Kass: New-Era Thinking

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Below are some examples of today's new-era thinking:

  • Biotech and the cloud form the basis of our investment and business futures.
  • Profit margins and valuations will remain elevated.
  • It's the weather, stupid.
  • Cash is trash.
  • High-frequency trading buoys market liquidity.
  • We are in a period of extended prosperity and self-sustaining growth.
  • The global capital markets and economic growth trajectory will be immune to rising interest rates.
  • China will continue to be the world's economic growth driver.
  • China's leveraged banking and shadow banking system pose limited risks to the capital markets.
  • Geopolitical risks are irrelevant to the global stock markets.
  • Housing has entered a multiyear period of growth in activity and prices.
  • Elon Musk is the new Steve Jobs.
  • Tesla (TSLA) is the company of the future -- on so many levels.
  • Starbucks (SBUX) is a technology company.
  • The Fed's obscuring of natural price discovery will be maintained ad infinitum.
  • There will never again be a 10% market correction.

Be forewarned.

This column originally appeared on Real Money Pro at 9:44 a.m. EDT on March 19.
At the time of publication, Kass and/or his funds were short TSLA and SBUX, 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.

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