Whitney Tilson Quotes

Just because a stock is down doesn't mean it's a great buy.

I think investors ought to focus on making sure that the stock is within their circle of competence, that it's worth a lot more than it's valued at - and once you have those two things, a stop-loss makes no sense.

There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market.

Don't bottom fish.

What we do is we test what works on Wall Street. And sometimes it is earnings momentum, and sometimes it's earnings surprises. Sometimes it's price-to-sales cash flow, and then we put together our stock selection models.

Since we try and take a fairly buy-and-hold approach to our newsletter portfolios and don't sell at every whipsaw, we want to have a mix of stocks that will perform at both ends of the oscillation.

There are two ways to approach the market. You can guess which direction prices will go in next, or you can figure out what businesses and their securities are really worth.

I try to buy shares of unpopular companies when they look like road kill and sell them when they've been polished up a bit.

Market timing, by the way, is a tag some buy-and-hold investors use to put down anything that involves using your brain. These are the same people who like to watch the locomotive coming and get run down in the name of discipline.

Whenever you hear a discussion about the short-term swings in any given stock's price, your immediate thought should be whether it matters to why you are investing.

I've learned there's a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.

Short sellers sell stock they have borrowed, hoping to buy it back later when its price has fallen.

Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.

If you go back to 2001, the market had two violent short covering rallies then, although I know the market didn't officially get going until March 2003.

I grade my stocks. I'm what they call a quant, one of the geeks of the stock market.

We continue to advise that investors remain committed to a patient, long-term outlook and that the best way to do well in stocks is to use a disciplined, time-tested strategy that has the benefit of empirically tested results over a variety of market environments.

Don't try to buy at the bottom and sell at the top. It can't be done except by liars.

Shorts wager on price declines by selling shares that they have borrowed in the hope of buying them back at far lower prices.

When you trade sometimes you lose.

I'm going to reveal the grand secret to getting rich by investing. It's a simple formula that has worked for Warren Buffett, Carl Icahn and all the greatest investment gurus over the years. Ready? Buy low, sell high.

Market timing doesn't work. If all the bubbles and all this mispricing really exist, how come so few people see it before it turns out that way?

The market is often stupid, but you can't focus on that. Focus on the underlying value of dividends and earnings.

Shorting saved my butt in 2008... Shorting kept me in the game. It generates cash when the market's crashing. And that's what you want when the market's crashing - cash.

When high-growth companies slow down, growth and momentum junkies often sell indiscriminately, which can create great opportunities for value investors. Just be careful not to anchor on the stock's previous price or earnings multiple, which are no longer relevant.

The consequences of overestimating a company and your ability to analyse it are greatly diminished when you're paying a lot less for it than your analysis shows it is worth.