Kass also warned of the “ bearish” messages coming out of JPMorgan and others in the financial-services sector in conferences earlier in the week. “Late last week we essentially sold out of our long bank holdings - based on our growing concerns regarding the commercial real estate space and other credit fears, rising deposit (funding) betas and the likely economic consequences of the Fed's problems associated with taming inflation,” Kass wrote in his Daily Diary post, “ Banks Bust,” at 7:30 a.m. Get actionable advice from Doug Kass and 30+ Wall Street pros with a Real Money Pro subscription And so did the TheStreet Smarts’ Todd Campbell. ![]() We recommend Real Money Pro for beginners and experienced investors looking to become better traders.Hedge fund manager Doug Kass, author of Real Money Pro's Daily Diary, and Stephen “Sarge” Guilfoyle, who writes the popular Market Recon column on Real Money, for example, earlier in the week gave warnings about the looming risks. The Real Money Pro subscription offers unique insights into the minds of some of the most successful investing minds in the world you can ask questions, follow their advice, and implement some of their investing ideas. Real Money Pro is part of the TheStreet family of financial products that focuses on actionable recommendations and simplifying the investing process for beginners and experienced investors. If you use our link to sign up for Real Money Pro, you’ll get access to a 14-day free trial on all plans.
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