Doug Kass: 15 Surprises for 2013-Stocks Get Crushed After New Tax on Financial Transactions Becomes Law

January 9, 2013 - 10:35am

By DougKassSurprise No. 4: A tax on securities transactions is instituted in exchange for an increase in Medicare eligibility -- its implementation has broadly negative ramifications for financial stocks and hedge funds.It’s Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREEFinancial stocks underperform and miss profit forecasts.The transaction tax forces a further consolidation in the hedge fund industry.Hedge fund fees decline."Speculators may do no harm as bubbles on a steady stream of enterprise. But the situation is serious when enterprise becomes the bubble on a whirlpool of speculation."-- John Maynard Keynes (when he first proposed a securities transaction tax in 1936)

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