February 26, 2018

Selling more longs to raise cash levels

With the markets having rebounded to Doug Kass calculated near term peak prices, he has moved his account to a more defensive position.

"Fundamentalists no longer control our market destiny in a market dominated by machines and algos. 
Selling more longs and moving into a large cash position. 
We are in a most dangerous market (with the possibility of intermediate term downside far exceeding upside)  - but not for the plethora of reasons presented in the business media."

via twitter