Your Worst One Percent: The Art of Playing Defense

Whitney Tilson’s email to investors, sharing an excerpt on “Your Worst One Percent,” from his upcoming book, The Art of Playing Defense.Q3 2020 hedge fund letters, conferences and moreFollowing up on yesterday’s e-mail about the calamity of losing your reputation, here’s another related excerpt from my upcoming book, The Art of Playing Defense:Your Worst One PercentIt’s important to understand that you aren’t judged for the way you behave 90% or even 95% of the time, but rather on your worst 1% – or even 0.01%.To my knowledge, David Sokol, a senior executive at Berkshire Hathaway (BRK-B), had …

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HEDGE accordingly