Tuesday, March 13, 2012
Another market "guru" misunderstanding how rates are set
Just heard Doug Kass ("Dougie" as they call him) of Seabreeze Partners and a CNBC Fast Money Contributor out with comments a few minutes ago that display his lack of understanding of the bond market and how rates are set.
He's advising shorting Treasuries because he says that they can "get decimated in a muddle through economic environment."
He mentions the "bond vigilantes" and other such nonsense.
Kass will get this wrong if he actually trades it this way. But if you listen to Kass you never really know what his position is. He'll say he's short bonds and two weeks from now if bonds go up he'll say he never said that or that he was long.