Kase Capital’s Whitney Tilson, in 1Q letter dated April 3 obtained by Bloomberg, said the fund fell 3% in March and is down 4% year to date vs S&P 500 up 6.1%.
* Tilson says he is not willing to suspend his valuation principles and chase performance, "which is what he believes a lot of human beings, index funds, and high-powered supercomputers are doing"
* Adds that the fund is "very cash-rich" at 57% long and well hedged, with 19% short exposure
* MDLZ: More likely that Kraft Heinz will bid for Mondelez, which would welcome being acquired, unlike Unilever.
* GSEs: Expects shares of Fannie Mae and Freddie Mac to surge 4x-10x if the Trump administration struck a deal to liberate the companies from government control.
* CSX: Sees 50%-100% gain over the next 18-36 months.
Source: Bloomberg
Junior Trader Stefan Panteleev
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