Kass: Markets Have Likely Peaked For The Year


Despite the strong share price momentum and the aforementioned emerging optimistic economic/profit consensus, I continue to hold on to the variant view that the markets have likely peaked for the year based on the existence of nontraditional headwinds, an end to decades of aggressive credit expansion and financial inventiveness, a still-vulnerable housing recovery (in the form of outsized phantom inventory challenges) and a still-fragile consumer — among other factors.

– Doug Kass, “Madman at the Gates”, originally posted September 29 7:16am EDT

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