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Actionable news in AAPL: Apple Inc.,

Apple, Netflix and Bank of America: Doug Kass' Views By Doug Kass | Oct 19, 2015 | 01:00 AM EDT

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Why Am I Shorting Apple? Check Out These Charts

I continue to get a lot of pushback from my Apple (AAPL - Get Report) short.

Though my position has a longer timeframe, here is the underperformance of the stock over the last month: the last three months; and the last six months.

Apple is on my Best Ideas List (short).

Position: Short AAPL

Shorting More Apple

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Bank of America (BAC - Get Report) released third-quarter earnings this morning that market watchers widely heralded as an impressive beat and one of the best "relative" profit reports so far for money-center banks.

My take: I'm still upbeat about BAC's long-term outlook, but I believe today's optimistic observations aren't entirely accurate. Frankly, the bank's quality of earnings disappointed me a bit.

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Yes, the report was a beat -- but a number of nonrecurring factors contributed to BAC's headline gain. Comparing apples to apples, results came in slightly under Wall Street expectations.

Must Read: Deutsche Bank To Split in Two, Announces Management Shakeup

Note that the reported $0.37 earnings per share included:

  • A securities gain ($0.02 per share)
  • DVA gain (another $0.02 per share)
  • A $0.03-per-share gain on the sale of consumer loans
  • An MSR profit of $0.01 per share
  • A lower effective tax rate ($0.02 per share)
  • A loss on a U.K. insurance provision ($0.02 a...

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