Doug Kass on the Market

Full Name
Doug Kass on the Market: A Life on The Street

Doug Kass on the Market provides investment advice and guidance from one of the most renowned traders in the world. With anecdotes from Wall Street’s most famous names, including Buffett, Cramer, and Cooperman, this book highlights tricks of the trade, essential value investor insight, and the secrets to being a smart short. Author Doug Kass teaches valuable lessons with smarter investment decisions, lists the most important things to know when evaluating a possible long or short investment, and explains the things you’re not doing to optimize your portfolio. Doug Kass on the Market provides information and guidance, with topics such as going against the grain; data versus instinct; valuation, bubbles, and momentum; and interest rates, inflation, and the Fed.

Table of Contents
Where It Began

  • Introduction
  • The Contrarian
  • A Longtime Bear Turns Bull
  • What a Long, Strange Trip It’s Been


  • Introduction
  • The Case for Short-Selling
  • Short-Sellers under Fire
  • How to Short
  • Lehman Can’t Blame Shorts
  • Stop Pointing Fingers at Short-Sellers
  • Blame Game Is Dishonest
  • 11 Ways to Fix the Short Ban
  • Leave the Short-Sellers Alone
  • In Defense of Short-Selling

Lessons Learned

  • Introduction
  • Sniffing Out Bad Stocks
  • Laugh at Your Own Expense
  • When the Bond Market Talks, Listen
  • Poker Is Flush with Insight for Traders
  • My Tenets of Investing
  • 12 Investment Principles for the Abyss
  • My Recession Checklist
  • Kill the Quants, Punish the ProBears
  • Chase Value, Not Price
  • Six Ways to Right Your Wrongs
  • Four Stages of Market Turning Points
  • Moving On
  • Adapting to Mr. Market
  • In Bernanke We Trust?
  • America’s Pastime Applies to Markets
  • Let the Trading Day Commence
  • A Delicate Balance
  • The Lion’s Share
  • What to Do When You’re Wrong
  • Beware the Stock Market Trading Jones
  • Addressing the Fiscal Cliff
  • One Shining Moment
  • Time Frames and Exposures
  • Such a Long Time to Be Gone and a Short Time to Be Here
  • 10 Laws of Stock Market Bubbles
  • My Stock Market Super Bowl Indicator

The Great Decession: Subprime and Credit/Debt Crisis

  • Introduction
  • Trouble Looms for the Homebuilders
  • Stretched Consumer Nears Tipping Point
  • When the Walls Come Tumbling Down
  • When the Walls Come Tumbling Down (Part Deux)
  • Housing Headed to the Woodshed
  • Housing’s Softness Has Long Reach
  • Subpar Subprime a Growing Problem
  • Ratings Are Subprime’s Dirty Secret
  • Subprime Fungus Will Spread
  • Subprime’s Siren Call
  • Four to Blame for the Subprime Mess
  • Fed Is No Savior in Subprime Slide
  • The Simple Math of Subprime’s Slide
  • Housing Red Ink Could Spell Recession
  • Hedge Funds’ Dirty Little Debt Secret
  • Loaded Up on Leverage
  • Don’t Underestimate How Bad Things Are
  • No Quick and Easy Fix for This Market
  • Brokers’ Profits Riskier
  • Shaking Off the Credit Nightmare
  • Blinded by the Derivatives Boom
  • A Market on the Brink
  • Two Solutions to What Ails the Market
  • Ready for the Bear Stearns Challenge?
  • Investors Have Lost Their Innocence
  • Wall Street Has Sold Out America
  • Welcome to Dystopia
  • Harder than the Average Bear


  • Introduction
  • The Parable of the Mustard Seed
  • On the Road to Recovery
  • Fear and Loathing on Wall Street
  • Bottoms Up, Mr. Market
  • Bottom Call (Part Deux)
  • Printing an Important Market Bottom
  • It Ain’t Heavy, It’s a Bottom
  • The Little Market that Could

Against the Grain

  • Introduction
  • Experts Agree, Recession Is Over
  • Market Has Likely Topped
  • Bearish Arguments Are Roaring
  • Top 20 Signs How Bad the Economy Is
  • More Nuance Is in Store
  • We Are the World
  • The Decade of the Temporary Worker
  • The Scale Tips to the Bullish Side
  • The Lost Decade Has Passed Us
  • Equities Edge toward a Top
  • More on Screwflation
  • A Contagion of Black Swans
  • Apocalypse Soon
  • 10 Reasons to Buy American
  • The Case for Shorting U.S. Bonds
  • Residential Real Estate Is Ready to Recover
  • The Bear Case for Apple
  • A House Divided against Itself
  • Beware the Interest Rate Cliff
  • Housing Faces a Credit Event
  • QE’s Growing Impotence
  • Flawed Case for a Bull Market
  • Everybody in the Pool
  • Expect the Unexpected in 2014
  • Climbing a Wall of Complacency
  • Turn, Turn, Turn

Wall Street Personalities

  • Introduction
  • A Soros Story
  • The Bearded Prophet of the Apocalypse
  • On Being Jim Cramer
  • Defending Cramer
  • Defending Cramer (Part Deux)
  • Leon Cooperman and James Brown: The Godfathers of Hard Work
  • Ben Stein Whistles Past Mortgage Mess
  • Curb Your Enthusiasm, Ben Stein
  • Ben Stein Blames You
  • Eat My Shorts, Ben Stein
  • My Q&A with Nouriel Roubini
  • The Orchid Indicator
  • The Most Important Book
  • The Gospel According to Barton Biggs
  • Walt’s Wit
  • Alan Abelson and Me
  • An Open Letter to Sir Larry Kudlow
  • More Remarkable Tales of Boca Biff

Buffett Watch


  • Introduction
  • 25 Surprises for 2003
  • Surprises in Store for 2004
  • Some Surprises in Store for 2005
  • Surprises for 2006
  • 25 Surprises for 2007
  • 20 Surprises for 2008
  • 20 Surprises for 2009
  • 20 Surprises for 2010
  • 15 Surprises for 2011
  • 15 Surprises for 2012
  • Five More Surprises for 2012
  • 15 Surprises for 2013
  • 15 Surprises for 2014