I vividly recall Charlie Clough being fired in early 2000 coincident with the market top. He was wildly bearish. Nobody has ever accused brokerage management of having good timing.
More Quotes from Doug Kass:
It looks like that initial response on Friday was misplaced. This lacks imagination, lacks creativity, lacks forward thinking, lacks youth.Doug Kass
The inventory of unsold homes has been building in the past four or five months - which is not surprising, as affordability has gotten stretched and stretched, and creative financing has grown more absurd.
Doug Kass
The company faces the dual challenge of lower power system orders and a likely hiatus in jet production.
Doug Kass
Debt is plentiful and cheap. There's egregious use of leverage. And you have the introduction of a new class of buyers that artificially buoys demand and inflates prices.
Doug Kass
In the downturn I foresee, no market will be immune. But New York will weather the decline better than other markets.
Doug Kass
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Based on Keywords: clough, coincidentA peacefulness follows any decision, even the wrong one.
Rita Mae Brown
If you are not leaning, no one will ever let you down.
Robert Anthony
Freedom is hammered out on the anvil of discussion, dissent, and debate.
Hubert H. Humphrey