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 week, Kass explained why Friday's employment report wasn't so rosy and why investors' preoccupation with Apple is reaching mania levels. Please
Originally published on Friday, March 9 at 1:06 p.m. EST.
- The average workweek was unchanged.
- More importantly, average hourly earnings rose by only 0.1% (month over month).
More Fast Times at 'Fast Money' High
Originally published on Thursday, March 8 at 11:44 a.m. EST.
First of all Rat, you never let on how much you like a girl. "Oh, Debbie. Hi." Two, you always call the shots. "Kiss me. You won't regret it." Now three, act like wherever you are, that's the place to be. "Isn't this great?" Four, when ordering food, you find out what she wants, then order for the both of you. It's a classy move. "Now, the lady will have the linguini and white clam sauce, and a Coke with no ice." And five, now this is the most important, Rat. When it comes down to making out, whenever possible, put on side one of Led Zeppelin IV.On Wednesday night's segment, along with Melissa "Stacy" Lee was Dan "Stoner" Nathan, Guy "Spicoli" Adami, Tim "Pirate King" Seymour and Pete "Mr. Hand" Najarian. I offered some observations on Apple ( AAPL) and on the broader market. Let's go to the tape! I explained to the gang that the preoccupation with Apple has become a borderline mania. Consider how much of "Fast Money" is devoted to discussion of the company every evening or that the shoeshine boys are all recommending Apple as well as every noninvestment professional I meet at parties in Palm Beach. This preoccupation reminds me of something that Warren Buffett once wrote: "What the wise man does in the beginning the fool does in the end." The problem with shorting Apple (or any company that has such strong fundamentals) on valuation is that price is not a good justification for shorting -- and I have the scars on my back to prove it over the years!
-- Mike Damone, Fast Times at Ridgemont High