Whitney Tilson August Shareholder Letter

From Whitney Tilson: September 1, 2011 Dear Partner, Our fund declined 13.7% in August vs. -5.4% for the S&P 500, -4.0% for the Dow and -6.4% for the Nasdaq. Year to date, it’s down 22.1% vs. -1.8% for the S&P 500, +2.1% for the Dow and -2.2% for the Nasdaq. On the long side, our portfolio got clobbered across the board despite generally good company-specific news regarding our major...