Caterpillar CEO Doug Oberhelman's prediction that there won't be a recession anywhere in the world next year is incorrect, Stephen Weiss of Short Hills Capital said Monday on CNBC.
On "Fast Money," Weiss reiterated his short position on Caterpillar.
"If you look at what he said, they still look faulty in their estimates in terms of how they base and how they budget. So he's looking at China to be 8½ percent next year," he said. "He was on CNBC earlier, and he said there'll be no recession anywhere in the world. That's just flat-out wrong."
On CNBC's "Squawk Box," Oberhelman said, "I don't predict a recession anywhere in the world at all in 2013, but Europe is the one where there are so many political unknowns it's hard to see how that's going to end up," he said, adding, "We sure see China past the bottom. I'm optimistic about China in 2013."
(Read More: Caterpillar Earnings Beat, Cuts Full-Year Outlook)
Weiss took issue with Caterpillar's forecast, which stated that the company would hit the same numbers, "plus or minus 5 percent."
China, he added, was a bigger challenge than the company might realize.
"They are getting killed in price-cutting in China. You can buy an excavator for $4,700 and ship it here," he said. "It's about half of what CAT is charging."