Monday, August 3, 2020

The Breakout Star of the Pandemic Is Under Fire

By Berna Barshay

How did tweens doing dance videos become a national security threat? On Friday, President Donald Trump told reporters on Air Force One that he was planning to ban the wildly popular short-form video app TikTok from the U.S. as early as the next day. Yet the app is still running… and D.C.-focused news site The […]
Recent Newsletters

SEC's pathetic agreement with Bausch (formerly Valeant); Insys documentary; Opioids, Bribery, and Wall Street; Novartis bribery settlement; Kodak; My podcast interview

By Whitney Tilson

Whitney Tilson's Daily,
Monday, August 3, 2020
1) On Friday, the U.S. Securities and Exchange Commission (“SEC”) announced a totally pathetic agreement with Bausch Health (BHC), formerly Valeant Pharmaceuticals, and three of its former top executives: CEO Michael Pearson, CFO Howard Schiller, and controller Tanya R. Carro. In light of the massive, well-orchestrated, multiyear fraud that took place here – resulting in […]

The Update Issue: L Brands and AT&T

By Whitney Tilson

Empire Financial Daily,
Friday, July 31, 2020
I’ll start off with a note about the format of today’s issue… It’s been slightly more than three months since I started writing Empire Financial Daily. It’s been a lot of fun diving into topics from the isolation economy to “quarandating” and collateralized loan obligations. Nothing is ever static in the markets. That’s especially true […]

Everyone's a Day Trader Now; Hedge Fund Activists Might Just Be Good Stock Pickers; Is Hedge Fund Secrecy a Sign of Skill – Or a Red Flag?; FBI concerned over laundering risks in private equity, hedge funds; U.S. Treasuries: the lessons from March's market meltdown; Herman Cain

By Whitney Tilson

Whitney Tilson's Daily,
Friday, July 31, 2020
1) I’ve seen this before and I know how it ends – badly. Don’t fall into this seductive trap! Everyone’s a Day Trader Now. Excerpt: Stuck at home in lockdown, millions of Americans are trading the markets like never before. At E-Trade Financial Corp. (ETFC) investors opened roughly 260,500 retail accounts just in March, more […]

Checking Madison Avenue's Pulse

By Berna Barshay

Empire Financial Daily,
Thursday, July 30, 2020
► Earnings results at three of the big advertising conglomerates were bad, but not as bad as feared a few months ago… We’ve heard from three of the biggest names in advertising, Omnicom (OMC), Interpublic Group of Companies (IPG), and France’s Publicis (PUBGY). While results met or even exceeded Wall Street’s expectations for all three, […]

Aphria covering up its fraud; Large companies outperforming small ones; Empty Amtrak trains; Few Manhattan Office Workers Have Returned; The Virus Turns Midtown Into a Ghost Town; New York City Reopening Splits Along Lines of Wealth and Race

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, July 30, 2020
1) Shares of Canadian cannabis company Aphria (APHA) tumbled 19% yesterday after the company reported a quarterly loss of C$98.8 million. Longtime readers may recall that my friend Gabriel Grego of Quintessential Capital exposed massive fraud at the company in an epic presentation at my shorting conference on December 3, 2018, which I covered in […]
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 nearly $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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