CNBC at it's worst AND why you should listen to Doug Kass

  • Posted by
  • on August 11th, 2006

I just saw Doug Kass get lampooned by his “pal” Mark Haines and the new “hot” chick of the day.

Doug Kass has been trading for 1,000 years – mostly from the shortside. He has survived and THRIVED.

I was ear to the TV trying to hear what he had to say and picked this up:

1. Never have Americans been more leveraged to their homes

2. New home starts are down 18 percent, but in the average slowdown, they DROP 51 PERCENT

3. The real estate market will suffer a hard landing that obviously has begun

4. He is short the multiplier stocks related to housing – Like private mortgage lenders and Bed Bath and Beyond

5. Short other retailers

6. Hedge Fund businesses are a short. He is short Bisys

Doug is someone worth listening to for his long-term trend thinking. I have been shorting the Retail Index (RTH) on and off and will be watching for another entry using Puts.

I covered the Real estate market last night so great minds thinks alike :)

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