Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- How pundits walk.
- How the machines are rising up.
Click here for information on RealMoney, where you can see all the blogs, including Doug Kass'--and reader comments--in real time.
- Autos have peaked
- Capital spending remains quiescent
- Housing is stalling
- The labor market making sutherly route
- JPMorgan's comments yesterday that credit card delinquencies are rising and are a threat in the year ahead.
- The message of the 10-year U.S. note yield.
- Importantly, Citigroup domestic Surprise Index is at a 15-month low.
- And, most importantly, as discussed today, the artificiality of today's markets which has brought on by quant strategies that have produced an historic low vol and a bull market in complacency.
"Let's consider that statement. In the last 20 years the VIX closed lower than 10 on a total of 11 days, and 7 of those days were in the past month. Think about that - over the past 2 decades, was the last month the most benign macro environment? (e.g. last week: Comey testimony, UK elections, ECB, geopolitical uncertainty, Qatar, FANG flash crash, etc.)."