@realmoney@tomkeen@jimcramer
Jun 25, 2021 | 10:14 AM EDT DOUG KASS
Shorted QQQ!
* At $349.70
The many Group Stinkers that worship at the altar of price momentum (read: Fin TV, money managers, scribes, commentators, etc.) universally liked Amazon (AMZN) and its price action
up to this week.
We witnessed the adulation incessantly in business media platforms as Amazon's shares continued to move from the lower left to the upper right.
This recalls Divine Ms M's wonderful pinned tweet:
"There is nothing like price to change sentiment."
While I am
quite optimistic about Amazon over the next several years, I cautioned on AMZN on Wednesday - citing three potentially significant headwinds over the near term.
Today league leading Amazon is down another - $45/share after being down by about -$60/share on Thursday.
@realmoney The Market is No Longer An Eating Sardine, It is A Trading Sardine
* The trader in me says the market has a slight upside bias after several recent successful tests
* But the fundamentalist in me says the market has alot of downside risk
* When in such a conflict
and conviction is blurry, I tend to trade (and make short term rentals) rather than invest for the longer term (and avoid positioning out into too far into the future)
"There is the old story about the market craze in sardine trading when the sardines disappeared from their
traditional waters in Monterey, California. The commodity traders bid them up and the price of a can of sardines soared. One day a buyer decided to treat himself to an expensive meal and actually opened a can and started eating. He immediately became ill and told the seller the
I remain a non consensus bitcoin bear:
The problem with fiat currencies, like the U.S. dollar, is that monetary authorities can create an unlimited amount of new dollars or other currencies - making it look, to some, like a Ponzi scheme.
The problem with crypto currencies,
like bitcoin and ethereum, is that anyone can make an unlimited number of new crypto currencies - making it, too, look to some like a Ponzi scheme.
Ponzi schemes and scams are only visible to those that have no sense of history or want to believe in magic.
I believe
Most sold first and asked questions later regarding the Coinbase $1.25 convertible offering announced last night. yahoo.com/lifestyle/coin… The details of the deal (a likely low interest rate, wide conversion premium and, most importantly, the capped call transactions) - makes
the deal have very little dilution. I added on the weakness and I wrote on @realmoney it is a very smart
@realmoney
May 06, 2021 | 03:30 PM EDT DOUG KASS
A Few Naive Questions About 'Transitory'
How is "transitory" inflation (high) price stability? Is the Fed violating a core tenet of its mandate? Can they make their own mandate now?
If "transitory" inflation is OK, why isn't
transitory deflation OK? Isn't transitory deflation what their "models" should have suggested with regard to COVID? Virus goes away, economy recovers. Don't need a model. Bridge the gap fine, make sure the underlying financial alchemy hangs together, but after that well why
the need to react so much to a transitory theoretical deflationary situation which never even turned out to be deflationary? They may argue there is substantial risk to transitory deflation, and it could feed on itself and create a fair bit of damage. Fine, same can be said
Keys to a Life Well-Lived, From Rabbi Zion
As we approach the Jewish holiday I wanted to take this opportunity to reposte the original Rabbi Zion @realmoney article from five years ago:
"Yesterday I received a note from Dr. Martin Zion, Chuck's dad. Rabbi and his wife Jane have
been my proxy parents for years; as the anniversaries of their son's death at the World Trade center accumulated, my family has grown ever closer to this remarkably brave couple
I am sure (and I hope) that many of you have a Rabbi Zion in your life.
I tearfully read and digested
Rabbi Zion's words several times on Tuesday as I found them to be moving in message.
As I start my Diary this morning on the Jewish holiday of Yom Kippur, I wanted to share the thoughts from this most iconic figure in the Jewish community with all of you:
"It is a significant
@realmoney
The Unfortunate Aftermath of Speculation
* Novice traders will likely now flee the markets
For months I have argued (with fellow contributors and with the Twitter community) that the wanton speculation in worthless gewgaws would have profoundly negative consequences
for the markets.
I argued that the rapidly rising supply (of SPACs et al) would overcome demand (which would be soon sated).
I opined that many (especially of a retail-kind) would lose alot of money (while only a few traders will retain their trading profits).
But, most importantly, as a consequence of the senseless/obscene speculative wave, we will once again (as we did in late 2007 and in early 2000) lose legions of new investors who thought trading was a "game" that involved simply buying stocks based solely that their charts