Kass: My 'Fast Money' Recap
NEW YORK (Real Money) -- On Friday I was on the "Fast Money Halftime Report" with Scott Wapner and the gang.
In today's opening missive I am going to outline and expand on my comments from the "Fast Money Halftime Report" in order to fully explain where I stand today.
I have recently downgraded my previously more optimistic expectations for the U.S. stock market, reflecting the confluence of the following four factors, which form a potentially toxic market cocktail.
- Global growth is slowing, and the corporate profit outlook is worsening. The rate of global economic growth is decelerating worse than I had anticipated, and the outlook for corporate profits in 2012-2013 is deteriorating. The U.S. is experiencing its third pause in the subpar recovery that began in 2009, the eurozone is in recession, and economies in important growth countries China and India are slowing down.