Former hedge fund manager Whitney Tilson, now Editor at Stansberry Research, returns to The Julia La Roche Show for a wide-ranging discussion on the economy, markets, and common mistakes investors make.
Whitney discusses the strength of the macro picture and the importance of not betting against America.
In this conversation, Whitney shares stock picks, reflects on missed opportunities, and discusses the importance of letting winners run. He also talks about closing his hedge fund, lessons learned, and the wisdom he gained from the late Charlie Munger.
Tilson emphasizes the need for patience and discipline in investing and highlights the five calamities that can derail a successful life.
Links:
Stansberry Research: https://stansberryresearch.com/our-team/whitney-tilson
The Art of Playing Defense: https://www.amazon.com/Art-Playing-Defense-Falling-Behind-ebook/dp/B091QFHJ6B
Timestamps
00:00 Introduction
00:55 Big picture view of the economy and markets
02:43 Caution against letting politics influence investment decisions
03:38 The mistake of predicting gloom and doom
05:24 Betting against America doesn’t make sense
06:59 There are warning flags, but stocks aren’t in bubble territory
8:10 Bitcoin smells frothy, but ‘I would never short it’
09:22 Stock Picks: Berkshire Hathaway, Meta, and other opportunities
10:02 Bitcoin is an instrument of pure speculation
15:56 Stock pick ideas - Berkshire Hathaway, Meta, etc.
21:26 Introduction to Warren Buffett and value investing
26:48 Stock exchanges as interesting investment opportunities
29:08 Lessons from missed opportunities
36:07 The importance of letting winners run
38:50 Reflecting on closing the hedge fund, mental mistakes investors make
43:48 Running a Hedge Fund with Patience and Discipline
46:13 Charlie Munger's legacy
50:06 The Art of Playing Defense
#046 Whitney Tilson On Avoiding The 5 Calamities That Can Ruin You
#045 Caleb Franzen: The Fed Is Being Challenged By Ongoing Labor Market Dynamics
#044 Standing Up to the Woke Mob and Walking Away From $1 Million: Jennifer Sey's Story
#043 Jon Hilsenrath On Treasury Secretary Janet Yellen And Navigating An Era Of Upheaval
#042 MEGATHREATS: 'Dr. Doom' Nouriel Roubini's Scariest Prediction
#041 Jim Bianco: Recession Has Become The New Bull Story On Wall Street
#040 Tom Thornton On Why We Might See True Capitulation In The Markets In 2023
#039 Stephanie Link On The Fed, Markets, And Working With Jim Cramer
#038 ‘Art & Equity’ With Blythe Masters, Brett Redfearn, Elizabeth Von Habsburg, and Carlos Domingo
#037 Axel Merk On The Fed's Sledgehammer Approach To The Economy
#036 Jim Rickards: We're Looking At A Global Recession
#035 Envestnet Co-CIO Dana D’Auria On Personalizing Portfolios
#034 Carson Block On Latest Shorts And The 'Mass Investing Delusion' Of ESG
#033 Jan Van Eck On Why Now Is The Time To Buy Bonds
#032 Scott Galloway: It's Never Been Easier To Become A Billionaire, But It’s Never Been Harder To Become A Millionaire
#031 Danielle DiMartino Booth On Recession, Housing, And Killing The Fed Put
#030 Vitaliy Katsenelson On The 'Dot-Com Bubble 2.0' Ushering In 'A Value Investor's Paradise'
#029 Steve Case On Peak Silicon Valley And The Rise Of The Rest
#028 Dr. Nomi Prins On How The Fed Created A ‘Permanent Distortion’
#027 Rick Rule: The Damage Will Be Severe But Survivable
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