Doug Kass: I Was Wrong


Doug Kass, the man who famously nailed the market bottom, is acknowledging that since then his timing hasn’t been spot-on.

This is too his credit — so many so-called gurus can’t acknowledge that their forecasts and trades are anything but 100%.


Hedge fund manager Doug Kass on Monday said his bearish calls in recent months that the benchmark Standard & Poor’s 500 Index .SPX would decline in the double-digits are proving to be wrong.


Kass, the widely followed founder and president of Seabreeze Partners Management, told clients in a note: “I have been wrong — at least, Mr. Market has been saying so!”


In September, Kass told Reuters he was betting the S&P would end 2009 at about 920 and was shorting U.S. equities because “we are facing a period of disappointing economic and corporate growth.”

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