The Best of Kass
Among his posts this past week, Kass explained why he has become a bull and discussed the possibility of a delay in the Treasury's sale of its AIG shares.
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That's Damn Right!
Originally published on Friday, Nov. 16 at 2:18 p.m. EST.
It was a quick segment on "Fast Money Halftime Report," which concluded in my response to Judge Wapner's question regarding my bullish turn: "Yes, that's damn right!"
Judge first asked me about Apple and then about the markets.
On Apple, I suggested, as Joe did, that the precipitous drop in the shares this week was likely in part a function of margin calls from hedge funds that had outsized positions in the stock (some of them that I know have a more than 15% weighting). Apple, I suggested, was a leveraged play on the capital market, and as stocks fell, it became an ATM (a source of funds and liquidity).