Thursday, March 23, 2023

Big secret to wealth generation; An update on my 'Dirty Dozen' one year later; Removing GME from my list; Update on BBBY, META, and tech giants; Amazing Invention – This Drone Will Change Everything

By Whitney Tilson

1) Is a 58% annual return really possible? A 25-year study from Cambridge Associates recently concluded that one asset class outperformed portfolios made up of stocks and bonds by a very wide margin... The secret? Be sure to tune in on Tuesday, March 28 at 1 p.m. Eastern time to find out. I'll introduce you […]

Wednesday, March 22, 2023

Upcoming event on Tuesday; What Is Bill Ackman Up To?; The rarity among billionaires of being willing to listen to disagreements and change your mind; Bill introduced me to my wife

By Whitney Tilson

1) In just a few days – on Tuesday, March 28 at 1 p.m. Eastern time – I'll introduce you to a man I've never spoken about before... He's bringing an exciting (and potentially very profitable) financial secret to the table – it's something you won't want to miss. Just go to for more […]

Tuesday, March 21, 2023

The Fed should pause tomorrow; Tesla tracking for a major first-quarter miss?; Antisemitic tweets soared on Twitter; Inside Elon Musk's cost-cutting drive at Twitter; Finding a Buyer for TikTok May Not Be So Easy; Instagram catching up with TikTok; John Oliver on timeshares

By Whitney Tilson

1) I think Bill Ackman is 100% correct in this tweet in which he lays out the case for the Fed to, in a "temporary pause," not raise rates tomorrow: 2) Tesla (TSLA) CEO Elon Musk responded to Ackman with this tweet: A friend's (likely spot-on) take: "Hey, now we know Tesla's Q1 results are […]

Monday, March 20, 2023

Warren Buffett in Contact With Biden Team on Banking Crisis; Bankers flying to Omaha; Venture Catastrophists; What Gets Lost When You Rescue Markets; Forbes Fails

By Whitney Tilson

1) It's not surprising that the government is reaching out to Warren Buffett: Warren Buffett in Contact With Biden Team on Banking Crisis. Excerpt: Berkshire Hathaway's Warren Buffett has been in touch with senior officials in President Joe Biden's administration in recent days as the regional banking crisis unfolds. There have been multiple conversations between […]

Friday, March 17, 2023

There is no banking crisis; First Republic stock; I disagree with Bill Ackman; Krugman: Three and a Half Myths About the Bank Bailouts; America Needs Its Small Banks; What's REALLY happening in Ukraine

By Whitney Tilson

1) The banking "crisis" continues to dominate the headlines... I use quotes around the word crisis because the contagion that's happening here is one of the most irrational things I've ever seen in the markets. THERE IS NO CRISIS! In total contrast to 2008, our banking system is strong, healthy, and well capitalized. A tiny […]

Thursday, March 16, 2023

Doug Kass: Consider This Form Factor: The Biggest Will Be the Winningest; U.S. Threatens Ban if TikTok's Chinese Owners Don't Sell Stakes; TikTok Is a Venue for Child Sexual Exploitation; There Were a Few Savvy Investors Who Saw Silicon Valley Bank's Collapse Coming; SVB chart; Kyiv was surprisingly normal

By Whitney Tilson

1) I think my friend Doug Kass of Seabreeze Partners is right that the largest tech companies and banks will be the biggest beneficiaries of the recent turmoil in the markets. In yesterday's missive, he wrote: Consider This Form Factor: The Biggest Will Be the Winningest Mine is a simple investment strategy that may fit […]

Wednesday, March 15, 2023

Why I think the Ukrainian tiger is about to devour the Russian bear – and the implications for stocks

By Whitney Tilson

The primary reason I've been to Ukraine twice in the past month is for humanitarian reasons. To alleviate the suffering that Russia's unprovoked, horrific attack has caused, I (with the generous support of hundreds of family members, friends, and readers) have purchased and delivered: 11 ambulances, with 15 more ordered and paid for (total cost: […]

Tuesday, March 14, 2023

First Republic; Mike Burry on the banking crisis; This Department-Store Stock Has Trounced Apple, Amazon, and Tesla; I visited the Babi Yar Holocaust Memorial

By Whitney Tilson

1) In yesterday's e-mail, after discussing the banking crisis, I concluded that "the entire banking sector is taking a hit... so I think it's time to start looking for babies thrown out with the bathwater," and mentioned Wells Fargo (WFC) and First Republic Bank (FRC), writing: A higher-risk, higher-reward idea I'm exploring is First Republic, […]

Monday, March 13, 2023

I'm back from a week in Ukraine; Bank runs; Wells Fargo and First Republic look interesting; Big takeaways from my trip; Zoom call on Wednesday

By Whitney Tilson

1) I just got back from a week traveling 1,600 miles all over Ukraine (more on this below and in future e-mails). Did I miss anything? I'm kidding, of course... Unlike when, for example, I was in Antarctica or hiking in the Sierra Nevada mountains in California, I had excellent Internet coverage – both on […]

Friday, March 10, 2023

This janitor in Vermont amassed an $8M fortune without anyone around him knowing; How to cultivate mentors, make friends, build deep, lasting relationships, and persuade someone to hire you: the initial follow-up

By Whitney Tilson

1) I recently came across an article, This janitor in Vermont amassed an $8M fortune without anyone around him knowing, about how when Ronald Read, a retired gas station attendant and janitor in Vermont, died in 2015, his friends and family were shocked to learn that his estate was worth $8 million! Did Read win […]

Thursday, March 9, 2023

Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts; Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities; Crypto Bank Silvergate Capital Says It Will Shut Down; How to cultivate mentors, make friends, build deep, lasting relationships, and persuade someone to hire you: an effective initial contact

By Whitney Tilson

1) Here's a good piece of investigative journalism by the Wall Street Journal... I'm shocked – shocked, I tell ya! – by this... (NOT!) Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts. Excerpt: In late 2018, the companies behind the most widely traded cryptocurrency were struggling to maintain their […]

Wednesday, March 8, 2023

How to cultivate mentors, make friends, build deep, lasting relationships, and persuade someone to hire you; 'Whitney is a total egomaniac' and 'I wonder if he is autistic or has Asperger's'

By Whitney Tilson

1) Picking up where I left off in yesterday's e-mail about how to get a job in money management, I want to share how to actually gain the attention of a senior person who has the power to offer you a job, rather than the traditional – and likely unfruitful – approach of going through […]

Tuesday, March 7, 2023

Breaking Into Money Management (Part 2); You meet the nicest people picking up trash

By Whitney Tilson

1) In yesterday's e-mail, I addressed the question I often get from young readers: I recently graduated college and would someday like to manage money. I would like to now, but no one will trust some 22-year-old kid, understandably. Could you offer me some advice on this and what you have learned since you began […]

Friday, March 3, 2023

'1,000% Windfall' investigation coming offline; A study of global outperformers; Warren Buffett owns a little-known stock portfolio worth nearly $6 billion; After Testing Four-Day Week, Companies Say They Don't Want to Stop; Invitation to three events March 13 to March 15; Four new slides in my Ukraine slide deck

By Whitney Tilson

1) You don't have much longer to watch our full investigation into what I've been calling the "1,000% Windfall"... Just recently, I traveled to Sabine Pass, Texas – the potential epicenter of a major shift in the world economy. What I saw there was something very few Americans have ever seen up close and in […]

Thursday, March 2, 2023

David Einhorn's CNBC interview; Rivian hits all-time low; Musk Was Right About Tesla Rivals Losing Billions; Rescuing a skier stuck in a tree well

By Whitney Tilson

1) My friend David Einhorn of Greenlight Capital was a guest on CNBC yesterday for 27 minutes. CNBC Pro subscribers can watch the entire interview here and access these two articles: David Einhorn on his winning short 'bubble basket' strategy that he's continuing  Investor David Einhorn, whose hedge fund was up nearly 37% last year, […]

Wednesday, March 1, 2023

Updated estimate of Berkshire Hathaway's intrinsic value; 25 cool charts on great growth stocks; My first TV interview about Ukraine: U.S. Humanitarian Reflects on Year of War in Ukraine

By Whitney Tilson

1) In Monday's and yesterday's e-mails, I analyzed the annual letter from Berkshire Hathaway (BRK-B) CEO Warren Buffett and the company's fourth-quarter earnings. Today, I'd like to update my estimate of Berkshire's intrinsic value using the methodology that I've used – and that I think Buffett himself uses – to value Berkshire for more than […]