From Whitney Tilson’s latest email to investors
1) Greetings from Trani, Italy, where I just finished co-hosting the 15th Annual Value Investing Seminar the last two days. As always, there were many compelling ideas and it was great fun reconnecting with old friends and making new ones.
Attached is the presentation I gave, entitled Thoughts on Portfolio Management, How to Find Winning Stocks, the Power of Accelerating Growth, and Google/Facebook (embedded bel0w)
Q4 2020 13F Round-Up: Notable Hedge Fund Changes Including Pabrai, Abrams, Price, Klarman And More!
Below is our 13F roundup for some high profile hedge funds for the three months to the end of December 2020 (Q4). Also check our screener for more detail! Q4 2020 hedge fund letters, conferences and more The statements only include equity positions as 13Fs do not include cash and debt holdings. What's more, the Read More
2) Despite scheduling our first webinars during the dog days of summer and doing no marketing whatsoever beyond this email list and word of mouth, we’re getting an excellent response with two dozen registrants so far.
One of our former students, Artem Fokin of Caro-Kann Capital, copied us on an email he sent yesterday to a friend who’s considering signing up:
“Definitely sign up for Whitney and Glenn’s seminar! Totally worth every penny of the price (and way more!!). Think about the Seminar this way: it is the emerging managers roundtable in Omaha where you and I finally met in person but on massive, powerful, modern day steroids.”
Thank you Artem!
Details are below, attached and posted at www.tilsonfunds.com/KaseWebinars.pdf.
If you’d like to join us, you can register at: www.cvent.com/d/dgqdlz/4W. Don’t delay as the tuition goes up tomorrow night at midnight EST:
ValueWalk readers should use VW10 to receive a big discount
3) Another one of our students, Gabriel Grego of Quintessential Capital Management in NYC (he gave the amazing presentation on Folli Follie at our shorting conference), is looking to hire a personal assistant, so asked me to share this. Interested people should contact him directly at [email protected]
Marketing oriented Personal Assistant to the CEO:
- Leading the Fund’s digital marketing strategy (website, social media, blog, etc.).
- Identifying and engaging prospects and pitching the Fund to potential investors.
- Attending conferences, charity and other exclusive events for the purpose of generating leads.
- Dealing with blogs and other publications.
- Assisting with public relations and brand management.
- Personal assistant to the CEO (including general administrative activities/secretarial work).
- College degree.
- Good people skills.
- Precision and reliability.
- Ability to occasionally work under stress and meeting tight deadlines.
- Willingness to travel occasionally overseas.
- Foreign languages, military experience, familiarity with the financial services industry are pluses.
- Competitive initial compensation package plus performance-based bonus.
- Possibility to work part-time and/or flexible hours.
- Possibility to attend courses for professional development.
4) I am flying to Venice in a few hours and taking a train to the Dolomites where I’m going to do some pretty hairy climbs (roped to a professional guide at all times!) in the next three days to raise over $100,000 for my favorite charity, KIPP charters schools. I’d be grateful for your support. See below for the email and pictures I sent around a few weeks ago.
From July 23-August 1, we are going to teach via live webinar our Lessons from the Trenches investing bootcamp, followed by our seminar on How to Launch and Build an Investment Fund from August 2-4.
Rather than the full days we teach when we’re doing it in person, we’re breaking the two programs into 12 modules – 9 for the bootcamp and 3 for the seminar – that we will teach in 2½-hour sessions that will take place live every day from 7:00-9:30am NY time (no class Sunday, July 29).
The webinar offers big advantages for participants:
- No need to take time off of work: The webinar is only 2½ hours/day and takes place before work hours for those in the U.S., Canada & Latin America, and after work hours for most of Asia (India, China, Singapore, Australia). (Europeans will need to carve out time in the middle of the day.)
- No need to travel: Anyone, anywhere in the world, can take the webinar using a smartphone, tablet or computer
- More affordable: Participants won’t incur any travel or hotels costs and, because we don’t have to pay for renting a room, providing meals, etc., we’re pricing the webinar at less than half of our normal tuition, with an especially big discount for early registrants
Of the ~6,000 people on this email list, I’d guess that at least 1,000 are in some way, shape or form trying to raise money, which is the most important thing we teach in our seminar on How to Launch and Build an Investment Fund (see attached). It grew out of my own experience where, in my first decade, I took my AUM from $1 million to $200 million, thanks to these returns:
At the time, I thought I was doing great from a capital raising perspective – I’d guess that fewer than 1% of funds that start so small ever get to such scale.
But I now realize that I could have gotten to $1 billion had I developed and invested in an effective, organized fundraising strategy and plan. This mistake cost me tens of millions of dollars personally. Thus, I would gladly pay $1 million right now – seriously – to go back in time and teach myself what we’re teaching in our seminar.
In light of the millions of dollars that most people are trying to raise, what we charge for our seminar is less than a rounding error. In fact, I’m so sure that we can give you some valuable new ideas that I’ll make you the following offer: sign up for our upcoming webinar and if you don’t agree that it’s worth exponentially more than the $795 we’re charging for it (going to $995 at midnight Sunday), then I’ll refund your money, no questions asked.
ValueWalk readers should use VW10 to receive a big discount
You can register for it (and, if you wish, our Lessons from the Trenches investing bootcamp, taking place over nine sessions July 23-August 1) at: www.cvent.com/d/dgqdlz/4W. You can be anywhere in the world, on any device; three 2½-hour sessions August 2-4, 7:00-9:30am NY time; they’re recorded if you miss any.