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16 Dec, 4 tweets, 4 min read
@realmoney one timer!
Dec 16, 2020 | 09:07 AM EST DOUG KASS
Is Mr. Market Secretariat or a Cheap 'Tuesday Night' Horse?
* Rosy Scenario has taken over the investment playing field "as price has a way of changing sentiment" (hat tip to Divine Ms. M)

* Unprecedented liquidity,
historic monetary largesse and zero-commission trading have been the market's drugs; they will not be available at every corner forever

* The market is a fickle temptress... buying equities over the intermediate term at currently stretched valuations has historically been a
poor decision

* The stock market may end up resembling a cheap claimer, a "Tuesday night horse" rather than Secretariat!

* Consider that the Dunning-Kruger effect (more on that below) may now be in force! @jimcramer @tomkeene @business @lizclaman @carlquintanilla @riskreversal
@ScottWapnerCNBC @terranovajoe @guyadami @davidfaber @Sarge986 @saraeisen @realdonaldtrump @threadreaderapp unroll

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More from @DougKass

Dougie Kass Profile picture
18 Dec
@realmoney
Dec 18, 2020 | 09:29 AM EST DOUG KASS
A Word Of Caution
Yesterday saw the obliteration in a number of speculative stocks.

I don't own SPACs because many are not analyzable -- and my investment methodology is fundamentally-based.

Others don't seem to care -- as
the upside attraction of chasing "shiny objects" offsets the risks and the general lack of knowledge of the companies.

I fully get their view, but I do not share it. I will never purchase shares in a stock that I don't understand or that is trading below intrinsic value simply
because the share price is rising.

The latter approach of speculating has worked out fine for many -- but I am fearful that the strength of recent months may no longer continue.

Caveat emptor.

Again. @jimcramer @tomkeene @davidfaber @RiskReversal @ScottWapnerCNBC @business
Read 4 tweets
Dougie Kass Profile picture
17 Dec
@realmoney Dec 17, 2020 | 08:12 AM EST DOUG KASS
I Like Gold More Than Ever
* Our politicians and central bankers have lost their collective minds as short-term thinking (and policy) has replaced long-term planning

Over the last few weeks I have moved back to a very large long
position in gold, as represented by SPDR Gold Shares ($GLD) .

Both on the fiscal and monetary side I believe our officials have lost their collective minds.

Undisciplined and non-productive spending continues to run amok and so has our nation's bloated debt load and twin
deficits while the rationalization for enormous infusions of liquidity by the Fed is now going beyond the pale.

With real interest rates in deeply negative territory I believe the price of gold may begin advancing more rapidly -- even, perhaps, bitcoin-like" in 2021 --
Read 4 tweets
Dougie Kass Profile picture
15 Dec
@realmoney
What's more "real" - the charts of General Motors and WalMart or the charts of SPACs and the other "shiny objects" of affection?

Well, they both categories are "real." but I would argue that the charts of $GM and $WMT - which have moved steadily lower from their
recent highs (GM from $46.71 to $41.62 and WMT from $153.65 to $145.65) - may foreshadow some broader market concerns.

Don't get me wrong, trade whatevs makes you money - if you can profitably trade speculative stocks, not because they represent fundamental value but because
the share price is taking a northerly route as momentum is your best friend.

But my focus is on the larger market, here - and the deterioration in some large cap market leaders is another reason to have healthy skepticism of the market's overall direction.
Read 4 tweets
Dougie Kass Profile picture
10 Dec
See you all on Monday... from @realmoney
dougie kass • 14 minutes ago
Tesla and Twitter...
Not surprisingly not a word about $TSLA share fall from Tesla fan boys (and girls) on Twitter today.
But, god forbid the stock goes up in my (short) face!
Twitter is a cesspool of
anonymity, dogma, hatred and "I told you so's."
I am trying to stay off Twitter more and I no longer own the shares (having sold at $50-$51 before the last quarterly report (which was disappointing).
With Trump riding into the sunset in January I feel his continued tweeting
will have a diminished impact on daily average users (unlike its potent and positive impact) over the last four years.
I also think that Fox, MSNBC and CNN ratings will dive.
Dougie @jimcramer @tomkeene @business @lizclaman @ScottWapnerCNBC @SquawkCNBC @cnbcfastmoney
Read 4 tweets
Dougie Kass Profile picture
8 Dec
Why I reduced my long standing $AMZN long yesterday and why I further reduced this morning:
@realmoney

Dec 08, 2020 | 10:15 AM EST DOUG KASS
I Further Reduced My Amazon Long
* This could be a big call... or not!

* This "info" could also be the reason for Walmart's a big call
... or not!
(which we sold out at $150-$152) weakness

I have further reduced my Amazon (AMZN) investment long to small-sized.

I wrote this yesterday:

Dec 07, 2020 ' 02:50 PM EST DOUG KASS

I Am Reducing Amazon From Very Large-Sized to Medium-Sized
* For the first time in
quite a while I am lowering my Amazon position based on possible evidence of slipping backlogs

* Mine is clearly a minority view and I have not seen this conclusion shared on the sell-side

I recently published a column, "Pulling Forward" in which I cited:

"...that in certain
Read 8 tweets
Dougie Kass Profile picture
6 Dec
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.
Read 8 tweets

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