NEW YORK (TheStreet) -- Doug Kass of Seabreeze Partners is known for his accurate stock market calls and keen insights into the economy, which he shares with RealMoney Pro readers in his daily trading diary.
Among his posts this past week, Kass explained why the market is setting itself up for disappointment, why he ditched his Citigroup position on Thursday and what you should do when the market goes against you.
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Ignorance Is Bliss
Originally published on Friday, March 8 at 2:14 p.m. EST.
- If hopes of a grand fiscal bargain are being incorporated in stock prices, disappointment lies down the line.
Citigroup's Stingy Buyback
Originally published on Thursday, March 7 at 5:37 p.m. EST.
"One last thing."Citigroup (C) requested only a $1.2 billion buyback through first quarter of 2014. This represents less than 1% of the company's market capitalization. Moreover, the bank pays only one penny a quarter in dividends, and it didn't request an increase! The "Fast Money" gang thinks this is positive. I respectfully disagree. I am selling the rest of my Citigroup on the strength in after-hours trading. At the time of publication, Kass was long Citigroup.
-- Lt. Columbo
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