‘Patriotic Millionaire’ Shorts American-Funded Company
Still posts huge losses on the month
By Staff
The Washington Free Beacon
June 8, 2012 11:23 am
http://freebeacon.com/patriotic-millionaire-shorts-american-funded-company/
Ultra-wealthy Obama supporter Whitney Tilson had a rough month. His T2 Partners hedge fund, which manages more than $260 million, posted a 13.6 percent loss in May, underperforming the major indexes.
“Our fund fell 13.6% in May vs. -6.0% for the S&P 500, -5.9% for the Dow and -7.1% for the Nasdaq,” Tilson wrote a letter to investors. “It was an ugly month – our second-worst ever.”
One of the few “winners” in Tilson’s portfolio was his short position in First Solar, a company on the brink of collapse despite receiving more than $3 billion in federal loan guarantees from the Obama administration. [Hmmm ... you think Tilson was tipped off by White House insiders to short First Solar? You never know, there could have been a conversation like this, "Hey Tilson, we're going to prop up First Solar with $3 billion of taxpayer money and make it look good for awhile, but since it really is a dog of an investment, you should go ahead and short it, now! You'll make a killing and then you can pay us off with campaign contributions." Well, you know Barry Soetoro ... he really loves his 1 percenters ... at least the ones that love him back, don'tcha know! 
B.]
Tilson is a member of the “Patriotic Millionaires,” a group of wealthy Obama supporters backing the president’s effort to raise taxes on high-earners.
Ironically, Tilson is currently profiting (though not enough to make up for his considerable losses) by betting against a company that was propped up by taxpayer dollars.
The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. ~ D.H. Lawrence
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