Yeah. Real ScumBag , that Whitney Tilson!
Normally, I don't call people names but this Tilson Guy is a Real ShitBag... He had No Investment Experience what-so-ever but he put out a "Fake Resume' that he had an MBA from Columbia and 'started' his Hedge Fund, with his 'connections' when the Market was collapsing in 2008 and he 'got lucky' and was able to 'Enter into a Short' position in Lehman...
You must understand how Corrupt Wall St is...At that time Many Retail Investors also wanted to 'Short' the Big Wall St firms like Lehman, JPMC, MS, BAC, Citi etc when these Savvy Retail Investors realized how much these Wal Street firms had placed "leveraged Bets' BUT then Wall St "Colluded" and would Not Allow any Retail Investors 'Borrow' shares of these Banks to Enter Short positions... Instead, they themselves 'cornered' all The Shares "Available to Short' of the Banks and started 'Shorting' the Rival Banks stocks!
But to come back to this Tilson Guy, He never actually got an MBA from Columbia... all he did at Columbia was to 'audition' to a couple of the Business School's MBA courses.. Normally, Columbia's Grad School of Business doesn't even allow anyone who is not enrolled officially in its MBA to do that but he did that Clandestinely , using his "connections' with some Columbia Faculty ...He then later 'bragged' about this in another Podcast interview...
But the guy had no inkling of how even a 'Short position' works, when he 'opened' his Hedge Fund and 'Shorted' LBHI Common stock...He then Got 'Too Greedy' and didn't Cover his position even , as we know, it fell to 5C range before/immediately upon filing the BK when it was still trading. He could have evn covered his "Short' at 5C, when it was trading OTC but for whatever reason he didn't till it stopped 'trading' even on OTC!
I sincerely hope upon LBHI 'Emergence' out of BK, it starts trading north of $10+ just so that this Tilson Guy really Goes Bankrupt!
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