Whitney Tilson's Daily Newsletters

August. 2020

Berkshire Hathaway's second-quarter earnings; It Feels Like Deja Vu All Over Again; It May Be Time for Bank Stocks to Trade Higher; The lowest-ever U.S. junk bond yield; Your Worst 1%

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, August 12, 2020
1) My longtime friend and former partner, Glenn Tongue, is the ax on Berkshire Hathaway (BRK-B). So, as I do every quarter, I asked if he’d share his thoughts on the company’s recent earnings report (here are links to the press release and 10-Q). Here’s what Glenn sent me: Berkshire Hathaway reported Q2 2020 earnings […]

Excerpt from my other upcoming book: Calamity No 1: Loss of Reputation

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, August 11, 2020
In yesterday’s e-mail, I included an excerpt from my upcoming book, The Rise and Fall of Kase Capital. Believe it or not, I’m also putting the finishing touches on a second book that I hope to publish by the end of the year: The Art of Playing Defense: How to Get Ahead By Not Falling […]

Excerpt from my upcoming book: How to Avoid Getting 'Faked Out' By a Company's Management

By Whitney Tilson

Whitney Tilson's Daily,
Monday, August 10, 2020
I’m almost finished with my new book, The Rise and Fall of Kase Capital, which I hope will be out by the end of the year. Here’s the current draft cover: I’ll be sharing excerpts from the book in my daily e-mails. Below is the first. Enjoy! How to Avoid Getting ‘Faked Out’ By a […]

Prosecutors suspect Wirecard was looted before collapse; White House Seeks Crackdown on U.S.-Listed Chinese Firms; Henry Blodget Built a Financial Media Empire; Ben & Jerry's Radical Ice Cream Dreams; My engagement story

By Whitney Tilson

Whitney Tilson's Daily,
Friday, August 7, 2020
1) The story at German payments processor Wirecard (WDI.DE) keeps getting crazier… Here’s the latest news from the Financial Times, the lone media organization that did good work over the years to expose the fraud (which I warned my readers about many times, starting on March 20, 2019): Prosecutors suspect Wirecard was looted before collapse. […]

A special place in hell for Purdue Pharma and Mallinckrodt; Lights Out: Pride, Delusion, and the Fall of General Electric; The world's best-performing large-cap stock; Global Entry open to New Yorkers again

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, August 6, 2020
1) You know, I really shouldn’t be so hard on Eastman Kodak (KODK)… Whatever the company’s sins (which my colleague Berna Barshay covered in her always-outstanding Empire Financial Daily yesterday), they pale in comparison to those of companies like drug makers Purdue Pharma and Mallinckrodt (MNK), for which there is a special place in hell. […]

Klarman/Baupost second-quarter letter; Coronavirus update; We may be in the 8th inning; Economic recovery may be stalling; SEC investigating Kodak

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, August 5, 2020
1) Seth Klarman has compiled one of the best track records of all time over the past three decades as the founder and CEO of hedge fund Baupost Group. In addition to being a great investor (and philanthropist), he’s a brilliant writer and teacher, which is why his timeless 1991 classic, Margin of Safety: Risk-Averse […]

China Grapples With Epic Property Boom; A Bubble That Just Won't Burst; China's Red-Hot IPOs; Fraud, Fraud, Fraud; How Chinese Officials Hijacked My Company

Whitney Tilson's Daily,
Tuesday, August 4, 2020
Other than shorting a few obvious frauds when I was running a hedge fund (I wish I’d shorted more!), I’ve never invested in China. It’s the Wild West of capitalism, and I know too many people who’ve been defrauded there (see articles below for more on this), so it remains in my “too hard” basket. […]

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 […]
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.

Click here for the full bio.