Thread by @DougKass

@realmoney

Dec 21, 2020 | 08:20 AM EST DOUG KASS
I Can't Recall When My Bearish Market Outlook Was So Far From the Bullish and Confident Consensus
* In late November I cautioned about the possibility that Covid-19 mutates - the evidence is now that it has

* Risk happens fast

* Today's investors are greedy (speculation has run amok) when they should be fearful

* Not since I was uber bullish in both March 2020 and December 2018 and market participants were fearful and Bearish, have I been so far from the market's consensus

* "The Tesla Top?"

* I even reduced my money center bank exposure for the first time in a long while on the "repurchase" gap after the close on Friday

* As many of my long positions have reached and exceeded my targets I have materially sold down my long book in recent weeks

(profits taken in ($GM) , ($WMT) , ($TWTR) , ($DIS) , ($GS) , ($MS) , ($VBR) , ($VTV) , etc.)

* I have added to my short book and I took a position in Nasdaq puts late last week - December 24 $311 puts

* Besides the Indices, "opening" stocks are my favorite short targets,

as I am large short Hilton and Hyatt $H $HLT

"Volatility, aided by central bankers' suppression of interest rates, remains low.

But, what if: The virus mutates?"

- Kass Diary, Risks Are Being Underpriced @jimcramer @tomkeene @SquawkCNBC @threadreaderapp unroll