I was listening to Josh Brown yesterday when someone pointed out here – that he had the company’s market cap wrong. I know the company extremely well, and for various reasons, I can’t trade in it. He seemed to have little understanding of what it actually does beyond a vague reference to clinical trials. It’s a very complicated business; unless he has an analyst dedicated to following it, he has no chance. I say that from firsthand experience. That’s the problem with much of the commentary on CNBC: It is a narrative, zero actual analysis of the businesses, with a few exceptions.To go further on this – it was trading in the dump for most of the year, and then it exploded up. And now Josh is interested. CNBC loves stocks that have already gone up.
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
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