Doug Kass Poses Market Rorschach Test

Doug Kass over at TheStreet/RealMoney has posed a kind of backdoor market Rorschach test today. By posted a faux conversion/confession on his supposed shift from bearishness to raging bullishness he got lots of attention — and now bears and bulls alike are harumphing about it.

Why? Because bears are using it to say bulls are idiots, in that they drove stocks higher on a major bear’s implausible conversion to bullishness, and that just shows how frothy things are, and so you should Sell. And bulls are saying that the market’s extreme sensitivity to a Kass’s implausible conversion from bearishness to bullishness shows how oversold things are, therefore you should buy.

Such fun. More here.

Related posts:

  1. Borges, Facebook, and the Web 2.0 Rorschach Test
  2. Why Bears Always Have the Best Arguments
  3. Survey: List of Top Stock Market Bears
  4. Kass on the Financials: Buy
  5. Oaktree and the Trouble with Major Market Bottoms

Comments

  1. john says:

    Doug Kass is awesome….I can’t believe Bloomberg picked this up wtihout noting it was an April fools.

  2. huh says:

    where did bloomberg pick this up?

  3. noone says:

    How did this get so much legs? He ends his note with ‘April Fools Day!’ and stating his short positions.

  4. Frymaster says:

    Oh, my days, somebody please post video of the financo-newsers taking this for realsies.

  5. Frymaster says:

    This just proves that Americans can’t read.

  6. Lord says:

    The difficulty is the market may have been oversold for the present, but perhaps not for the future.

  7. April Fools!! says:

    Huh, no one picked up the story. Barry Ritholtz wrote an April Fool’s post saying all the major media outlets picked up the story. And then US News & World Report and Business Week didn’t know Ritholtz was joking, and they fell for the 2nd hoax, reporting about how all the media outlets picked up the story. It was a double windup.

  8. April Fools!! says:

    Barry Ritholtz fooled Katy Marquardt at US News & World Report, http://www.usnews.com/blogs/money-matters/2008/4/1/april-fools-gag-pranks-financial-media.html