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Kass: Mr. Market's Road to Perdition

Again, for emphasis, I am not a perma-bear or a Cassandra; I am simply responding to the fundamental and technical realities of the marketplace.

If the U.S. stock market falls in line with my expectations, I am optimistic that there will be plenty of developing opportunities. Indeed, even in the recent modest 3% drop from the recent highs, I have already begun to uncover selected and new long investment ideas, including Yahoo! (YHOO - Get Report), Sourcefire (FIRE), Fusion-io (FIO) and Bristol-Myers Squibb (BMY - Get Report).

As we enter this year's final three months, the one thing I am certain about is that uncertainty will characterize the investing, economic, profits and political backdrop.

Accordingly, I continue to expect the balance of the year to be one in which there is a lot of volatility.

Hopefully, this will provide us with a chance to deliver good investment returns through opportunistic trading, a strategy that I have begun to employ more aggressively in recent weeks.
At the time of publication, Kass and/or his funds were long YHOO, FIRE, FIO and BMY common/long YHOO calls, although holdings can change at any time.

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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Chart of I:DJI
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