Every now and then Doug Kass, of Seabreeze Partners and The Street.com, and more famously known through his frequent appearances on CNBC’s Fast Money, will refer to his legendary ‘gnome’ sending him some kind of message. He’ll tweet something like, “My gnome is hearing now…” or “My gnome is telling me…”.
So, who exactly is this gnome. Is it just Doug Kass’s gut feeling and the gnome is nothing more than a representation of that? Or is it a real Smurf like gnome, perhaps more greenish than blue, though, and maybe a bit taller? Or, is his gnome a real person, someone who has his pulse on the market at a big bank or hedge fund? Someone who reads the tea leaves and passes those thoughts upon to Doug Kass.
Possible candidates for Doug Kass’s gnome:
The long lost Najarian brother, Jack
Warren Buffett’s Rubber Ducky
Doug Kass’s dog
Derek Jeter (Why not)
Ben Bernanke’s talking beard
The garden gnome from Amelie
I wonder if this gnome is the one that puts that gun to Doug Kass’s head every now and again. When Kass will say, “Gun to my head, this is the bottom”. Gnome’s are usually nice though, right? And they don’t carry weapons…and certainly not loaded guns.
Whoever the gnome is, it’s been very useful to Doug Kass, and I’m sure a lot of hedge funds wish that had one. I wonder if Doug Kass would rent it out or say let John Paulson borrow it right now? Paulson’s hedge fund is down nearly 40%, you know.
Kass of course said the market had made its lows for the year in July of last year, 2010, and this turned out to be true. And then when the stock market hit 676 on March 9, 2009, Kass appeared on CNBC and called this the bottom. So, Kass or this gnome must have some kind of crystal ball.
What do you think? Any ideas on who this gnome is?