The most visible hedge fund manager that I’m aware of Whitney Tilson and his partner Glenn Tongue held their quarterly conference call yesterday.
In the call they disclose all of their short positions (and top 10 long positions). T2 is very unique in being so open about their short book and it is very interesting to get to hear about their positioning.
T2 is above the market year to date but has underperformed the last two months as the market has risen.
In the call they also discuss in detail the housing market which they have become fairly well known for having comprehensive data on. In fact they wrote a book about it. Interestingly they are not aggressively short the homebuilders at this point as valuations have come down from earlier in the year.
Prior to the recent foreclosure-gate T2 held JP Morgan tarp warrants and some Citibank but have disposed of those positions after gaining an understanding of the exposure these banks have to mortgage putbacks.
To listen to what is always interesting commentary please click on the link below.