Doug Kass, the fund manager at Seabreeze Partners,
quit Twitter in June.
Lots of people were bummed, as Kass can be extremely colourful.
In an interview yesterday on CNBC’s “Fast Money”, he explained his decision to abandon the medium where he’d seemingly be at home:
Twitter has some value to day trader; it has little to no value to the real long-term investor.
I went off because I felt the digital feed of Twitter empowers mean, weak, angry, misinformed people who hide uder this shroud of anonymity.
To me, life is too short to be a punching bag for small people with large egos. And I concluded that it’s not worth navigating through a series of sharks to get to the good fish.
Asked why he didn’t simply block those followers he found bothersome, Kass responded:
Haters are capable of unblocking themselves.
I’ve learned that these haters are flawed, sometimes very flawed, and often have alternative motives behind the Tweets or ad-hominem attacks — and usually it’s to sell something that’s not worth that much.
As far as market commentary, Kass admitted that “the last six weeks have not been fun for the ursine crowd,” but that he remained net short based on the slowdown in China, mixed economic data and rising interest rates.
Here’s the full clip: