In Scott Bessent vs. The World, Can ‘The House’ Ever Win?
The Treasury secretary is fighting rising rates across the G7. But there’s a battle he can win, and it could create a win-win scenario for investors too.
Housekeeping Item: Covering Berkshire
I have covered my Berkshire Hathaway ($BRK.B) short (down another six beaners today) at $511.12 for a +$20/share gain in three trading sessions.
Positions: None.
Berkshire Down
Our newest short Berkshire Hathaway ($BRK.B) is -$8/share today (FINTV was so excited about the stock yesterday).
From Monday:
Sorry, Warren (errr Greg)
Following a large run in the shares and this weekend’s announcements, I have initiated a short in Berkshire (BRK.B ) $532.63 this morning on the gap higher.
More during the week.
Positions: Short BRK.B (VS).
BY DOUG KASS · Aug 10, 2026, 2:43 PM EDT
Things I Did Today
Here are today’s things:
* Shorted more ($SPY) $774.32 and ($QQQ) $725.26
* New position: short Berkshire ($BRK.B) $532.63
* Added to ($MSOS) at $4.33
* Shorted more ($GRNY) $27.91
* Added to ($PEP) long at $137.84
* Shorted more ($JOET) $46.78
Positions: Long MSOS (VVL), PEP (S/M); Short SPY (M), QQQ (S), GRNY (M), JOET (S), BRK (VS).
Sorry, Warren (errr Greg)
Following a large run in the shares and this weekend’s announcements, I have initiated a short in Berkshire ($BRK.B) this morning on the gap higher.
More during the week.
Positions: Short BRK.B (VS).
Cloudflare’s Huge Endorsement: 8 Key Items Shaping the Stock Market Friday
The July Jobs Report, Homebuilder M&A, semi-cap lead times, and other headlines are moving stocks this morning.
Chart of the Day: Berkshire Cash
With a record $397 billion of cash, Berkshire Hathaway ($BRK.A) ($BRK.B) can buy all but 26 of the constituent members of the S&P 500:
Position: None
Mag 7 Down $2.3T!; The SpaceX IPO Order Mystery; Semis Spring Back
Let’s check how far the Magnificent 7 market cap fell in June, a strange Korean broker drama, and Warren Buffett’s caution on Gates Foundation.
A Market Verging on the Absurd
As an Iran deal has landed (for real this time?) and SpaceX has taken off to a wild valuation, here’s my take on the market now.
AI Rotation Props Up Indices But the Underlying Action Is Concerning
I’m upping the defense as I don’t like what I see.