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Doug Kass: ‘Euro Experiment Is Going to Fail’

Thursday, 6 Sep 2012 | 5:53 PM ET

European economic woes and seemingly irrational investor exuberance makes a case for a continued bear market, Doug Kass told CNBC on Thursday.

“I remain cautiously pessimistic. I’m not short, but I’m not over-my-skis short the market,” he said on “Fast Money.” “I would say I’m unyielding in my concerns.”

Doug Kass: 'Euro Experiment Going to Fail'
Seabreeze Partners founder and president Doug Kass sticks to his bearish outlook despite Thursday's market gains.

Kass, founder and president of Seabreeze Partners, said that investors are “not being entirely traditional in their investing.”

“By that I mean, they’re looking less at the real economy. Instead, they’re depending and they’re guided by their reliance on effective policy in this global easing put. To me, the risks are high of policy disappointment and/or missteps in policy implementation,” he said. “And I think the euro zone experiment is going to fail.”

Trader disclosure: On Sept. 6, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long CVX; Josh Brown is long LULU; Josh Brown is long RAX; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TFT; Karen Finerman is long MSFT; Karen Finerman is long CMI; Karen Finerman is short JCP; Karen Finerman is short PAY; Karen Finerman is short SPY; Karen Finerman is short MDY; Karen Finerman is short IWM; Keith McCullough is long GLD; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long GLUU; Jon Najarian is long STSI; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in GS; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in TGT; Jon Najarian is long call spreads in SBUX; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in MSFT; Jon Najarian is long call spreads in QCOM; Jon Najarian is long call spreads in KMI.



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