Friday, September 10, 2010

T2 Partners' Whitney Tilson Adding to Bearish Bet Against Interoil (IOC)

The stock is down 19 cents at $60.52.
Last spring I said that this one got my antennae twitching, links below.
From Market Folly:
...Tilson's hedge fund has been positioned conservatively as they see an unfavorable economic outlook. Their letter takes a closer look at their position in Liberty Acquisitions warrants which you can read below. Tilson then confirms that they've added to their bearish bet against InterOil (IOC) after the company reported second quarter earnings. He also goes into detail about his rationale behind this short in the embedded letter below:...MORE, including the 6-page letter to investors.
HT: Clusterstock who highlighted this quote:
"We've never had more conviction and Interoil is currently our largest bearish position."
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