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IN THIS ISSUE
Why We Covered Our Netflix Short
By Whitney Tilson and Glenn Tongue, Managing Partners, T2 Partners LLC
Quick Take: Whitney Tilson on Iridium
By Value Investing Letter
Investing Lessons From 2010 – A Los Angeles
By Michael Kao
How Real Estate Investors are Creating Value i
By Craig Haskell
Lafarge - Building on the Recovery
By Marcelo P. Lima
These Low P/B Stocks are on Sale
By Jae Jun
FINANCIAL AND BUSINESS NEWSFINANCIAL AND BUSINESS VIDEOSVALUE INVESTING ARTICLES |
THIS MONTH'S ISSUE![]()
Why We Covered Our Netflix Short
By Whitney Tilson and Glenn Tongue, Managing Partners, T2 Partners LLC
When the facts change, I change my mind - what do you do, sir? -- John Maynard Keynes
In mid-December, we published a lengthy article on why Netflix was our largest bearish bet at the time. With the stock up nearly 25% since then, one might assume that we’d think it’s an even better short today, but in fact we have closed out our position because we are no longer confident that our investment thesis is correct. There are three primary reasons for this: 1) The company reported a very strong quarter that weakened key pillars of our investment thesis, especially as it relates to margins;
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