Friday, April 15, 2005

Doug Kass calling for $40.

Doug Kass just on Mad Money on CNBC, calling for oil to go down to $40. His logic is that hedge funds and speculation drove this rally up and now their exit will cause a drop to $40.

Although I find Kass fairly annoying (I think it's the tone of his voice, which to me always sounds like a smart alec), I begrudgingly pay attention to him because he's often a good skeptic.

Doug Kass is a commentator on and also runs an investment firm called Kass Partners that leans toward shorting.

[Update: In hindsight, rather glib words above that I'd like to delete, but I hate to start a precedent of editing the historical record. For an apology on my part, read the comments.]