market folly

Here's a video interview from WealthTrack with Whitney Tilson (hedge fund manager of T2 Partners), David Winters (Wintergreen Fund), and Michael Hartnett (Chief Global Equity Strategist at Merrill Lynch). Tilson has said that he has been trimming a lot of his longs and has been adding to his short portfolio, citing valuation and concerns of a "long, grinding recession." Back in the early part of the year, he says his hedge fund was on offense and now they are playing defense. He continues to believe that the problems in the housing sector are not quite solved just yet and this will present further problems going forward. Hartnett, on the other hand, says that we could see enough data from retail sales and consumer activity to complete the cyclical bull we're in. Lastly, Winters is focused outside of the United States as he think future trends play toward international themes. Here's the video embedded below:




We've covered Tilson on the blog before and you can read his August letter here. Additionally, Tilson has provided thoughts on Berkshire Hathaway (BRK.A) in the past too. To hear more insight from Tilson and tons of other prominent hedge fund managers, check out the Value Investing Congress which will be taking place October 19 & 20 in New York City.