Whitney Tilson in his email to investors discusses his CNBC appearance (GOOG, FB, AMZN); Trump on ‘there’s no tarriffs’; Buffett on the financial crisis.
1) I was on CNBC yesterday morning, talking about why I like Google, Facebook and Amazon: www.cnbc.com/video/2018/10/31/bull-and-bear-debate-the-fang-trade.html (5 min)
Michael Mauboussin: Here’s what active managers can do
2) While this degree of illiteracy, ignorance, contradiction and mendacity is sort of hilarious, it also must be factored in by investors trying to assess the likelihood of whether the trade wars we’re involved in escalate or are resolved:
WSJ: A lot of people say that tariffs are really the biggest threat to the economy long term.
Trump: We don’t have any tariffs. I mean other than some tariffs on steel — which is actually small, what do we have? … I didn’t put tariffs… Where do we have tariffs? We don’t have tariffs anywhere… We don’t have tariffs. Where do we have tariffs? I’m talking tariffs. I’ll use tariffs. I mean it… There’s no tariffs.”
(Full transcript here)
3) Speaking of WSJ interviews, here are two that the paper did with Buffett on his reflections on the global financial crisis:
- Warren Buffett Explains the 2008 Financial Crisis (5 min)
- Why Warren Buffett Said No to Lehman and AIG in 2008 (5 min)
4) Speaking of Buffett, here’s a funny 3-minute video about his diet.
PS—It was my 52nd birthday today. I celebrated by going out for pizza with Susan and my oldest daughter, Alison.
More pics here: https://www.facebook.com/wrtilson/posts/10156655269138632