Doug kass real money pro12/8/2023 ![]() ![]() doesn't totally control its economic destiny in a flat and interconnected world. It is important to remember that many of the most important supply chains lie overseas, where more restrictive business and social closures have been put in place. ![]() Continued supply chain problems that, in part, fuel inflation and inflationary pressures to levels well above consensus.Less liquidity could result in a marked reduction in flows into equity funds, which has provided unprecedented fuel to the markets in 2021. A more aggressive Fed than is reflected in general expectations.With continued high inflation (a regressive tax), a continued widening in the income/wealth gap houses a wide range of social, economic and political problems and investment ramifications.Modest EPS growth (if any growth at all) when combined with lower valuations could translate into negative overall returns for the S&P in 2022.However, contributing potential negative influences include likely margin pressure from higher costs, a Fed tightening, some evidence of pulling forward demand, etc. ![]() One of the biggest surprises this year has been the resilience of corporate profits. Disappointing EPS growth (probably under 5%) compared to higher expectations.To some degree, this reflectsthe Fed's pivot, which will likely produce higher interest rates, serving to adversely impact discounted cash flow models of long-dated growth stocks. A hard rotational shift from growth to value.Considering today's elevated valuations, that reset has the potential of being more than the historic average. On average, over history, a 100-basis-point rise in fed funds rates is associated with about a 15% valuation adjustment lower. But I will take a shot at it and offer my views of what may be in store next year: His attorney, Priya Chaudhry, said in an email that Majors was unjustly arrested and that it was he who “suffered at the hands” of his accuser.As I have written, the only certainty is the lack of certainty, so developing a set of baseline assumptions and conclusions for next year is as hard as it has ever been. At one point he bumped his hand to his heart to a woman seated near the door. Majors walked out of the courtroom after the hearing, acknowledging some seated in the gallery. 6 after prosecutors from the Manhattan district attorney’s office requested more time for discovery. The judge set a new tentative trial date of Sept. Majors is charged with misdemeanors, including assault, and could be sentenced to as much as a year in jail if convicted. The woman was treated at a hospital for minor neck and head injuries, including a cut to her ear. Majors, 33, appeared in court for what was to have been the start of his trial on charges stemming from a March confrontation with a woman who says he twisted her arm behind her back, struck her on the head and pushed her into a vehicle. Until 1996, he was senior portfolio manager at Omega Advisors, a 6 billion investment partnership. ![]() 6 after New York City prosecutors asked Thursday for more time to prepare. Doug Kass is the president of Seabreeze Partners Management Inc and write Doug’s Daily Diary for Real Money Pro on TheStreet. Using daily point-and-figure charting, a process dating back to the late 1800s, Kamich sees a price target of 8.75 for Hecla Mining, up over 60. NEW YORK (AP) - Actor Jonathan Majors’ domestic violence trial was postponed until at least Sept. For example, Real Money technical expert Bruce Kamich recently selected Hecla Mining as his top pick for 2023 and maybe 2024 based on price charts and volume and momentum indicators. ![]()
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