Archive

July. 2019

Investing in distressed bonds and Stansberry's Credit Opportunities newsletter; Stock Idea of the Day: Deutsche Bank; Sitting-Rising exercise

Empire Financial Daily,
Tuesday, July 16, 2019
1) In my e-mail last Thursday about the Stansberry’s Credit Opportunities newsletter, one of my readers, Nicholas C., e-mailed me an excellent question: I watched the video for the credit newsletter and the marketing gives me pause. I know you have your qualms with the promotional language employed by this firm, so I am not […]

The Southeast Asia Opportunity; The rise and fall of fund manager Neil Woodford; OxyContin Made the Sacklers Rich. Now It's Tearing Them Apart; How information is like snacks, money, and drugs – to your brain

Empire Financial Daily,
Monday, July 15, 2019
1) At the 16th Annual Value Investing Seminar in Italy last week, Florian Weidinger of Hansabay, an investment fund based in Singapore, gave a presentation on The Southeast Asia Opportunity, which you can read here. By southeast Asia, he means the countries highlighted here: These countries have a total population of 641 million and collectively […]

Italy seminar; Japan opportunities; Reader feedback on why female fund managers outperform and the impact of Chinese tariffs; Real Hedge-Fund Managers Have Some Thoughts on What Epstein Was Actually Doing

Empire Financial Daily,
Friday, July 12, 2019
1) We just wrapped up the 16th Annual Value Investing Seminar in Italy. After thunderstorms and hail on Wednesday, the sunny weather typical of southern Italy returned for the last two days, giving my co-host Ciccio Azzollini and me a beautiful view of the Trani harbor at dinner last night… 2) At the seminar, a […]

Advice to a reader who's heavily invested in tech; Stansberry's Credit Opportunities; Lower rates?; Obvious pump-and-dump exposed at Predictive Technology; Snowball the dancing parrot stuns scientists

Empire Financial Daily,
Thursday, July 11, 2019
1) One of my readers sent me a good question, so I wanted to reply publicly: I met you a couple of months ago at the Value Investing Panel at Creighton University in Omaha. I wanted to ask you this question in person but you were in a rush to attend a different meeting and […]

How Costco gained a cult following – by breaking every rule of retail; How Sears Lost the American Shopper; John Oliver on Amazon's warehouses; A violent hailstorm in Italy and a wonderful time in Paris

Empire Financial Daily,
Wednesday, July 10, 2019
1) Nobody is a bigger fan of Costco Wholesale (COST) than I am… other than perhaps Charlie Munger, who’s on the warehouse club’s board of directors. Costco is an incredibly admirable company in every way, which is well-captured by this article: How Costco gained a cult following – by breaking every rule of retail. Excerpt: […]

Bill Ackman Is Having His Best Year Ever; Another day, another troll; Reader feedback on discussing politics civilly and on Tesla; Stansberry Conference

Empire Financial Daily,
Tuesday, July 9, 2019
1) In my March 22 e-mail, I wrote about my college buddy Bill Ackman and how undervalued his publicly traded vehicle, Pershing Square (PSHZF), is. Now Barron’s has picked up the story: Bill Ackman Is Having His Best Year Ever. So Why Are Investors Ignoring His Fund? Excerpt: At age 53, the activist investor Bill […]

My presentation on Words of Caution from a Veteran Investor; Reader feedback on free speech on the big social media platforms; My Euro trip is off to a great start

Empire Financial Daily,
Monday, July 8, 2019
1) I recently gave a 30-slide presentation, Words of Caution from a Veteran Investor, at the Benzinga Trading Summit. You can watch it here and see the slides here. In the room were a lot of young investors who, I suspect, are doing the same stupid stuff I was doing when I first got into […]

Reply to a troll; Taking responsibility for your own investment decisions; My thoughts (and Chris Brown's) on TSLA; I'm on a flight to Europe for a two-week trip

Empire Financial Daily,
Friday, July 5, 2019
1) On Wednesday I received this e-mail from a random guy who identified himself as Paul K.: Whitney, way to go. Your Sky-is-falling warning scared me out of TSLA for a $60+ left on the table. Way to go, Einstein, you’re a frikin genius. Good thing I didn’t pay good money for any of your […]

The Deadliest Mistake a Company Can Make to Destroy Shareholder Value; Record number of deals; Megadeals panned; Alphabet vs. Apple capital allocation; Tim Cook slams WSJ article; Charity Poker Tournament in NYC on July 24

Empire Financial Daily,
Wednesday, July 3, 2019
1) Monday’s e-mail was part one of my discussion about how companies can create or destroy value via capital allocation decisions. Here’s part two, in which I discussed acquisitions: The Deadliest Mistake a Company Can Make to Destroy Shareholder Value. Excerpt: The seventh and final choice companies can make with excess cash is to make […]

My Customers Don't Pay Trump's Tariffs; My discussion with Porter Stansberry about free speech on big social media platforms; My daughter and I are going to the Women's World Cup

Empire Financial Daily,
Tuesday, July 2, 2019
1) I read an interesting op-ed in yesterday’s Wall Street Journal that highlights why Trump’s 25% tariffs on many Chinese goods might not affect U.S. companies as much as some are predicting. I think this will prove to be the case with one of my favorite stocks, Lumber Liquidators (LL). My Customers Don’t Pay Trump’s […]

What to Do With All That Cash; The Charmed Life of a Young Tiger Cub With a $4.6 Billion Fortune; Asset managers who grow up poor tend to outperform those who grow up rich; Matt Levine and Barry Ritholtz; Mark Spiegel's monthly letter on Tesla

Empire Financial Daily,
Monday, July 1, 2019
1) When analyzing a company and estimating its intrinsic value to determine whether its stock is undervalued, most investors focus on the free cash flows it will generate in the future. This is, indeed, critical information to determining what it’s worth. But often overlooked is the other half of this equation: what a company does […]
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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