Another little tidbit that I culled from my old Circle posts from 23 Jul 2011:
Maybe Whitney Tilson is not the investing genius I thought he was. During the period from 26 Jan 2007, the date his Tilson Focus fund started, his fund is down 7.6%, compared with 6.0% of the S&P 500.
Update: since inception, his fund is down 35.2%, compared with S&P 500 of being down only 0.3%. Morningstar give him a rating of one star, classifying his return as low and his risk as above average. YTD, the S&P 500 has been doing great guns, up 13.4%, compared with Tilson Focus down 9.9%. I can only surmise that Tilson isn’t copying his pals Ackman and Einhorn enough.
His second biggest holding is IRDM (Iridium) was discussed recently by John Chew, a truly outstanding blog that is about investor education than share tips. Here’s a snippet from his post:
A hedge fund made a case for investing in IRDM’s growth, but we made the case that true capital expenditures were not being accounted for and thus true owner earnings were being overstated. I repeat this case since the concept of true MCX is so important. Look at the lost opportunity cost for this hedge fund.
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