Doug Kass responds to the earlier post from FMX Connect.
Who Is Goldfinger (Part Deux)?
- A guest post on Zero Hedge balks at my opening missive from yesterday.
This guest post just placed on Zero Hedge is funny, egomaniacal, self-absorbed and totally inaccurate.
It is a response to "Who Is Goldfinger?" (yesterday's opening missive).
First, FMX | Connect seems to agree with my conclusion: "For our own part, we are pretty sure it is a single buyer. How did we come to this conclusion? We did the math. We studied and saw the orders as they hit the markets."
FMX | Connect claims that "his [yours truly's] work seems loosely and sloppily based on our own." In other words, they claim I plagiarized (whatever) they have written regarding one buyer's accumulation of a large gold call option position.
Here is more:
Moreover, until today, no one else has said anything about these purchases accept [sic] us. We just find it hard to believe that the kernel for his article was somewhere in his head.
While no one has a monopoly on ideas, those that "think" of them second usually cite the inspiration or source for the (in this case) sloppy, sensational analysis. Even more grating, his inaccurate work made its way onto Art Cashin's Daily report. We are huge fans of Mr. Cashin here, and would like to say this up front to him: If you are looking for Commodity Options data, analytics, research, or color, come to us. We are best-of-breed in the category.
For the record, I am a great admirer of Zero Hedge. "Tyler Durden" is iconic, analytical and not bashful about giving his view, even when it is against the grain (and it usually is). I like that, and I have attempted to accomplish the same in my writings. And I am hopeful that Zero Hedge posts this response.
For the record, I don't know nor have I ever have heard of FMX | Connect.
I have never viewed the firm's website. (I don't even know if it has a site!)
FMX | Connect ends its guest post in the following manner:
"We state this because it is our intellectual capital that is our franchise. So when a person or firm uses it incorrectly and without citation, we must defend ourselves."
For the record, my contacts on the story were multiple. They are in the trading community and had nothing to do with FMX | Connect. (I don't even know if the firm has discussed the accumulation.)
Douglas A. Kass
Seabreeze Partners Management Inc.