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IPFS News Link • Economy - Economics USA

Doug Kass Liquidates All Long Holdings

•, by Doug Kass

I am now undertaking my across-the-board long selling program.

I will have an extensive discussion of my rationale in Monday's opener - and I will also make the case for an approximate (and playable) 10% market correction over the next six months.

The S&P now stands at about 2805 - that's right at the top end of my long standing 2018 trading range.

I will continue to hold onto my gold and short (SPY) positions.

This is not a recommended course of action for most investors - indeed, it's too extreme for 99.9% of all investors.

It is even a rare move for me.

But, it is a bet that I will be able to buy back my favorite stocks and sectors at a reasonably large discount to current stock price levels - after all a 10% market pullback means that numerous stocks will decline by twice that amount.