Thursday, June 8, 2023

How Crispin Odey evaded sexual assault allegations for decades; Instagram Connects Vast Pedophile Network; GameStop shares plunge; Making of the Meme King; Ukraine launches counteroffensive against Russia

By Whitney Tilson

1) The front pages of today's Financial Times and Wall Street Journal feature two exceptional pieces of journalism that are likely to bring about important and much-needed changes. First, the FT has exposed one of London's best-known hedge fund managers as a serial sexual predator: How Crispin Odey evaded sexual assault allegations for decades. Excerpt: […]

Wednesday, June 7, 2023

Guy Spier On How Lunch With Warren Buffett Changed His Life; This Rally Is All About a Few Star Stocks – and Some Investors Are Worried; Tingo Group: Fake Farmers, Phones, and Financials – The Nigerian Empire That Isn't; Companies That Embraced Social Issues Have Second Thoughts; Value Investing Seminar Italy next month

By Whitney Tilson

1) My friend Julia La Roche interviewed my old friend Guy Spier of Aquamarine Capital late last month. In it, they covered the inauspicious start to his career (3:00), learning about Warren Buffett (6:13) and making his first pilgrimage to Omaha (9:47), how the lunch with Buffett was "transformational" (22:30), why he changed his mind […]

Tuesday, June 6, 2023

Twitter's U.S. Ad Sales Plunge 59% as Woes Continue; The Worst Housing Affordability Ever?; SEC Says Binance Misused Customer Funds, Ran Illegal Crypto Exchange in U.S.; Cyber scammers target parents, grandparents for digital theft

By Whitney Tilson

1) I confidently predict that Elon Musk's takeover of Twitter will be a case study taught in business schools for decades to come... The question is, a case study of what? About how a company became so bloated that new management could cut 75% of its employees without a noticeable degradation of its service? And […]

Monday, June 5, 2023

Don't Attend the AI Church That Is Happening Now; Labor force participation; Manufacturing construction spending; Hedge Funds at War for Top Traders Dangle $120 Million Payouts; How to Claim Your Share of Facebook's $725 Million Privacy Settlement

By Whitney Tilson

1) We've all been bombarded with stories about how artificial intelligence (AI) is "the next big thing," so of course every company is trying to tie itself to it to juice its stock... My friend and market veteran Doug Kass of Seabreeze Partners shares my skepticism that the run-ups on most AI-related stocks is warranted, […]

Thursday, June 1, 2023

Fed Prepares to Skip June Rate Rise but Hike Later; Used car prices down; Robinhood users hit three-year low; Sector reversal; The Stock Market's Great Divide; Manhattanhenge

By Whitney Tilson

1) It looks like the first part of my prediction about what the Fed will do the rest of this year is going to prove correct... Starting with not raising interest rates at its next meeting coming up in two weeks, based on this story from the front page of today's Wall Street Journal: Fed […]