Doug Kass: We are ready for a serious correction

The big investor Doug Kass, expressed his opinion on the market, in a unique way.
"At the risk of sounding stupid (and mistaken), I do not like the market and its movement," said Kass in a statement.
A serious imbalance in closing markets last week, coupled with a forthcoming holiday and early month, triggered a late recovery of US indices and new records, Kass commented.
In case of serious instability of the FANG group companies, I position myself aggressively for a market correction - something that few investors and experts even think possible.
Last week, Kass raised serious questions about the letters "A" and "N" in the so-called FANG group. That is to the shares of Amazon and Netflix. The first reached new historical records at levels already above $1,000 at the beginning of the new week.
Surviving the previous technological boom and shortening technology companies during the "Internet bubble," in the late 1990s, Cass definitely believed he had "watched this movie before".
Analyzing the current situation causes Kass to believe that all investors, with the exception of "older fools," may be misled by the current trend of forming a "speculative bubble."
Kass believes that companies such as Facebook and Alphabet, given their prospects of good future growth, can not be considered expensive, although they would be limited to buying them at their current levels.
The expert predicts a 30% increase in profits before taxes and fees over the next few years. For Google, the forecast is for a 15% growth per year. What is more important, according to Kass, is that both companies generate stable cash inflows.
With regard to Amazon and Netflix, however, ratings are quite another. Kass said he would have avoided both companies.