Doug Kass Details Tactics and Strategies of Successful Short-Selling and Much More in His New Book Doug Kass on the Market: A Life on TheStreet
Investment advice and guidance from one of the most renowned market gurus in the world
“I have had the privilege of working side by cyberside with Doug in our writing cave, TheStreet.com, for almost 20 years.… I have come to respect and covet his views and his insights as I know you will as you read his real-time journal detailing the ecstasy, agony, and just plain madness of the world we call Wall Street.” – Jim Cramer, Markets Columnist, TheStreet.com, co-anchor of CNBC’s Squawk on the Street, and host of CNBC’s Mad Money with Jim Cramer, from the foreword for Doug Kass on the Market
The Doug Kass name needs no introduction. A longtime student of the markets, Kass is known to bring keen insight, contrarian ideas, and humor to any financial conversation. With the release of his new book, Doug Kass on the Market: A Life on TheStreet (978-1-118-89298-5, Wiley, November 17, 2014), Kass, President of Seabreeze Partners Management Inc., TheStreet and Real Money Pro contributor, distills years of knowledge as a hedge fund manager and infamous short-seller for savvy investors. Sharing anecdotes on his interactions with Wall Street's most famous names, from Buffett to Cramer to Cooperman, Kass highlights tricks of the trade, essential value investor insight, and the secret to being a “smart short.”
Asked about current stock valuation and what in particular will pressure the markets, Kass says, “Our stock market has obviously benefited from the liquidity provided by unprecedented monetary easing. But in the U.S., each progressive quantitative easing has had a more restrained impact on economic growth, and there is growing evidence that policy has now become a blunt tool. The Federal Reserve has built a bridge to growth, but it can't deliver the destination on its own. The flattening of the yield curve tells a story of slowing domestic growth. So, if our economy fails to reach "escape velocity" in the months ahead, we'll see an a-ha moment in which investors, to quote the singer Peggy Lee, will say, "Is that all there is?"
As one of the most essential voices on Wall Street with a variant view on stocks, no one can claim to know the tactics and strategies of successful short-selling better than Kass. His insights can quickly turn into actionable ideas that make for very profitable trades and investments, and with the release of this book, Kass aims to equip readers with:
- The most important things an investor needs to know when evaluating a prospective company
- The questions fund managers ask in meetings with the C-Suite that the lay shareholder won't ever learn
- Shorting like a pro
- Data versus instinct
- Interest rates, inflation, and the Fed
- Valuation, bubbles, and momentum
- Ways to right your wrongs
With a profile and a career history that can’t be matched, Kass was handpicked by Warren Buffett to join him in a roundtable discussion as a “credentialed” bear at the 2013 annual meeting for shareholders of Berkshire Hathaway. The book includes an entire section dedicated to the “Oracle of Omaha” and a recap of Kass’s gentle yet withering face-to-face riposte against Warren Buffett. Kass recalls this moment as “one of the most memorable weekends” in his career history.
Doug Kass on the Market: A Life on TheStreet is filled with insights culled from four decades of experience is all about contributing to the bottom line, aka, making smarter investment decisions.
About the Author
Doug Kass is the founder and president of Seabreeze Partners Management. From 1994 to 1996, he was a senior portfolio manager at Omega Advisors, a $10 billion investment partnership. Formerly, he was executive senior vice president and director of institutional equities of First Albany Corporation and JW Charles/CSG. He is a frequent guest on Bloomberg TV and CNBC's The Kudlow Report, Jim Cramer's Mad Money, Squawk Box, Street Signs and Fast Money. He co-authored "Citibank: The Ralph Nader Report" with Ralph Nader and the Center for the Study of Responsive Law. Kass writes a daily trading diary on TheStreet's Real Money Pro and has lectured on short-selling at Harvard Business School, Yale University's Graduate School of Management and at Northwestern University’s Kellogg School of Management. Kass has been interviewed in and has written numerous articles for Barron's, including several cover stories and editorials. He has also been quoted in the Financial Times, The Wall Street Journal, The New York Times, The Washington Post, and in many other newspapers around the world.