SJK
@SJK23424035
Replying to @RevShark @DougKass @fletch_09
Your all over Kass tonight..

What @revshark doesn't understand very well - and as I mention continuously in my Diary - is that works for one person may not work for another person (and vice versa), This is something
that escapes Rev in his commentary. I dont think my approach is the only way to deliver good returns. He seems to think his does - which I always found surprising from a libertarian.
* Day or week positioning in trades of well positioned (technically) small cap spec stocks is
an entirely different business than investing in large, higher quality names over a longer period of time. Its apples to oranges - but both can reap great results and there is value in both strategies.
* As I also mention and have acknowledged religiously, is that there are different ways to trade and different ways to beat the market. Rev's near term prism is to buy/trade stocks that are performing well - reactionary. Mine is to invest and to trade by buying stocks that
are cheap relative to intrinsic value (which obviously takes more time to develop) - anticipatory.
* I am not sure of the value of interminably pointing out the criticism of other strategies as he does - especially when it has worked for a century.
* The reason I blocked him has nothing to do with his trading advice - which is superb - it was because he attacked me unnecessarily on several occasions. While he apologized several times privately and publicly, he continued to make inferences and I blocked him.
Life is too short, I have alot on my plate and I have no reason or time to debate on Twitter with him for several reasons - the most impt of which is that we both write for the same website. I have enough haters on Twitter - and I routinely block them. But first I try to reason
with them. If that fails (as it did with Rev) and it gets to be what I consider to be vulgar and time consumptive (to respond and defend), I block. @threadreaderapp unroll

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More from @DougKass

3 Dec
@realmoney
Dec 03, 2020 | 03:56 PM EST DOUG KASS
Pfizer News Jabs at Market
The market appears to be trading off on news that Pfizer (PFE) expects to ship half of the Covid-19 vaccines it originally planned for this year, because of supply-chain problems. But the pharma company
still expects to roll out more than a billion doses next year.

@pboockvar just mentioned to me that "the S&P Index is trading 16% above its 200-day moving average -- at the same percentage as on Sept. 2."

We are now at the polar opposite of where we were in March.
The fear of eight months ago has been replaced by extreme greed and the absence of doubt.

It is truly amazing that in an investment setting dominated by passive products and strategies that chase momentum (knowing everything about price but nothing about value) --
Read 5 tweets
2 Dec
Coming up on @realmoney (I think this is a good one!)
Investors Are (Inappropriately) Unconcerned That We Are At an Enormous "Distance" Financially to the Next Equilibrium Point in Interest Rates

* It is underappreciated and investors lack concern what may happen when the
currently bizarre rate instability is finally disrupted - as it must be someday
* The mountain of global debt will - more sooner than later - weigh on the capital markets
* We look for clues... that the consensus of rates lower for longer will begin to have the foul odor of
"Group Stink"
* Inflationary expectations and bond yields are quietly ticking up
* I remain short bonds (large sized)
* A further and inevitable drop in prices and rise in yields will likely begin to impact market multiples and rate sensitive areas
Read 5 tweets
1 Dec
@realmoney
Dec 01, 2020 | 09:20 AM EST DOUG KASS
Risk Now Dwarfs Reward
* The S&P is about 20% overvalued
* I am medium-sized (about -25%) net short
* And I have a lot of room to get shorter on further strength

I have been net long for the majority of 2020.

No longer.
I have steadily reduced large holdings in a number of equities to small-sized after the stocks experienced large price share gains and have unattractive upside/downside ratios (e.g., ($DIS) , ($GM) , ($WMT) , ($MS) , ($GS) , ($PZZA) , ($VTV) , ($VBR) , etc.).
And I have totally eliminated some others (e.g., ($TWTR) , ($PNC) ).

The notion of "margin of safety" and reward vs. risk is, too often, missed by the investment community that is now, more than ever, inhabited by those individuals, products and strategies that worship at
Read 5 tweets
27 Nov
Who shorts $TSLA this week, Bobby?
A contrarian and value investor that doesn't focus on price or momentum (a valid and often profitable method of trading) but focuses on "margin of safety" and intrinsic value.
One who bought $XLF at $21 $GM at $29, $DIS at $93, $GS at $185
recently when they looked terrible technically and sold most of them in the last few days (x- $XLF) considerably higher.
So the answer to your questions: When viewed in the prism of security analysis, a value investor who runs longs and shorts, may consider shorting $TSLA owing
to an assessment that the current price materially exceeds the company's "fair market value."
Rather than ridiculing other investing approaches as foolish or anathema, you might at times consider that other methods away from yours can be quite profitable. As I do yours @dougkass
Read 4 tweets
24 Nov
@realmoney
My skin is hardened after all these decades.
At this point little impacts me from the standpoint of ad hominem attacks and/or non rigorous criticism.
The haters on social media platforms like Twitter are pathetic and while I actually feel badly for their plight - I
aggressively and routinely block and report them (leaving them and their words in the purgatory of their isolation).
Its easy to reside in the cheap seats of anonymity - especially by the many that have never been on he playing field.
But, frankly, it is amazing how much grief I
have taken on the banks in 2020 from Tweeps and others.
Not surprisingly, not one of the self confident bears who literally (incessantly) ridiculed me for buying the banks/financials (I have copies of their tweets) have said a word on Twitter or elsewhere in recognition that
Read 4 tweets
24 Nov
@realmoney
Nov 24, 2020 | 10:50 AM EST DOUG KASS
Tesla Is Not Only an Overpriced Stock but the Company's Fundamentals Are Deteriorating
* More on my Tesla short...

The positive impact of an S&P inclusion is blurring the reality of multiple negative fundamentals that are
emerging at Tesla (TSLA) - that investors are ignoring:

* Tesla has been blessed by little need to advertise. But with competition heating up, and without a model refresh, margins will be adversely impacted by the need to raise advertising expenses considerably. This article
explains how sizeable General Motors' (GM) advertising budget is today. I would not be surprised that a year from now, Tesla will be spending 2%-3% on advertising - something none of the EPS models have built in.

* Meanwhile Tesla product prices are being cut around the world.
Read 5 tweets

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