Douglas Kass, the investment manager betting against Berkshire Hathaway Inc., accepted billionaire Warren Buffett’s challenge of asking bearish questions about the company at its annual meeting in May.
The post-election rout in U.S. stocks has driven the Standard & Poor’s 500 Index down so far that it would have to advance 26 percent to reach the valuation of bull markets since John F. Kennedy was in the White House.
Douglas Kass, the money manager who recommended buying stocks when the market bottomed in March 2009, said the Standard & Poor’s 500 Index will rally 5.1 percent through the end of the year as European policy makers work to solve the debt crisis and U.S. economic data improve.
Douglas Kass, who manages equity funds at Seabreeze Partners and is a former housing analyst at Kidder Peabody & Co., says he is "slightly short" U.S. stocks. Kass talks with Bloomberg's Ken Prewitt and Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."