Buy index puts, sell index calls or purchase inverse ETFs because stocks, corporate profits and P/E multiples are going down says Real Money Contributor Doug Kass. Those are just some of his surprises for 2014. He also says bonds will outperform stocks this year with the yield on the 10 year US Treasury note finishing between 2.5% and 3%. As for individual stocks, Kass says investors should avoid or even short Apple shares as profit estimates for the tech giant are slashed.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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