August 14, 2017

Doug Kass expands short exposure to the market

The S&P 500 Composite and Dow Jones Industrial indexes set new all-time highs last week before rolling over. For the week, the S&P 500 gave up 1.4% led by resources and financials. The financial sector, while still outperforming the broad market year-to-date, is facing headwinds from lower inflation and bond yields. 

Doug Kass thinks the markets may go lower,

"I continue to maintain a historically high net short exposure because I believe we face numerous political, geopolitical, economic and market outcomes that could end badly -- very badly."

"My perception of the market's reward is declining while the market's risk is increasing, and in my view the downside may be a much as four times the upside over the next 12 months."





via realclearmarkets.com/articles/2017/08/11/forget_what_the_crowd_thinks_i_remain_manifestly_bearish_102817.html 

August 10, 2017

Trading Directional Options can hurt your wallet



August 8, 2017

Is there any market commentator bearish on the markets ?

August 7, 2017

Apple stock is fully priced | Short AAPL

Shares of Apple has surged after reporting earnings last week, with strong top and bottom line beat, and just as strong guidance, despite a small iPhone sales miss in the current quarter.

Apple sold 40.0 million iPhones, just below the 40.1 million expected, 1.5% higher than a year ago, despite also missing on ASPs (which came in at $606, below the $628 expected) while Chinese revenues disappointed once again declining by 9.5% Y/Y. However, the silver lining, and what most appear to be focused on was Apple's strong forecast, with the company forecasting $49 billion to $52 billion in revenue for the upcoming, critical quarter, a range that was well above sell-side consensus of $49.12 billion, suggesting Apple is quite optimistic about the upcoming iPhone 8 product launch.

Also helping AAPL this quarter was an unexpected boost from iPad sales, with Apple selling 11.4 million units in the quarter, 15% higher than the 10 million it sold a year ago, and well above expectations. 


Doug Kass thinks that Apple is priced to perfection, 
"I believe the shares of Apple are fully priced, at best, as I think the earnings growth rate for the company is less than the consensus views it. But mine continues to be a minority view." 




thestreet.com/story/14258119/2/noticing-negatives-apple-viewpoint-best-of-kass.html

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