Clean the Slate for the New Year: Best of Kass

In highlights from this week’s trading diary and posts, Kass tells us about how he’s cleaning the slate for the year’s end. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.

From the Archives

Although outside groups can exercise some oversight, the unsettling truth is that, to a considerable degree, the watchers must be able to watch themselves.” Nick Gillespie “Out of Sight, Out of Hand?” “Americans have always had mixed feelings about psychoactive substances.

The Dow’s Worst Day in 2016

Yet the year was also chock-full of major events, and many of them roiled the financial markets from time to time. In terms of the largest fall between market closes on consecutive days, the Dow’s worst day of the year came on June 24, when the Brexit decision for the U.K. to leave the European Union sent the average down 610 points.

ECB’s Monte Paschi Capital Bar Would Trip Up 10 Other EU Banks

Deutsche Bank AG, UniCredit SpA and eight other European Union banks would fall short of the European Central Bank’s capital demands on Banca Monte dei Paschi di Siena SpA based on stress-test results, highlighting potential objections to the plan. The ECB told Monte Paschi it needed enough capital to push its common equity Tier 1 ratio to 8 percent of risk-weighted assets in the adverse scenario of the stress test, the Bank of Italy said in a statement late on Dec. 29. That’s well above the legal minimum of 4.5 percent.

The dirty secret about your clothes

A woman hangs dyed yarn to dry at a textile mill on the outskirts of Agartala, capital of India’s northeastern state of Tripura. In the Colours of Nature dye house, Vijayakumar Varathan is busy prepping a vat of indigo.

This Week in Solar

As the year comes to a close, it’s fitting that the week in solar was dominated by the kind of large, macro trends that seem to move and shake the solar industry every few months. But unlike 2015, when we had Nevada upend net metering in the final hours of the year, most of the news from the solar industry is positive at the end of 2016.

5 Things Micron’s Management Wants You to Know

The company’s first-quarter results beat expectations, and its guidance for the second quarter foretells a return to exceptional profitability. While Micron’s first-quarter numbers give investors a good idea of where the company stands, management provided additional information during the earnings conference call.

Maryland bank VP stole from elderly, deceased customers, prosecutors say

The former vice president of a Maryland bank was charged with embezzlement and wire fraud Friday after allegedly stealing more than $1.8 million from customers over six years, prosecutors said. From 2010 to mid-2016, 54-year-old Melissa Strohman of Nottingham, Md., was senior vice president at the now-defunct Hopkins Federal Savings Bank with branches in PikesA ville and Highlandtown, court documents said.

Family friendly

“I really enjoyed the time with the kids”, she explains, “It gives you a special connection when you have time with your small babies. But after that I really needed to get out again and be around adults and do real things, not just baby stuff.”

Why ImmunoGen, Inc. Shares Rocketed Higher by 29%

Unfortunately, the reason for ImmunoGen’s surge higher remains a bit of a mystery. The closest thing to tangible news for ImmunoGen that would have the potential to move the company’s stock was a press release this past Wednesday, Dec. 28. The press release was a needed feather in the cap for lead drug candidate mirvetuximab soravtansine .

Where Will HCP, Inc. Be in 10 Years?

The year started off quite turbulent, with dismal results from the company’s HCR ManorCare properties leading to a surprise loss, but recovered nicely as the company decided to spin off those and other troubled assets. What could be in store for HCP investors in the coming decade? Unfortunately, we don’t have a crystal ball that can predict investment performance.

ETF Performance Report: Best & Worst of 2016

After a remarkable surge since Donald Trump’s presidential election win that has helped the markets extend into the 9th year of its bull rally, U.S. equities and stock exchange traded funds are ending 2016 with a whimper. The Dow Jones Industrial Average gained 13.4% year-to-date.

Delivery drivers vote to strike Minnesota auto parts company

Delivery drivers from Teamsters Local 120 voted unanimously to strike O’Reilly Auto Parts in Minnesota unless the company agrees to a renewed labor contract that increases pay and safety standards. O’Reilly spokesman Mark Mertz says the union has misrepresented the position that the company has taken through the course of negotiations regarding pay and safety issues.