Doug Kass Buying Water ETFs

Doug Kass tweeted that he is buying three exchange traded funds (ETFs) to benefit from the coming water shortage that he talked about last night on CNBC's Fast Money. Kass mentioned in his tweet that he was buying PowerShares Global Water Portfolio ETF PIO, PowerShares Water Resources ETF PHO and Claymore S&P Global Water Index ETF CGW. Kass is the president of Seabreeze Partners, and is known to be bearish in his outlook on the markets.