Commodities are looking “very attractive” as an investment in the coming months, said Douglas Kass, founder and president of alternative investment management firm Seabreeze Partners.
“There will be a fight for natural resources over the next few years and we’re going to see substantially worse-than-expected food-price inflation,” Kass told CNBC. “I think we’re going to see that for a number of months.”
However, Kass said he expects gold pricesto decline.
“You either believe in gold or don’t—you’re going to get an ‘Emperor’s New Clothes’ moment sometime in 2011.”
Speaking on the economy, Kass said he sees a transition that is “so far successful.”
“[But] the new normal is a path of more uneven and more volatile earnings and economic growth than a closely grouped consensus forecast.”
Scorecard—What He Said:
- Kass' Previous Appearance on CNBC (Jan. 6, 2011)
More Market Intelligence:
- Markets Will Grind Higher in First Half of 2011: Strategist
- Expect 2-3 Million New Jobs This Year: BlackRock's Doll
CNBC Data Pages:
Thursday's Dow Laggards (As of Mid-Morning):
Bank of America
No immediate information was available for Kass or his firm.