Whitney Tilson’s email to investors discussing that everybody expects a 1999-style ‘melt up’.
A 1999-Style Melt Up Is Likely
1) My colleague Enrique Abeyta has been pounding the table since March that the market is going higher – and he has been 100% right so far.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
He's also on record saying he thinks a 1999-style "melt up" is likely going forward, and just sent me some fascinating charts about this from The Market Ear, with the following comments:
My view about the coming melt-up is no longer as out-of-consensus as it once was.
I still think it's going to happen... but if you're going to play for a melt-up, you'd better be ready for some volatility and be ready to stick it through. Many stocks could be down 10% before going up 50%.
Thank you, Enrique!
Here are the seven charts Enrique sent me: