for savvy investors. ![]() Click “+Follow” next to my byline for this article.What are the most important things an investor needs to know when evaluating a prospective company? What questions do fund managers ask in meetings with the C-Suite that the lay shareholder won't ever learn? How do you short a stock properly without losing your shirt? These are a few of the most pressing questions investors must consider when approaching a potential buy or sell position. Receive an email alert every time I write an article for Real Money. Kass has been writing his popular Daily Diary blog for 22 years on Real Money Pro and DePorre pens four columns a day on Real Money, where hes been a. Doug Kass’s Daily Diary and Paul Price, Get columns from Brett Jensen and others.) Click here to learn more about this dynamic market information service for active traders. (This commentary originally appeared on Real Money Pro on May 12 in Doug Kass’s Daily Diary. I am entering a Long (IWM) ($174)/Short (SPY) ($414) position with the intention of catching the gap between the advanced phase of the market in Common Stocks (QQQ) and the weakness in Military Stocks (IWM). It has crashed -28.6% from its cycle peak in NOV of 2021 /zHAyWRRaC2 Doug Kass is a world-renowned hedge fund manager that brings decades of experience and success navigating through some of the most turbulent periods in. US Stocks: After yesterday’s -0.8% decline, the Russell 2000 has fallen -12.8% since January Although business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains essentially the same. ![]() …and Wally Deemer offers a new rule to add to Bob’s list:ġ1. Bull markets are more fun than bear markets. Something else is bound to happen when experts and forecasters agree.ġ0. There are three phases of a bear market – sharp down, reflexive rebound and drawn out fundamental downtrend.ĩ. Bull markets are strongest when they are widespread and weakest when they are confined to a handful of blue-chip names.Ĩ. Until 1996, he was senior portfolio manager at Omega Advisors, a 6 billion investment partnership. Fear and greed are stronger than long term resolve.ħ. Doug Kass is the president of Seabreeze Partners Management Inc and write Doug’s Daily Diary for Real Money Pro on TheStreet. The public buys the lowest at the top and the lowest at the bottom.Ħ. Exponential bullish or falling markets usually go further than you think, but going sideways doesn’t correct them.ĥ. ![]() There is no new era – excess is never permanent.Ĥ. Excess in one direction will lead to the opposite excess in the otherģ. Doug Kass is a world-renowned hedge fund manager that brings decades of experience and success navigating through some of the most turbulent periods in market history. Here are Bob Farrell’s official 10 rules of belonging by Walt:Ģ. That said, it seems like a good time to consider the perspective of two veterans of history and investing, Bob Farrell and my Putnam colleague Wally Deemer: 10 Lessons from Bob Farrell on Investing (and One from Wally Deemer) Thursday’s rally from the low was another day of Russell weakness and poor overall market breadth - conditions that were present through most of the year:Īs I’ve mentioned repeatedly, the S&P’s overall growth has been the work of a handful of large-cap technology stocks. The S&P Index is about 1% higher than the top end of my expected trading range for 2023. * The federal funds rate was only 0.08% on 2/24/22 when the S&P 500 closed at 4117 and when the forecasted 2023 S&P EPS was estimated to be much higher at $244/share. * The federal funds rate stood at 5.08% on Friday, the S&P 500 closed at 4136, and the consensus 2023 S&P EPS is estimated at $224/share, which we think is very optimistic! On monday in my Daily Diary on Real Money Pro I will have two extended discussions, excerpted from a recent Seabreeze Capital Partners LP investor communication, that fully outline my concerns.įor many short and long term reasons – I don’t want to bury lead! – Compared to interest rates, including the correlation between the S&P and Nasdaq indexes, as highlighted below, Seabreeze went into net short exposure to equities: This is the most lopsided and top heavy equity market since 1974. Advances in equities have been remarkably narrow – and haven’t been seen since nifty fifty period that ended (miserably) 49 years ago. ![]()
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