Doug Kass is "getting that summer of 1987 feeling," telling CNBC he's raising cash ahead of a...

|By:, SA News Editor

Doug Kass is "getting that summer of 1987 feeling," telling CNBC he's raising cash ahead of a likely 80 or 90-point trimming in the S&P. "The secular challenges are unprecedented. We are in a period of slower growth. Ultimately, fundamentals rule stock prices," Kass warns, also expecting the U.S. economic recovery will prove weaker than expected.