Tweet

@scottwapner

@jimcramer

More from @DougKass

Dougie Kass

@DougKass

Apr 13

@realmney
Apr 13, 2022 | 03:18 PM EDT DOUG KASS
Banks Fall From Grace
I am not going to repeat my negative viewpoint on banks - I have done a lot of this already in my Diary all week.

But I am astonished that JPMorgan ($JPM) owners have routinely defended their holding in the

largest money center bank by repeating worn sound bytes without discussing the decline in Tier 1 Capital from 13.1% to 11.9% - which reflected the write-down of securities held for sale (mostly fixed income) and counterparty credit risks. The problem is that the banks had 40

year rising bond market so holding the securities for sale did not seem like a risk. It was stupid.
Only on Wall Street can holders, who have watched JPM shares decline in price from $171 to $127, omit such important facts and seem blasé about the aforementioned erosion in

Read 5 tweets

Dougie Kass

@DougKass

Apr 12

@realmoney

Coming up on @realmoney Bank Stocks Are Still 'A Full-On Monet'
* For some time banks have been value traps
* Too late to sell, to early to buy...

In the movie Clueless, Alicia Silverstone plays Cher. Tai, played by Brittany Murphy is feeling a little jealous of Amber, so she

asks Cher if Amber is pretty. Cher, who is pretty much like "as if" - tells her, "She's a full-on Monet," and Tai is all, like, definition please, so Cher elaborates, saying "It's like a painting, see. From far away it's okay, but up close it's a big ol' mess."

@jimcramer

@jimcramer @tomkeene @ferrotv @lisaabramowicz1

To me, the January JPMorgan report was a full-on Monet - it served to draw a line in the sand as it was critical to my negative outlook for banks and the market as a whole (over the last few months).

Read 5 tweets

Dougie Kass

@DougKass

Apr 4

@realmoney

@realmoney Apr 04, 2022 | 03:35 PM EDT DOUG KASS
Will Elon Musk Get in Trouble (Again!) With the SEC
* Possibly!
Today, Elon Musk filed a (passive) 13G filing regarding his 73.5 million share holding of Twitter ($TWTR) .
It was on March 26, 2022 that Musk asked his Twitter

followers about what should be done regarding the company's failure to adhere to free speech principles. He was basically asking the Twitter community, and public Twitter shareholders, how TWTR should change its business for the better.
We should assume that, by that date,

Musk had already acquired a large position in Twitter.
The question is whether by tweeting out the question he was essentially acting as an activist - intending to influence the management of Twitter - not a passive but more of an activist's approach which perhaps would require

Read 5 tweets

Dougie Kass

@DougKass

Mar 28

Wil Smith:
Run, don’t walk, to read this column by Puck’s Baratunde Thurston, a “best-selling author, podcast and television host, and cultural critic focused on the intersection of race, tech, democracy, and climate change in America” (and a black man): Will Smith’s Tragic

Lesson (full text below). Excerpt:
During the peak of his powers, Will Smith submitted to the worst possible instincts, allowing what should have been his brightest moment to reveal his own shadow through an act of violence. Smith’s meandering and pained Oscars acceptance speech

was couched in the language of abuse.
Counseled during commercial breaks by his publicist and other actors, Smith could have conceivably demonstrated a more elevated masculinity by admitting his mistake, apologizing profusely, and acknowledging a very publicly demonstrated

Read 14 tweets

Dougie Kass

@DougKass

Mar 25

@cnbcfastmoney

Extended conversation on @cnbcfastmoney with many making case that corporations have pricing power. @MelissaLeeCNBC @timseymour Respectfully I have a different view:
Mar 24, 2022 | 06:54 AM EDT DOUG KASS
Price Elasticity of Demand
* Lower demand from higher prices seems

inevitable and may be an important theme in the second half of this year
Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded -- or supplied --

divided by the percentage change in price. Elasticity can be described as elastic -- or very responsive -- unit elastic, or inelastic --not very responsive.
I remain fearful that when we combine much higher prices for consumer products (be it a Starbucks (SBUX) coffee, tickets

Read 5 tweets

Dougie Kass

@DougKass

Mar 21

@realmoney

On @realmoney this morning:
Mar 21, 2022 | 09:00 AM EDT DOUG KASS
When It Comes Time To Sell... You Won't Want To
* The asymmetry of Federal Reserve policy responses and the misguided fiscal/regulatory actions are joined at the hip
* It remains my view that inflation will be far

stickier and more elevated than the consensus expects

* The conflict between Russia and Ukraine further exacerbates supply chain dislocations and lengthens logistical problems
* "Slugflation" lies ahead - global economic growth and U.S. corporate profitability

(profits and margins) are likely to disappoint relative to expectations
* More on the $23 pastrami sandwich... realmoney.thestreet.com/dougs-daily-di…

Read 4 tweets

Share this page!

Dougie Kass

People who liked this thread also liked...

Try unrolling a thread yourself!

More from @DougKass

Dougie Kass

Dougie Kass

Dougie Kass

Dougie Kass

Dougie Kass

Dougie Kass

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?