Whitney Tilson's Daily Newsletters

September. 2020

Your last chance to watch our big event; Zoom Is Not the Next Amazon; The Gambler Who Cracked the Horse-Racing Code; How the Sacklers Shifted $10.8 Billion of Their Opioid Fortune; The Billionaire Who Wanted to Die Broke... Is Now Officially Broke

By Whitney Tilson

Whitney Tilson's Daily,
Friday, September 25, 2020
1) On Wednesday, I hosted a special event with my colleagues Enrique Abeyta and Berna Barshay. For the first time, I shared on camera my big prediction for the outcome of November’s upcoming election and what effect it could have on the stock market. We discussed which sectors will break out (or break down)… and […]

Last night's event; Stan Druckenmiller Recounts His $3 Billion 'Lesson' From The Tech Bubble; Big Tech's Big Problem; The Social Dilemma; SEC Gives More Investors Access to Private Equity, Hedge Funds; I've applied for the next Eco-Challenge

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, September 24, 2020
1) Did you miss last night’s big event? Along with my colleagues Enrique Abeyta and Berna Barshay, I hosted a special webinar to discuss the upcoming November election and its potential effect on the markets. I made a big prediction for the outcome… and put together a brand-new model portfolio of eight world-class businesses that […]

Webinar tonight!; The latest on Nikola; Big Ideas 2020; Small businesses are unable to pay rent; Rothmans clothing store

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, September 23, 2020
1) A final reminder… Tonight at 8 p.m. Eastern time, Enrique Abeyta, Berna Barshay, and I are hosting a free webinar in which we’ll discuss the election (which is only 41 days away!) and its likely effect on the stock market. We will be making some bold predictions and sharing one of our favorite stocks […]

Webinar tomorrow night; Nikola memes; NNOX; Global banks process trillions in dirty money; New Yorkers Are Fleeing to the Suburbs

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, September 22, 2020
1) As I mentioned in yesterday’s e-mail, I’m hosting a webinar tomorrow evening at 8 p.m. Eastern time with my colleagues Enrique Abeyta and Berna Barshay to discuss the coming November election and its likely effect on the stock market. Trust me, you won’t want to miss it. We only do events like this when […]

Enrique, Berna, and I are hosting an event on the upcoming election and its implications for investors; Nikola Founder Trevor Milton Resigns; Has the bubble burst?; NYU's 'Dean of Valuation' Aswath Damodaran on Apple and Tesla surge; SEC Gives More Investors Access to Private Equity, Hedge Funds; Bill Gates Sr. obituary

By Whitney Tilson

Whitney Tilson's Daily,
Monday, September 21, 2020
1) You won’t want to miss a special Empire Financial Research event this Wednesday, September 23 at 8 p.m. Eastern time… I’ll be joining my colleagues Enrique Abeyta and Berna Barshay to discuss the coming November election and its likely effect on the stock market. We’ll share our predictions for how the election will turn […]

Tails, You Win; Essential Wisdom From America's Best-Performing Stocks; Let Your Winners Run; My Netflix story; When the Stock Market Doesn't Need the Economy

By Whitney Tilson

Whitney Tilson's Daily,
Friday, September 18, 2020
1) I just finished listening to the new book by blogger and venture capitalist Morgan Housel, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness (I shared Wall Street Journal columnist Jason Zweig’s review of the book in my August 17 e-mail). I found it fascinating… especially the chapter about tail events, which […]

NNOX is 'Theranos 2.0'; Short report on Lumber Liquidators; Interviews with Carson Block and Dan David; Snowflake's IPO; Working remotely from Bermuda

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, September 17, 2020
1) I’m returning to the topic I’ve been writing a lot about over the past week: activist short-sellers. One of the best, Andrew Left of Citron Research, released a scathing report on Tuesday on medical imaging company Nano-X Imaging (NNOX): A Complete Farce on the Market – Theranos 2.0. Excerpt: Since its recent IPO, Nano-X […]

BP Says the Era of Oil-Demand Growth Is Over; Is ExxonMobil still a value trap?; The Humbling of Exxon; Exxon Downsizes Global Empire As Wall Street Worries About Dividend; Is Big Oil Still a Big Deal?; Big Oil Is in Trouble. Its Plan: Flood Africa With Plastic

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, September 16, 2020
1) Today, global energy giant BP (BP) wrapped up its three-day investor event, in which it “said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more.” This is a big deal, as this Bloomberg article highlights: BP […]

Enrique Abeyta on CNBC; Stick a fork in Nikola; Short report on Brookfield Property Partners; Carson Block and GSX Techedu; Penumbra's Catheter Fail; Theranos' Holmes May Pursue 'Mental Disease' Defense

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, September 15, 2020
1) My colleague Enrique Abeyta was on CNBC last Thursday, where he explained why he’s still bullish on stocks… and special purpose acquisition companies (“SPACs”). Here’s a link to watch the four-minute segment. 2) In Friday’s e-mail, I wrote about the bearish report on electric-vehicle company Nikola (NKLA) published by Nate Anderson of Hindenburg Research. […]

Nikola's lame response to Hindenburg Research; Nikola's History of Discrepancies Has Been in Plain Sight; Wirecard and me: Dan McCrum on exposing a criminal enterprise; My test drive of the Polestar 2

By Whitney Tilson

Whitney Tilson's Daily,
Monday, September 14, 2020
1) In Friday’s e-mail, I wrote about electric-truck maker Nikola (NKLA), whose stock plunged last week after activist short-seller Nate Anderson of Hindenburg Research released a damning report calling it “an intricate fraud built on dozens of lies.” The company responded this morning with a press release entitled, Nikola Sets the Record Straight on False […]

Activist short-sellers; Hindenburg report on Nikola; Nikola's lame response; I'm back in NYC; Manhattan's Office Buildings Are Empty. But for How Long?

By Whitney Tilson

Whitney Tilson's Daily,
Friday, September 11, 2020
1) As I’ve written many times before, I think short-sellers in general and activist short-sellers in particular are incredibly healthy for our markets – they uncover and expose fraud, hype, and overvaluation. Their role is especially important today… With stocks soaring and easy-to-use trading platforms like Robinhood proliferating, more and more novice investors are being […]

85%-plus false positives?; 'Casedemic'; Debate about the Sturgis Motorcycle Rally; Go Ahead and Call Warren Buffett a Snowflake; Wildfires in California and Oregon

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, September 10, 2020
I continue to closely follow the pandemic, sending lengthy e-mails to my coronavirus e-mail list roughly twice a week (if you’d like to receive these, simply send a blank e-mail to: [email protected]). The first three items below are excerpts from the e-mail I sent yesterday… 1) This New York Times article from August 29, Your […]

Reed Hastings' new book and interviews; Winning championships by having only stars on your team; Hastings Deems Remote Work 'a Pure Negative'; Silicon Valley's Culture Clash; Doug Kass: What Does Etsy Tell You About Tesla?; Insider trading at Tesla?

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, September 9, 2020
1) Netflix (NFLX) CEO Reed Hastings and business school professor Erin Meyer released their new book yesterday, No Rules Rules: Netflix and the Culture of Reinvention. I’m really enjoying listening to it on Audible and I’m almost finished (it’s nine hours and 43 minutes, but at my usual 2.75x speed it’s only three and a […]

Why I think Apple will underperform

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, September 8, 2020
1) In three of my e-mails last week (here, here, and here), I discussed bubbles – whether we’re in one and how I’ve correctly identified so many over time. To further explore this topic, let’s take a look at tech giant Apple (AAPL). I’m a huge admirer of this incredible company, and I enjoyed attending […]

More on how I've nailed the top of so many bubbles: my 'spidey sense'; Seth Klarman; Excerpt from my upcoming book

By Whitney Tilson

Whitney Tilson's Daily,
Friday, September 4, 2020
1) Following up on Monday’s e-mail – in which I wrote about how I rely on my “spidey sense” to identify investment bubbles – one sign I look for at market peaks is when investing legends are being dismissed as out-of-touch, past-their-prime fuddy-duddies. Exhibit A today, as I’ve written about many times, is the legendary […]

Coronavirus update; Trump administration embraces Sweden model; New Thinking on COVID Lockdowns; Tracking America's recovery; A Virus Progress Report; U.K. deaths are down even as cases are up; A 'casedemic' in Spain; Brazil – Not the Disaster We've Been Led to Believe

By Whitney Tilson

Whitney Tilson's Daily,
Thursday, September 3, 2020
I continue to closely follow the pandemic, sending lengthy e-mails to my coronavirus e-mail list roughly twice a week (if you’d like to receive these, simply send a blank e-mail to: [email protected]). Below are excerpts from the e-mail I sent yesterday… If you don’t have time to read to the end, here’s my conclusion: Pretty […]

Are we in a bubble? A look at market and economic fundamentals

By Whitney Tilson

Whitney Tilson's Daily,
Wednesday, September 2, 2020
1) In yesterday’s e-mail, I wrote about how I use my “spidey sense” to identify bubbles that are about to burst. But I want to emphasize that I start with the fundamentals, so let’s take a look at them… Mark Spiegel of hedge fund Stanphyl Capital believes that there’s a bubble in growth/tech stocks. In […]

How I've nailed the top of so many bubbles: my 'spidey sense'; Tesla's big move; My friend's 11-year-old son

By Whitney Tilson

Whitney Tilson's Daily,
Tuesday, September 1, 2020
1) The primary way I’ve been able to nail the top of so many bubbles – Internet, housing, alternative power, 3D printing, bitcoin, and pot stocks, to name a few – is good, solid, fundamental analysis. But a secondary way is that I pay attention to warning flags that trigger my “spidey sense” (defined as: […]
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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