Kass: Volatility Distracting Investors from Positives

Columnist and money manager Doug Kass tells CNBC that the recent market turbulence is distracting investors from good news about the U.S. economy, and that high-frequency trading has “so screwed up the market that you can throw out all technicals”. Kass says that while there are fundamental headwinds, the market is offering a strong 8% earnings yield — far above Treasury yields — a good sign. He expects the S&P 500 to trade within a range of about 1080 to 1180 through the summer.

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