Photo: Courtesy of Bloomberg
Bow down to this week’s most successful hedge fund manager: Whitney Tilson.Let’s review:
Monday: Microsoft announced a major investment in Barnes & Noble, sending shares of the Nook maker into the stratosphere. Whitney Tilson went long BKS last Tuesday.
Wednesday: Green Mountain Coffee slashed guidance and announced huge write downs on their inventory. Whitney Tilson appeared on CNBC reminding the world that his firm T-2 Partners was short the stock.
Thursday: After the closing bell, First Solar announced a huge Q1 revenue shortfall and an unexpected net loss. The stock, which had already been banged up, fell in electronic trading. On April 20, Tilson told CNBC that he was short First Solar, which was one of three companies he argued was on “full scale collapse.“
We haven’t confirmed if he was still short. But we’re thinking he’s still holding that short position. Here’s an excerpt from his monthly letter that was distributed to T2 Partners’ clients Wednesday:
Our gains for the month came entirely on the short side thanks to Nokia (-33.5%), First Solar (-26.5%), and Tesla (-11.0%), partially offset by Interoil (17.6%).
There’s no telling exactly how FSLR will trade tomorrow.