Domestic Deterioration

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Another concern that I recently expressed is that the warm weather in January and February was a several-standard-deviation event that pulled forward economic activity (retail sales, housing, etc.).

I continue to believe that the domestic sales and profit picture has deteriorated, which puts me in a small minority.

These are all growth- and value-deflating factors.

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Doug Kass is the president of Seabreeze Partners Management Inc. Under no circumstances does this information represent a recommendation to buy, sell or hold any security.


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