Seabreeze’s Doug Kass made a bullish call on the stock market tonight. Kass thinks the market has seen its low for the year, echoing his call last year that the market saw its “generational low” in March, 2009.
He thinks the stocks are totally disconnected from the fundamentals and attractive as compared with other risk assets.
He sees the recent economic data that has caused the market decline still suggest economic growth better than 1%.
He sees the S&P 500 trading at 11.5 times next year’s earning but the Treasury bond trading at a much higher multiplier.
He recommends investors pick their investments among the technology stocks for their high beta.
Watch the video (Kass appears about 10 minutes into the video):
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