@realmoney
Jan 12, 2021 | 12:30 PM EST DOUG KASS
'Schwartzy' Buys
* In March 'Schwartzy' sold out his entire stock portfolio
* Yesterday he bought back into the market
* Res ipso loquitor
I can't even...
Jan 12, 2021 | 12:30 PM EST DOUG KASS
'Schwartzy' Buys
* In March 'Schwartzy' sold out his entire stock portfolio
* Yesterday he bought back into the market
* Res ipso loquitor
I can't even...
Yesterday I received a telephone call from 'Schwartzy' who informed me that he has bought back into the market.
You all might remember my pal 'Schwartzy' back at the market lows in March when I wrote a column, "'Schwartzy' Sells", in which I described a friend's decision
You all might remember my pal 'Schwartzy' back at the market lows in March when I wrote a column, "'Schwartzy' Sells", in which I described a friend's decision
to liquidate his entire (sizeable) stock portfolio...
Bottom Line
'Schwartzy' sold his portfolio out with the S&P Index at about 2200 - within a couple of days of the market's lows.
This week he has bought stocks back (10 months later) with the S&P Index at about 3800.
Bottom Line
'Schwartzy' sold his portfolio out with the S&P Index at about 2200 - within a couple of days of the market's lows.
This week he has bought stocks back (10 months later) with the S&P Index at about 3800.
I may not be the smartest tool in the woodshed but, as a friend of mine would say - "this is a suboptimal" approach to investing.
Though anecdotal and maybe a "one off" I would nonetheless consider 'Schwarty' as a contrarian signpost during the current period of trading and
Though anecdotal and maybe a "one off" I would nonetheless consider 'Schwarty' as a contrarian signpost during the current period of trading and
investing euphoria.
I am.
If you get a chance, reread David Rocker's contribution this morning.
While I nor anyone else knows the timing, traders and investors are likely going to get hammered. Margin calls will come. Portfolios based on home equity loans and other forms of
I am.
If you get a chance, reread David Rocker's contribution this morning.
While I nor anyone else knows the timing, traders and investors are likely going to get hammered. Margin calls will come. Portfolios based on home equity loans and other forms of
leverage will get wiped out as the SEC and the Exchanges, who make money on volume, do nothing.
Many market participants are currently getting drunk on speculation at the punchbowl as the music continues to play.
It ends poorly, it always does. @jimcramer @tomkeene
Many market participants are currently getting drunk on speculation at the punchbowl as the music continues to play.
It ends poorly, it always does. @jimcramer @tomkeene
@SquawkCNBC @cnbcfastmoney @saraeisen @carlquintanilla @michaelsantoli @lizclaman @riskreversal @ScottWapnerCNBC @guyadami @joeterranova @SullyCNBC @convertbond @EpsilonTheory @threadreaderapp unroll
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