Doug Kass wrote his 2010 Investment and Political Outlook on Barron`s website. Kass is very bullish on the US dollar and he thinks that gold stocks will be the worst performers of 2010:
"The U.S. dollar explodes higher: After dropping by over 40% from 2001 to 2008, the U.S. dollar continued to spiral lower in the last nine months of 2009. Our currency’s recent strength will persist, however, surprising most market participants by continuing to rally into first quarter 2010. In fact, the U.S. dollar will be the strongest major world currency during the first three or four months of the new year."
Regarding sector performance in 2010, Kass added:
"Unhedged, publicly held gold companies report large losses, and the gold sector lies at the bottom of all major sector performers."
Doug Kass was one of the few traders / market commentators to call the March low when we said in early May that we were witnessing a "generational low" in stocks.
1 comment:
This guy is full of himself. Another guy trying to claim credentials based on having supposedly predicted the March low. (investigate that claim) The US dollar cannot head higher when everyone is getting rid of it, the Chinese, the Russians ...everyone. And the Fed is creating new dollars at a rate unprecedented historically in any culture and they have all failed when they carried on this profligate nonsense. The USD is BANKRUPT and the world economy will figure it out soon enough. Then guys like Mr. "explode higher" will fade into obscurity.
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