Earlier this week, in print and on Kudlow & Co, Doug Kass of Seabreeze Partners emphasized that he felt the market was printing a significant bottom at these levels. Regular readers of TRB know that Kass is my fave pundit/ commentator and his bottoming call is an important one. It’s also been a homerun so far. Although his argument for getting more constructive on equities is more sophisticated than this example, intellectually, I like hearing about how everyone has become a Chicken Little (the sky is falling!), even those who were uber-bullish 18 months ago. Check out his reasoning on TheStreet.com.
The Dinosaur Trader is having some trouble with a neighbor’s dog lately…take the poll on how he should handle it, before he does something that even a Dino would regret.
Finally, Dealbreaker posted a little-known anecdote from the JP Morgan Rescue of Bear Stearns last year. Apparently, it was at Jamie Dimon’s birthday dinner at midtown’s Avra that the frantic calls from Bear started coming in. Jamie was asked for $30 billion literally overnight! With friends and family waiting inside the restaurant, Dimon told Bear to call the Treasury for that kind of scratch. Dealbreaker wishes Jamie Dimon a Happy Birthday and hopes that he doesn’t have to “save the world” this time around.