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URL:  https://boards.fool.com/quotltlt-i39m-not-sure-if-anyone-else-33144918.aspx

Subject:  Re: Black Swans & Billionaires Date:  8/9/2018  2:27 PM
Author:  ciaov8 Number:  238087 of 256267

"(<< I'm not sure if anyone else here listens to the Intelligent Investing podcast with Eric Schlein, but Tilson was a recent guest. He has a good story about shorting, and Charlie Munger's personal and specific advice to him, near the beginning of his career. >>

Link: https://intelligentinvesting.podbean.com/e/interview-with-wh......

-Rubic )"


Many thanks Rubic

I listened to the Podcast with great interest as I was an investor with Whitney for 15 yrs.
My perf in his fund was exceptional in the first 10 with an outperf of the S&P of +7.8%/yr followed by a very poor underperf of -14.5%/yr for the last 5 yrs. The net of this was an overall outperf of +0.5%/yr. I feel the last 5 yrs of underperformance were definitely related to poor short selection in a rising market and partly responsible for shutting down the fund. In the end, I found Whitney to be an excellent general partner communicating clearly and what I felt truthfully, and would likely continue to be an investor in his partnership today(had it survived) if he had followed Charlie's clear advice regarding Short Selling!

I was unable to find a transcript of the above interview as the portion of the interview relating to Charlie's view on Shorting is absolutely outstanding & I would have quoted here.

As an aside , I did not know this about Whitney,


"Mr. Tilson is an avid mountaineer and has climbed Mt. Kilimanjaro, Mt. Blanc, the Matterhorn and the Eiger. He also competes in obstacle course races regularly and is the all-time record holder in the 50+ age group at the 24-hour World’s Toughest Mudder, having completed 75 miles and nearly 300 obstacles in 2016."

There were 1,235 competitors of all ages , Whitney came in 58th finishing 75 miles in 25:12:46 and #1 in his age group!


https://www.youtube.com/watch?v=aycSctbsmA8
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