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Reasons to Sell Stocks; Cantor's Defeat and the Market: Best of Kass

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.

This week Kass wrote about the bearish market predictions of a successful entrepreneur and what Eric Cantor's defeat means for the financial markets.

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A Message From Big

Originally published on Friday, June 13, at 8:08 a.m. EDT.

In the course of writing my diary over the last 15 years, I have chronicled the lives, contributions and views of numerous iconic investment figures: Warren Buffett, Jim Cramer, David Einhorn, Leon Cooperman, Nouriel Roubini, Byron Wien, Barton Biggs, Alan Abelson, Sir Larry Kudlow, Stanley Druckenmiller, Jeff Saut, Peter Boockvar, Mark Grant, Jerry "The Chief" Jordan and many others.

In my upcoming book, Doug Kass on the Markets: A Life on the Street, I have even devoted a chapter to some of these investment pros.

I have also highlighted some less-known (or even unknown) characters that live on the periphery of the Wall Street community: The Bearded Prophet of the Apocalypse and perhaps the most colorful figure, Boca Biff. These are also actual people but for various reasons I shroud their identities in anonymity and have given them monikers instead of using their real names.

This week a new personality was unveiled, Big, who has recently adopted a strong and bearish market view.

Similar to the Bearded Prophet of the Apocalypse, Big is known in investment and corporate circles, so I can't divulge much about him for fear of him being identified (for which he has not granted permission).

Indeed, two members of both TheStreet and CNBC communities will immediately be able to identify Big, and I am asking them this morning to respect Big's privacy.

Unlike Boca Biff, Big is not reckless.

Big is a longtime pal of mine and a neighbor in southern Florida.

He has founded and has successfully sold out of two public technology companies and has probably made nearly $400 million in the process.

He is a consummate sportsman and a very large gambler. (He recently won a well-publicized $7 million in a sports-related bet).

Big is rough around the edges, a street guy. He is quite smart, however, and despite not having an advanced degree, Big has invented numerous products, one of which is well-known today and is often seen in advertisements in the business media.

Most important, he is a good friend to me and has a kind heart.

He is among the most charitable people I know.

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Chart of I:DJI
DOW 17,685.64 -205.52 -1.15%
S&P 500 2,058.40 -23.03 -1.11%
NASDAQ 4,758.1620 -59.4320 -1.23%

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