Friday Night Laugher

Apparently, Dougie Kass aka ‘Mr. Big Bank Believer’ is making the rounds across the internets, leaving egregious comments— in order to defend his erroneous decision to get long bank stocks—prior to their recent “homo-hammering.”

Full article here.

1. Doug Kass Says:
   June 15th, 2008 at 6:09 pm 1. I dont cheerlead – I analyze. My analysis is sometimes right and sometimes wrong- unlike your convicted “no chance” that XLF can rally.
   2. I have been short financials for two years before going long.
   3. I believe my spreadsheets on Citigroup are more accurate that Meredith Whitney’s. I did not “sneer” at her work.
   4. I dont believe C will cut its dividend – rather cashflows (using reasonable assumptions) suggest that C can modestly RAISE its dividend in 2009 and 2010. By contrast Meredith thinks C will eliminate its dividend.
   5. Your rationale against the banks seems to be totally based on technical analysis – which is not my approach (mine is fundamental).
   6. Ad hominem attacks, like yours on myself and Cramer are inexcusable and show little class.
   Doug Kass
   Seabreeze Partners

NOTE: Someone remind me to add that site to the blogroll. I’m too fucking busy to log it now, as you readily know and understand. And, let this message ring in Doug’s ear: you’re fucking wrong. So wrong, you’re going to ruin your life, should you continue to believe what your moronic excel spreadsheets conclude. All you have to do, Mr. Big Bank Believer, is take a trip to California and have a looksy at the real estate market—then find religion and swear to never try to get cute and play both sides of the fucking fence, ever again.

Fuck, if I had money at a ‘short only fund’ and that fucker (fund manager) went long bank stocks, into a maelstrom, I’d redeem my money immediately, just on principal alone.