This year is a booming year not only for U.S stock market but global stock markets as well. It is puzzling great fund managers close down in a good year. Whitney Tilson is a famed fund manager who practises value investing. I guess his fund size of $50m no longer make sense to continue business operation. https://www.bloomberg.com/news/arti...on-to-close-hedge-fund-after-poor-performance
Tilson said he doesn’t plan to manage other people’s money. He’s considering serving on corporate boards, consulting, and mentoring young investors. Lol when you cant perform you can still teach. How does a investor lose 8% in a roaring bull market..
He got killed in TSLA. Admitted it was the worst trade of his life. He also has been notorious for being short NFLX. Long value and short growth has been a terrible trade. It killed Buffet back in 1999, he lost close to 50%. The good news is he never tried to short any of those stocks. Tilson was on the wrong side of both of these trades.
Amazon great example in their beginning of too over valued and yet it kept going up. 50 million still big bucks and a good fund manager can increase this, so I agree with @zdreg it is ego. You lose when selling highs in uptrend and don't hedge.
He is making a habit of it, this is his second time shattering a fund. I wonder if he will get a third shot?
One thing is for sure, you can be average and still make a fortune in the US. Half of these dudes making hundred of millions are probably of average intelligence at best. It just doesnt work this way in the other parts of the world.
Are you kidding me? The other half of the world wealth comes from families. There is no moving up. Born poor, stay poor. Born rich, congrats, you die rich.
There are thousands of millionaires in the US who came from modest means. In the US being poor doesn't mean you are stuck poor. It's not easy to rise socioeconomically but it's possible.