Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
My Latest Trades
Originally published at 12:41 p.m. EST on December 31 , 2015
Here's a rundown of my latest trades:
- I've further added to my short of the SPDR S&P 500 ETF(SPY) - Get Report on a scale all the way up to $205.70.
- I'm also adding to my longs of Potash Corp. (POT) , Radian(RDN) - Get Report and Twitter (TWTR) - Get Report and the United States Oil ETF(USO) - Get Report .
- On the short side, I'm adding to my shorts of Apple(AAPL) - Get Report and Berkshire Hathaway (BRK.B) - Get Report .
Position: Long POT, RDN, TWTR, USO; Short AAPL, BRK.B, SPY
Peak Speculation (Part Trois)
Originally published at 8:34 AM EST on Dec. 30, 2015
Here are two posts that I fairly recently delivered on the company:
"I saw and warned a few weeks ago of another peak -- 'Peak Speculation,' especially in regard to KaloBios Pharmaceuticals:
'Add "Peak Speculation" to the long list of market "peaks" that I see.
Shares of KaloBios Pharmaceuticals rose more than $26 earlier this morning to hit nearly $46 a share before dropping back somewhat.
Talk about "Peak Speculation"! Or better yet, maybe "Peak Crazy"!!'
-- Doug's Daily Diary, Peak Speculation (Nov. 23, 2015)
Well, KBIO's shares fell some 5% today after authorities arrested CEO Martin Shkreli. I predict that in the fullness of time, the stock -- which was down to $23.59 before the Nasdaq halted trading -- will likely fall to zero."
-- Doug's Daily Diary, KaloBios Shares Could Fall to $0(Dec. 17, 2015)
"KaloBios Pharmaceuticals (KBIO) is up some $21 a share in premarket trading this morning -- a nearly 80% rise. It's rallying on reports that insiders have decided not to lend their shares to short sellers.
This is 'Peak Speculation' -- and joins the long list of peaks that I see!
KBIO won't be a 'Bull Market Killer' in and of itself. But such speculative excesses are clear signs of a maturing bull market."
-- Doug's Daily Diary, Peak Speculation (Part Deux) (Nov. 27, 2015)
Pride goeth before a fall.
At the time of publication, Kass and/or his funds were long POT, RDN, TWTR, USO and short AAPL, BRK.B, SPY, 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.