Whitney Tilson Gets Caught Yet Again With His Pants Down
What a day yesterday was! The new phone books arrived, I, with other education bloggers, got to engage in a video conference with Diane Ravitch, and I found out that not only had Whitney Tilson finally make some sense, but he confirmed that he is in education for the moolah and lying hypocrite as well.So Whitney, in a obvious display making up for some Freudian shortcoming shows just how smart
and investor he thinks he is. Remember, this is the guy who shorted Netflix.
I know the company and the space well (K12’s primary business is running online charter schools in 33 states and DC), and it’s a VERY high conviction short (meaning the funds I manage will profit if the stock price declines). I think that the company has run amok in many, many ways, inappropriately targeting the most at-risk students, with dismal academic results, off-the-charts student turnover, coming under increasing scrutiny. K12 reminds me of the subprime mortgage lenders and for-profit colleges when they were flying