On Concentration And Trading Berkshire
[munger]
As ValueWalk reported earlier this month, Whitney Tilson’s hedge fund Kase Capital, lost 4% in the first quarter and dropped 7.3% in 2015 according to the fund’s full-year 2015 letter to investors.
Whitney Tilson Down 4% In Q1, -7% In 2015; Lumber Liquidators Is Biggest Short
In the letter, Tilson acknowledges that 2015 was a disappointing year for the fund. After two solid years of performance (+16.6% in 2013 and +13.7% in 2014) by the end of 2015 almost half of the gains booked in 2014 had been wiped out. And the biggest lesson of the year for Tilson (and for readers of his 2015 letter) is that it’s always best to sell...
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