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Another Tough Month For Tilson As CNBC's Favorite Buffett-Worshipper Is Down Over 24% YTD
Presenting, with little comment, Whitney Tilson's disappointing underperformance for October (and YTD):
Our fund rose 7.0% in October vs. 10.9% for the S&P 500, 9.7% for the Dow and 11.2% for the Nasdaq. Year to date, it’s down 24.5% vs. +1.3% for the S&P 500, 5.5% for the Dow and 1.9% for the Nasdaq. Our fund’s performance during the month was roughly in line with what we would expect given that it is nearly 70% net long.
Our long book outpaced the market in October, led by SanDisk (25.6%), Citigroup (23.3%), J.C. Penney (19.8%), Goldman Sachs (15.9%), Howard Hughes Corp. (14.0%), Dell (11.8%), and Berkshire Hathaway (9.5%). The only loser of note was Iridium warrants, which fell 11.8%.
Our short book offset nearly half of our gains on the long side due to Ethan Allen (45.5%), Boyd Gaming (32.2%), Philips-Van Heusen (27.8%), Nokia (18.9%), and Salesforce.com (16.5%). There were two winners of note on the short side, Green Mountain Coffee Roasters (-30.0%), which tumbled after the presentation by Greenlight Capital’s David Einhorn at the Value Investing Congress (see below), and First Solar (-21.3%).
Is it just us or does it seem manager performance is increasingly negatively correlated with the frequency of appearances on CNBC?
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Its funny how people can believe their own lies.
I'm not sure what lies you are talking about. Don't see Tilson as a liar, but rather a criminal syndicate Wall Street type who is analyzing company fundamentals [sort of] and picking stocks...in a market that is no longer a market.
You would think he would understand the error in his overall premise, as it was he and those like him that killed the market. And as such, there is no longer a need to analyze anything or pick anything either.
Until the Tilsons and the Buffets and the Dimons and the Blankfeins are all gone, liquidated in the coming collapse, there is no need for Tilson's skill set...such as it is.
And no...it is not surprising that performance falls in relation to BlowHorn [CNBC] appearances, as all that is left in this nonmarket is arbitrage and hedge fund wars.
Sell these dumb ass criminal syndicate bankers at every opportunity.
Tilson's just another Wall Street cunt.
Fuck him in the ass.
http://fucklloydblankfein.blogspot.com
He must not have owned any barbarous relics. Gold is up ~22% YTD. Some people just don't "appreciate" tradition.
Buffett is Obama's boy and friend of Goldman, Soros and Corzine.
http://www.youtube.com/watch?v=sf3KG8VAtJg
Buffett's little boyfriend Obama let's him in on secrets he can make billions off of
Then Dimon's lil boyfriend Summers tips him off to Fed decisions.
In this market you better have some big swinging dick to suck else Uranus
If he's really analyzing company fundamentals then he should know better.
He knows the economy is broken and heading for Armageddon, but forgot to tell us.
Same goes for Buffet.
OT but good to know;
Obama Praises Aussie Carbon Tax"President Obama yesterday vowed to keep pursuing greenhouse gas emissions cuts despite the demise of congressional climate legislation, calling carbon cuts “good for the world” and “good for our economies” — even as he acknowledged that global progress would be a “tough slog.”"
http://junkscience.com/2011/11/16/obama-praises-aussie-carbon-tax/
How many millions of dollars did Obama's clients lose on that CCX deal?
And this isn't very funny either;
Robert Kennedy, Jr.’s ‘Green’ Company Scored $1.4 Billion Taxpayer Bailout
"President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official."
http://biggovernment.com/whall/2011/11/16/robert-kennedy-jr-s-green-company-scored-1-4-billion-taxpayer-bailout/
What's on the Tele this morning? Well let's see, "The Collapse of the Eurozone" looks good, hopefully. Last months "Ending of the Libya Saga", that was a fierce battle to witness, but it's so yesterday and all I have left now is the "Syria Saga". I pine for the old days when those revolutions were happening over there in North Africa and the Middle East; Tunisia, and that self immolation. That was some good TV viewing. "Egyptian Revolution" was epic to behold. Those giving it that good old college try "Yemen, Bahrain, and Saudi Arabia Civil Clashes Series" was very entertaining to watch last summer but I'm looking for something to top all them as my taste in TV Dramas has been tainted with higher standards. I need more. I know a thing or two about collapses, so if any of my intuition is right, this "The Collapse of the Eurozone" program will probably earn five stars from me. I'm putting it on the TV right now and DVRing it for posterity. It will be good TV viewing, I guarantee.
Wow. After this month maybe -30%. Seeing those results makes me feel good being down a few points.
100% correct! For every minute one of these "experts" spend on CNBC TV, there is a direct correlation between that and everyone watching taking their money and doing the exact opposite of their advice!
They are simply trying to talk the rest of the investment world into drinking the cool aid, so their positions have a chance. They know it's all coming down.
When the insiders start losing money I get worried.
Its all game Theory.
Problem is that once the participants are down to just a few, the top 1% begins to fragment.
They turn against each other. Insiders fight against insiders,
Maybe he shoulda just buried all that hedge fund money in his backyard and then just dig it up next year. He'd probably outperform the market by 100% doing that.
Correct. Anyone not carrying a huge cash horde right now, or a short book, is a tool.
JUST MEDIATE
why do people continue to give this man money? unreal...
When you don't know how to grow your money, you give it to someone who "knows"
Anyone who is relying on someone else to grow their wealth deserves to be fleeced, than taken to the cleaners and raped again.
The art of becoming a billionaire is how to invest someone Else's money, never your own.
agreed...although i try and follow livermore's advice
"play a lone hand"
mr. tilson has a timing problem imho...he was right about nflx but early, covered at the worst time, and now he's long??? also, i seem to remember him talking about shorting gmcr after the move from 70 to 40...i don't know if he was already short but he probably should have covered at 40...i guess it doesn't matter much when people are willing to trust you with their cash despite your performance
there is no way this person could be a man with a name like Whitney! Unless it's a situation like a Boy named Sue.
hey tilson, bill miller needs a daytime drinking buddy, all that analysis has been a complete waste of fucking time, you make my mattress look like a fucking financial genius, are you still going to charge money for what you do and if so why?
Re. (Tilson) you make my mattress look like a fucking financial genius
Just about says it all - LOL!
From here on success on Wall Street is directly proportional to your degree of connectedness to politicians.
Even the bullshitters are going down
The CNBC hypothesis could be correct.
On the other hand, if you showed up once a day and just bitch slapped Liesman, you'd end up with more clients - and prolly even some women throwing pantiies at you.
High class hookers not returning Tilson calls tonight. Oh the humanity!
Why is zerohedge blood lusting over some wannabe Cramer? Yeah, I get it- take the other side of the trade, but why the 'cat fight'? Take hos money, close out the trade, and act like you have been there before.
Asian powers spurn German debt on EMU chaos
Traders say Asians are taking profits on Bunds and pulling out, with signs that even China's central bank is shaving holdings. Mid-east wealth funds have remained firm.
http://www.telegraph.co.uk/finance/financialcrisis/8897775/Asian-powers-...
Gold and silver just following their predicted patterns:
Gold:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34947&hilit=+sil...
Silver:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34947&hilit=+sil...
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&hil...
Nothing to worry about.
I would like ZH a lot more if they gave more than one viewpoint. But I suppose being fair and balanced isn't part of the marketing plan...Durden entertains, he does not inform. Using information on this site to make investing decisions is hazardous for your financial health. ZH will be right occassionally, but don't take this as confirmation. Even a broken clock is right twice a day.
I didn't notice any *cough* "fair and balanced" claim made by ZH. CNBC, Bloomberg and the rest exist to sell advertising and turn a profit same as anyone else - they just have more resources and better production values than poor old black on white ZH. CNBC in particular panders to the firms that buy advertising from them. Look at CNBC guests then watch their commercials - one and the same. CNBC has a "long" bias because the majority is long the market at any given time. Hedge funds would not appreciate CNBC running any story or opinion that might lead to redemptions - so you see candy coated fluff and reassurance around every corner. Zero Hedge may have to expand its coverage as markets heal in the years to come - but for now, ZH is about gold, guns and 2x short ETFs. If you want the counter view - you can go to CNBC, Bloomberg, MarketWatch, Yahoo Finance or USA today for that matter.
I don't read playboy for the articles.
Pound sand newb. You are clueless. People who were smart enough or lucky enough to find this site early on have done very well. It has been a joy watching people stumble in here over the years.
Your kind have an agenda which gets called out here very fast. Seriously, beat feet.
No agenda here. And the alternative to ZH is not CNBC or Bloomberg, there are tons of other sites out there.
But you guys are right. ZH offers a counterpoint to a lot of the mainstream dribble, perhaps that's where its value lies. I do value ZH's immediacy much more than the other sites. Whatever happens, it's usually on ZH before the common financial news sites (Yahoo Finance, Google Finance, Bloomberg, etc.)
@Kippy The people who saw this site in 2008 did very well. Those you were on in it in mid-2009, not as much.
ZH is not here to hold your hand or give you trading tips.
If you can find a site with better insights into the workings of `credit` markets and the shifting relationship between credit and other expressions of risk please post a link to it.
ZH is free - be thankful, and go complain elsewhere.
Lol, who's complaining. I'm making observations. Dissent is the essense of critical thinking. If you don't like people with opposing viewpoints, you're setting youreslf up for failure.
Once 5% of market participants realize that the FED is leveraged 60-1 against its own capital
meaning that the probability of further QEs (what those market dumbos have been frontrunning) is zero, nada, nichts, zilch
the S&P 500 will crash by 300 points in a single session. It´s actually just a question of time.
Hmm, interesting ... turds want to ban the smell of shit ...
U.S. Department of Justice wants to lock you up for lying on the internethttp://www.theverge.com/2011/11/15/2564768/DOJ-ruling-Computer-Fraud-Abu...
Tilson is a bum.
Maybe Dick Handler will hire him?
ZH is a bright spot in my day you guys crack me up sometimes. Do your home work is a great motto and a great protocal
1) is tilson a long short guy, or is he only long. although I think everyone should take some profits going up to reinvest lower down for the long run.
.....is it possible that tilson, paulson et. Al. could be generating losses to offset the past major gains? it is not inconcievable that thier clients could use them..........just sayin'
My guess is Tilson's just trying to get a mandate to manage some union pension money. That's where his love for Buffett comes from. If you get in that inner circle you have a direct line to SEIU, etc.
I bet Tilson would pony up a lot of cabbage for the opportunity to go down on Buffett.