Wednesday, August 4, 2021

The Update Issue: Employers Choose a New Office Reopening Strategy, Shortages, Inflation, COVID Winners and Recovery Losers

By Berna Barshay

Broadway is about a month away from its reopening and revealed last week that entering the theater will require a COVID-19 vaccination... To the great relief of the folks at Disney's (DIS) Broadway division and the producers of the Wizard of Oz-themed musical Wicked, vaccine-ineligible children under 12 can present a recent negative COVID-19 test […]
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Self-assessment/personality tests; My high need for new stimulation; How I keep abreast of my work; Readers on my noninvesting writings

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, August 4, 2021
1) Regular readers have probably noticed that I'm almost constantly on the go, climbing, trekking, skiing, running, etc., preferably in new parts of the country or the world. Over the years, I've come to understand that this is just the way I'm wired. Specifically, I have an off-the-charts need for new stimulation, which has a […]

Are Cryptocurrencies a Systemic Risk to the Global Financial Markets?

By Berna Barshay

Empire Financial Daily,
Tuesday, August 3, 2021
Yesterday, an article in the Economist asked the provocative question: 'What if bitcoin went to zero?' The self-described "thought experiment" delved into the links between the traditional world of mainstream finance and the rapidly emerging world of cryptocurrencies at the center of the "decentralized finance" movement. The eye-grabbing headline was paired with the equally dramatic […]

Returns of stocks trading at more than 15x revenues; The Power of the Fed; Two e-mails on getting vaccinated; Hiking in Yosemite Valley

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, August 3, 2021
1) I remember long ago – perhaps a decade – analyzing future stock returns of companies with at least a $10 billion market cap that traded at more than 10 times revenues... not earnings or earnings before interest, taxes, depreciation, and amortization ("EBITDA"). At that time, in the previous few decades (the limit of the […]

The New Robinhood: Rob From the Poor to Give to the Rich

By Berna Barshay

Empire Financial Daily,
Monday, August 2, 2021
The poster child for the surge in retail trading over the past year finally went public last week... No stranger to controversy after its part in the great GameStop (GME) short squeeze of January and starring role in the frenetic pandemic retail trading of dodgy securities like Kodak (KODK), trading app Robinhood's (HOOD) initial public […]

I finished my 54-mile trek; Hard Money's Million Dollar Podcast; The We That Didn't Work at WeWork; Ackman and Hilal on success, failure, and character

By Whitney Tilson

Whitney Tilson's Daily,
Monday, August 2, 2021
1) My guide and I did an epic, arduous, and magnificently beautiful 54-mile trek, including 20 miles on the famed John Muir Trail in California's Sierra Nevada mountains on Thursday, Friday, and Saturday. (I posted pictures on Facebook here.) I can't remember the last time I was off the grid for 48 hours. It felt […]
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Whitney Tilson
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About Whitney Tilson

Prior to creating Empire Financial Research, Whitney Tilson founded and ran Kase Capital Management, which managed three value-oriented hedge funds and two mutual funds. Starting out of his bedroom with only $1 million, Tilson grew assets under management to more than $200 million.

Tilson graduated magna cum laude from Harvard College with a bachelor’s degree in government in 1989. After college, he helped Wendy Kopp launch Teach for America and then spent two years as a consultant at the Boston Consulting Group. He earned his MBA from Harvard Business School in 1994, where he graduated in the top 5% of his class and was named a Baker Scholar.

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