November 27, 2013

Doug Kass on why the markets can rally

While quantitative easing today might be driving asset prices to potentially unsustainable levels, without stimulating much additional activity, those levels are not that out of the ordinary.

Finally, unlike the exporting of derivatives by our major money center banks (in the last cycle) that nearly bankrupted the world's financial system in 2007-2009, there is none of that today.