This sampling of blog posts from Doug Kass was originally published today on Street Insight. It's being republished as a bonus for TheStreet.com and RealMoney.com readers. For more information about subscribing to Street Insight, please
1/22/2007 10:15 AM EST Jim "El Capitan" Cramer wrote about Apple ( AAPL) this morning, and I'd like to respond. One thing that I want to immediately dispute is his statement that Apple's short position is large. It is not! The float at Apple is 850 million shares -- only 24.5 million shares are short (a lowly 2.9% of the float). Moreover, with average trading volume of 70 million shares, (over the last 10 days) and 32.3 million shares of average trading volume (over the last three months), the short ratio is also a lowly 0.90. Game on, Jimmy! No positions in stocks mentioned Start of Citigroup Separation?
1/22/2007 9:30 AM EST There is a lot of speculation about the implications and reasons for the management change made today at Citigroup ( C). As most know, Sallie Krawcheck is leaving her CFO post to become CEO and chairman of the Global Wealth Management Group. From my perch this might not be a promotion or a demotion for Krawcheck; rather it might be a precursor to a split-up of Citigroup. This is something we wrote about in December in our
2. Robert E. Rubin returns to his brokerage roots and becomes the CEO and chairman of Salomon Brothers/Smith Barney after Citigroup (C) decides to break up into three separate companies: a domestic money center bank (Citibank), investment banking/retail brokerage (Salomon Brothers/Smith Barney) and international consumer finance (Citiglobal).No positions in stocks mentioned Is the iPhone Just a Phone? Part IV
1/22/2007 8:50 AM EST Last week I spent a lot of time discussing some reservations I had with several of the features of Apple's (AAPL) iPhone and I questioned the hype which contributed to a sharp rise in Apple's equity capitalization. (See Parts I, II and III).
1. Jobs raised buyer expectations too high.No positions in stock mentioned
2. Jobs raised Wall Street expectations too high.
3. Jobs gave competitors a head start.
4. Jobs undermined Apple TV hype.
5. Jobs put iPod sales at risk.
6. Jobs wrecked Cisco talks.