Restating his bear case on fundamental basis Is nothing short of deception. Why CNBC allows active traders to work at their book on the air is beyond me.
Let's not let Kass slip out of this one. Keep his 'generational buy' call alive on this board. Maybe enough lever-headed people on this board will get fed up with this game he and Fast Money are playing.
Kass always changes his narrative to fit the trading direction of the day. Back in early October, he wrote a long screed whining that the iPhone 5 was too light and too thin! What a tool! He also claimed that the Apple Store he visited at that time was not nearly as crowded as it was when he visited in August. Pinocchio has more credibility than this guy!
Doug Kass has made so many moronic back peddling calls for years now. Sheep are so stoopid that watch CNBC he knows he won't be held accountable. Same goes for all the entertainers on their.
Agreed... but this time it's much worse. These guys reverse themselves often enough, but when you flip from short to long citing 'generational buy' and in effect, front run the average investor, you simply can't justify such another typical switch in positions. The language he chose is defining, infrequently used and clearly intends a significant commitment to the Bull case for Apple.
My point is this time he is playing a game that I find unlawful if not illegal. He's a person of public influence who's taking a financial gain from his published guidance. And this time the basis of his reversal is clearly not supported by his comments... it's transparently in his self-interest. How, for example, would he defend the term generational buy followed two weeks later by concerns about the same fundamentals that led to his 'generational' call.
I think the whole notion of these traders having the key's to CNBC is more than 'irregular'... it may be criminal or at least, at odds with the stated public policy of the SEC.
This speaks to corruption we find on CNBC. And this time is not subjective... he said generational and two weeks later he thinks those same fundamentals are troubling. This is or course after he'd been famously short.
There's a lot of talk about having these guys prosecuted... the SEC blah blah - but this Doug Kass double flip in inescapably deceptive.
The point is he made his first reversal on a fundamental basis and he's reversing again on the same 'broken' fundamentals no known way to make that case over a two week basis.