The Market as a Casino
Doug Kass
on
October 27, 2026
Investor appetite for leverage is through the roof:
— The Kobeissi Letter (@KobeissiLetter) October 26, 2026
10 largest US leveraged equity ETFs have attracted +$12 billion in inflows over the last month.
This is despite the market cap of these funds falling -$20 billion over the same period.
Recent inflow growth has been led by the… pic.twitter.com/DrACuEqTnh
Position: None
- Category: Daily Diary
Posted by Doug Kass
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.