From my opener on @realmoney
"As to the bank reports coming up over the next week, given the continuing macro economic headwinds, I (importantly) expect most EPS reports will be only in line to slightly below consensus expectations. While capital market activity should beat
projections, aggregate revenues will be down sequentially, fourth quarter expenses will be higher and loan loss provisioning will be flat to slightly higher (from the third quarter).

With bank stocks elevated, in-line to slightly lower reports (relative to consensus
expectations) could modestly disappoint traders and investors - particularly if my market concerns pan out." @jimcramer @tomkeene @SquawkCNBC @CNBCFastMoney @andrewrsorkin @WilfredFrost @SaraEisen @EpsilonTheory @Convertbond @ScottWapnerCNBC @RiskReversal @threadreaderapp unroll

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More from @DougKass

15 Jan
From yesterday on @realmoney @WilfredFrost @andrewrsorkin @BeckyQuick
Jan 14, 2021 | 07:50 AM EST DOUG KASS
The Easy Money Has Been Made in Banks
* The setup into the current reporting period is poor

* With bank stocks elevated, in-line to slightly lower reports, relative to
consensus expectations, could modestly disappoint traders and investors - particularly if my market concerns pan out

* Consider hedging bank stocks or writing calls against positions now

There was near a universal view that bank stocks were unattractive in March-April last
year.

When the ($XLF) was about $21, and I was buying, it was over $31.50 in pre-market trading, one analyst on our site said it was patently foolish to expect a rally in the sector. As to leading the market it was next to unimaginable to that observer.

A well-known
Read 16 tweets
14 Jan
@realmoney
Jan 14, 2021 | 11:25 AM EST DOUG KASS
Now Hedged in Banks
With this morning's sharp move higher in bank stocks I have hedged out my entire long position (10% weighting) with an ($XLF) short.

I have shorted XLF from the opening on a scale higher. ($31.41 to $31.54).
I expect backing and filling from here over the next several months - but that is likely contingent on my market view being correct.

If I am correct I will cover XLF (down 10% or more) - moving me, again, back long.

I am trying to be as transparent as possible in this
explanation.

I find it interesting that some of the same observers who questioned my sanity in buying months ago are now questioning these sales.

Frankly, I did not expect the bank stocks to pivot higher in such rapid order - I had expected a more gradual and "orderly" rise
Read 4 tweets
14 Jan
Capitalism has found morality and has come to the rescue of a political system that has taken a terrible turn over the recent period with Trump at the helm. Signature Bank, Deutsche Bank, scores of corporations and to the chagrin of Trump, the PGA has
jettisoned its relationship.
Worse than political carnage with be the swift decline of the Trump brand and his businesses. Who, besides his sycophants, want to be associated with the Trump brand? Companies look for safety, stability and confidence of its stakeholders.
If you still worship at his altar, look in the mirror. If you are a member of Mar a Lago, Trump golf clubs or frequent Trump resorts, look in the mirror. And ask yourself why did this revelation take so long? @jimcramer @tomkeene @SquawkCNBC @CNBCFastMoney @andrewrsorkin
Read 4 tweets
12 Jan
I have spent the last year or so endlessly criticizing Trump's conduct, ethical foundation and policies on Twitter.
I was aghast that so many accepted (Trump Acceptance Syndrome? TAC?) his behavior and lack of a moral footing.
To all my haters who defended @realdonaldtrump
and repeatedly tweeted that I and others had TDS (Trump Derangement Syndrome) - I accept your apologies.
Today (one by one) the leaders in the Republican House and Senate are increasingly moving to support impeachment as they now are in favor of purging Trump from the Party.
To those who's views of Trump have not changed since the siege on Washington last week I think you should reassess-- you should recognize that the assault has been ongoing but you simply were unwilling to see with clarity.
It is time for the Republican party to regain the tenets
Read 4 tweets
12 Jan
@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...
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
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.
Read 7 tweets
11 Jan
Coming up on @realmoney

Trump Loses His Voice, Twitter Loses Its Meal Ticket

* Over the last four years Twitter has become President Trump's 'house organ' en.wikipedia.org/wiki/House_org… - a powerful, real-time tool for communicating his views and policy
* I shorted Twitter last
week after predicting, in my "15 Surprises for 2021," in late December, that the President would be banned from Twitter
* On Friday night, Twitter permanently banned President Trump from the platform cnn.com/2021/01/08/tec…
* @realdonaldtrump was Twitter's "mother lode" -
the importance of his Twitter account can not be overstated
* The ban on Trump's Twitter account will have profound ramifications for Twitter's usage, revenues and profitability
* Twitter's shares, which fell on Friday, are down by another -$4 (or -8%) in premarket trading
Read 5 tweets

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