Whitney Tilson’s email to investors discussing that the SEC is investigating Loop Industries; Friendly wager on the presidential election for charity.
SEC Investigating Loop Industries
3) In Wednesday's e-mail, I wrote:
Many of the most well-known hedge fund managers in the world engage in philanthropy, and in doing so, they often reveal their favorite hedge funds through a review of their foundation's public filings. Bill Ackman's Pershing Square Foundation invested in several hedge funds during the fiscal years that ended in September 2019 and September 2020.
Nate Anderson of Hindenburg Research – who wrote the report that exposed the electric-truck developer's deception – released another short report yesterday on plastics recycler Loop Industries (LOOP), which crashed the stock by 33%. Here's a link to it: Loop Industries: Former Employees and Plastics Experts Blow the Whistle on This "Recycled" Smoke and Mirrors Show.
Sure enough, Loop disclosed in a filing last week that it has "received a subpoena from the U.S. Securities and Exchange Commission ('SEC') requesting certain information from the Company, including information regarding testing, testing results, and details of results from our Gen I and Gen II technologies and certain of our partnerships and agreements."
Friendly Wager On The Presidential Election
4) According to nearly every poll and betting site, President Donald Trump is likely to lose his bid for re-election in two weeks.
However, there's a wide range of estimates regarding how much of an underdog he is – The Economist gives him a mere 8% chance of victory, while real-money betting site PredictIt gives him a robust 40% chance.
I think that Biden is going to win (to be clear: I'm not making a political statement about what I want to happen... rather, this is my best, unemotional assessment of the odds).
If you disagree and think President Trump is going to pull another upset, then let's make a friendly wager to benefit either your favorite charity or mine (KIPP charter schools in New York City, on whose board I've served for the past two decades).
This is something I've done for each of the last three presidential elections, and it's raised nearly $100,000 for KIPP and various other wonderful charities.
To participate, all you have to do is e-mail me at [email protected] and let me know how much you'd like to wager, ranging from a minimum of $100 to a maximum of $2,500. I will accept all offers up to a total of $25,000.