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  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Whitney Tilson Capitulates, Covers Netflix Short

Tyler Durden's picture

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Thu, 02/10/2011 - 18:13 | 951090 hedgeless_horseman
hedgeless_horseman's picture

The Blackhawks (helicopters) win!

Thu, 02/10/2011 - 18:14 | 951093 rosiescenario
rosiescenario's picture

Ben: 10


Whitney: 0

Thu, 02/10/2011 - 18:15 | 951101 French Frog
French Frog's picture

That means that it's time to go short doesn't it? When real proper convicted bears throw in the towel is the time when it will turn

Thu, 02/10/2011 - 18:17 | 951109 topcallingtroll
topcallingtroll's picture

Capitulation, bitchez.

Thu, 02/10/2011 - 21:30 | 951730 Blano
Blano's picture

The pro fought the trend and lost.  Personally, I'm not going near it.

Fri, 02/11/2011 - 00:17 | 952076 Howard_Beale
Howard_Beale's picture

Perhaps he posted this in a true reverse psychology move and is all in short now... Bet he has June puts.

Thu, 02/10/2011 - 18:16 | 951104 SheepDog-One
SheepDog-One's picture

Clearly signaling the top is in.

Thu, 02/10/2011 - 20:23 | 951488 pragmatic hobo
pragmatic hobo's picture

as they say, top is a process, not an event.

Thu, 02/10/2011 - 18:17 | 951106 tmftdoyle
tmftdoyle's picture

Feels like another Julian Robertson moment. 

Thu, 02/10/2011 - 18:23 | 951133 ghostfaceinvestah
ghostfaceinvestah's picture

Sure does.  Value investor capitulating on a short with a 75x P/E.  Shades of March 2000.

Thu, 02/10/2011 - 18:45 | 951212 Don Smith
Don Smith's picture


Thu, 02/10/2011 - 18:17 | 951110 Dr. Porkchop
Dr. Porkchop's picture

Silly rabbit, dips are forbidden.

Thu, 02/10/2011 - 21:48 | 951769 nevadan
nevadan's picture


Thu, 02/10/2011 - 18:17 | 951111 Bam_Man
Bam_Man's picture

This marks "the top"?

Thu, 02/10/2011 - 18:18 | 951113 Rainman
Rainman's picture

Drowned in a shallow stream of logic.

Thu, 02/10/2011 - 18:19 | 951116 Al89
Al89's picture

With the short float % it had this stock was never going to drop just yet. Tilson will cover, a lot more will cover following him. Stock will probably hit the 250 range, maybe higher. And then, who knows?

Thu, 02/10/2011 - 18:19 | 951117 6 String
6 String's picture

Mike Krieger is right: allocators of capital, but i might add more specially the value pretenders and there are a lot of them, are one of the most brainwashed group alive, or something like that.

In other words, the average value investor is clueless when it comes to valuing the all-important U.S. dollar. When they realize discounting cash flows back to something that is in terminal decline is a useless and futile strategy, it will be too late for the most inflexible thinkers on the planet.




Thu, 02/10/2011 - 18:45 | 951205 mogul rider
mogul rider's picture





When you break it up you see how weak the notion really is. Dollar decline = absolute melt up.



Thu, 02/10/2011 - 18:21 | 951123 raya123
raya123's picture

Bought NFLX put options an hour before this article was posted, now I feel even better.

Thu, 02/10/2011 - 18:21 | 951127 A Man without Q...
A Man without Qualities's picture

Oh yes, time to short Netflix.

Damn right!

Thu, 02/10/2011 - 18:29 | 951157 Bigger Dickus
Bigger Dickus's picture

This modern day Inktomi is screaming "penny stock by 2015"

Fri, 02/11/2011 - 01:16 | 952135 Zero Govt
Zero Govt's picture

ALL US stocks will be penny stocks by 2015 

Thu, 02/10/2011 - 18:36 | 951179 UnRealized Reality
UnRealized Reality's picture

They did the same crap during the Dot Com. Yahoo never seem to go down.

Thu, 02/10/2011 - 18:37 | 951187 Mxriderbp
Mxriderbp's picture

Chipotle is the next balloon that needs to be popped. It will more than likely kiss $300 tomorrow if shorts cover on earnings. They even admitted that they do not hedge their food costs. Haha.

Thu, 02/10/2011 - 18:41 | 951195 Bigger Dickus
Bigger Dickus's picture

Whitney Tilson=pussy

Thu, 02/10/2011 - 18:46 | 951203 Pure Evil
Pure Evil's picture

I smell insider training, or is what I'm smelling the result of blowin' ass?

Or, maybe that's just Whitney blowing ass out her pie hole.

(Flatulence bitchezes!)

Thu, 02/10/2011 - 18:45 | 951210 mogul rider
mogul rider's picture

Net flix rocks man

I said so...........

pass that dube will ya

Thu, 02/10/2011 - 18:47 | 951222 6 String
6 String's picture

Nothing wrong with a good joint and some documentaries streamed me thinks....

Thu, 02/10/2011 - 19:06 | 951260 Pure Evil
Pure Evil's picture

Is that Janet Napolitano knocking down your door?

Thu, 02/10/2011 - 18:45 | 951214 mogul rider
mogul rider's picture

dube bitchez

Or bitchez with dubes

Thu, 02/10/2011 - 18:50 | 951231 DonutBoy
DonutBoy's picture

... longer than you can stay solvent.

Been there, done that, feel the pain.

Thu, 02/10/2011 - 18:54 | 951237 dark pools of soros
dark pools of soros's picture

NFLX is a growth and recession proof stock AND the current stock beauty queen


you cant kill it



Fri, 02/11/2011 - 01:21 | 952138 Zero Govt
Zero Govt's picture

with a 75/1 p/e ratio you don't need to kill the company just push the 'panic' button and watch the investor stampede for the exit doors...  

Thu, 02/10/2011 - 18:54 | 951239 I am a Man I am...
I am a Man I am Forty's picture

chanos will be the next one to bite the dust shorting big oil

Thu, 02/10/2011 - 19:05 | 951259 Waterfallsparkles
Waterfallsparkles's picture

Short capitulation.  Bad news for Nflx.  They need the shorts to continue to ramp up.  Without them there is no one to sell to.

Thu, 02/10/2011 - 20:22 | 951487 SheepDog-One
SheepDog-One's picture

Exactly. Without shorts the 75 P/E's got nothin.

Thu, 02/10/2011 - 19:19 | 951263 Pee Wee
Pee Wee's picture

NFLX has already made my year.

Easy position to take after they demonstrated cross-platform streaming.  Long way to run as they come standard on new TV's.   Swapping electrons for cash allows wide open margins.

Here's another, LVLT -- decade-dog about to become profitable, and complimentary to NFLX on the long end (and costs less than a cup of coffee).


Thu, 02/10/2011 - 19:08 | 951265 Chappaquiddick
Chappaquiddick's picture

Poor Whitney still doesn't get that the whole "value investor" long/short, 130/30 or whatever concept is dead... over...dunzo. Oh well. Best of luck.


I disagree entirely - clearly the penny has dropped that this is now the case and that's why they closed the short.

Thu, 02/10/2011 - 19:12 | 951276 Pure Evil
Pure Evil's picture

Someone's claiming that AAPL got FLASHED CRASHED today.


Thu, 02/10/2011 - 19:14 | 951283 Yen Cross
Yen Cross's picture

  I assume we have all seen the 8 dollar (4 dollar) after QE3 unlimited video and tv streaming, monthly deal? The catch is you have to own hardware for the streaming. Cross branding kick backs. I love all you guitar heros!

Thu, 02/10/2011 - 19:53 | 951385 -Michelle-
-Michelle-'s picture

Not much of a catch.  We "downgraded" our Netflix to streaming-only.  We can use it on our laptops and desktop.  We'd already purchased a Roku when we got rid of our cable.  My husband got an XBox 360 a while back and it works on that.

I like Netflix.  I don't own it because I don't own any stocks at all.  I have no idea if they are viable or vulnerable or whatever.  All I know is that they manage to take care of 95% of our tv-watching desires for $7.99 per month.  The other 5% is EWTN.

Thu, 02/10/2011 - 21:25 | 951707 Cursive
Cursive's picture


EWTN!  Old school.  I always love your posts and now every time I surf by Mother Angelica et al, I'll have visions of my mother AND you watching the crew from Irondo.

Fri, 02/11/2011 - 10:50 | 952562 -Michelle-
-Michelle-'s picture


Thu, 02/10/2011 - 19:17 | 951288 Diogenes
Diogenes's picture

Denninger thinks Netflix is a short. He also thinks gold is a short. Both, for completely logical reasons.

What more do you need to know about today's markets?

Thu, 02/10/2011 - 19:20 | 951299 OptionsHedge
OptionsHedge's picture

I hope Tilson took a bite out at PNRA and CMG. They are both ramping up about 10% AH. That's where the crowds were headed.

Thu, 02/10/2011 - 19:21 | 951305 Buckaroo Banzai
Buckaroo Banzai's picture

Anybody else getting the Netflix banner at the top when you load this article? I believe that's called IRONIC.

Thu, 02/10/2011 - 19:41 | 951360 tahoebumsmith
tahoebumsmith's picture

I believe that's called google watching everything you read and supplementing it with their advertising of choice.

Thu, 02/10/2011 - 19:22 | 951310 gwar5
gwar5's picture

Somebody forgot to tell the poor guy the markets are rigged and the Fed is pumping up stocks.

If this guy doesn't get it, what chance is the average person going to have?

Thu, 02/10/2011 - 19:47 | 951374 onarga74
onarga74's picture

When he lifted the hood he found out that he was really short the printing presses of the federal government.  Rule #1.  A market that always goes up isn't a market. It's an unborn disaster that hurts more people than it could have ever helped.

Fri, 02/11/2011 - 00:59 | 952120 StychoKiller
StychoKiller's picture

Cthulhu snaps a tentacle, people die -- what else is there to discuss?

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