Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
Osborne cited a substantial growth in U.K. childhood obesity as a catalyst for the tax, which the British government intends to impose in two years. Many other countries are also considering similar moves.
Coca-Cola is a darling for Warren Buffett, but faces plenty of headwinds in addition to today's British tax announcement. Stated simply, it's an Old Economy company with a limited runway for growth.
Still, my new KO short position is small -- at least for now.
I still like junky credit!
The Commerce Department said today that retail sales dropped 0.1% in February -- but the real bad news was a revision to January's numbers. Commerce revised its initial reading of a strong 0.2% gain down to a dramatic 0.4% decline.
This follows the elimination over the past week of my longs of Bed Bath & Beyond (BBBY - Get Report) , Blackstone Group (BX - Get Report) , Goldman Sachs (GS - Get Report) , Morgan Stanley (MS - Get Report) , Potash (POT) , Radian (RDN - Get Report) and Twitter (TWTR - Get Report) .
I've also taken all of these names off of my "Best Long Ideas" list. All told, my "Best Ideas" list is now down to just 13 longs, but has 21 shorts.