Doug Kass, "The perma-bear cult is an especially strange clique"

By on May 30, 2009

Without naming names, Doug Kass writes about the folly of the perma-bears and their inability to make money. The consistently bearish investor always figures a conspiracy is involved when the market is rising.

Kass begins with this quote:

“An optimist is a person who sees a green light everywhere, while a pessimist sees only the red stoplight…. The truly wise person is colorblind.”
— Dr. Albert Schweitzer

SMA Comment: In spite of what Kass writes, there is quite a bit of market action that looks highly suspicious, i.e., yesterdays peculiar strength in the bond market and the stock market’s meteoric rise in the last 30 minutes of trading. However, apparent market manipulations are no reason to look for a bear market around every corner.


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