Trying not to sound arrogant, my belief is that what follows is why I have been able to go for as long as I have without the need for an employer. Yes, it’s a lot of work. That said, leaving Wall Street voluntarily for good now more than 10 years ago and not having to answer to morons is its own reward. I never expected to have some of my best years after heading out on my own and trading only my family’s money, but here we are. Discipline and a “tried and true” method have been my keys to success.
Trading
Disciplinary components that improve the probability for success across all positions for those taking a serious approach….
Target Price (required)
Pivot (sure helps)
Add Levels (encouraged)
Panic Points (required)
Note: Risk management beats stock picking more often than not.
Investing
What your author likes to see when setting up an investment….
Economic story makes sense through the prism of policy.
Fundamental story supports the idea of multiple expansion.
Technical story supports either trend continuance or trend reversal.
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."
A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.
