Porter and Whitney Come Together To Announce the Biggest Prediction in 20 years.
Porter Stansberry, a famous American financial publisher and founder of Porter Stansberry Research, who predicted the collapse of General Motors, Fannie Mae, and more, joined hands with Whitney Tilson, a former hedge fund manager announce effective strategies to make a lot of money in the financial market.
Whitney Tilson, a Harvard graduate, has been in the financial market for a long time now and has made his mark from a hedge fund of $1 million to a whopping $200 million. He has appeared in several TV shows, including 60 minutes, been interviewed by influential journals like The New York Times, Wall Street Journal, Yahoo Finance, CNN, and more. He made several surprising predictions with such accuracy throughout his career that CNBC gave him "The Prophet." He also warned the people about the bubble in 3D printing stocks, bitcoin, and marijuana stocks and called the bottom market on live TV in 2008.
In this meet with Porter Stansberry, he shared his secrets on how he went from a Harvard Business graduate with no experience and money to a renowned name in American finance, meeting former president Barack Obama and investor Warren Buffet.
Now he introduced his latest warning Empire Financial Research, in which he will mentor investors to make better financial decisions. Whitney talked about his prediction for Tesla, saying that Tesla's stock which closed around $268, would be trading below $100 by the end of 2019.
People learned the following through the interview:
Whitney's latest prediction- How he comes up with ideas that could increase your profit, and how, if you want to start something new, it could help you generate a massive gain in the current year and the years to come.
How he acquired Apple for $1.50, Amazon for $56, JetBlue before it rose 3X, McDonald before it rose 5X, and SodaStream before it rose 12X, etc.
The name and ticker symbol of "#1 retirement stock in America" you should have.
He further talks about Tesla, saying that "the company's fundamentals are terrible. Demand is weak, inventories are piling up, and investors are finally starting to lose confidence in Musk." According to him, it delivered 63,000 vehicles in the first quarter of 2019, which is much lower than Wall Street's prediction of 76,000. The number showed a whopping drop of 31% compared to the previous quarter.
Whitney talks about how dangerous it is too short open-ended growth stories depending solely on fundamentals. Tesla's revenue has increased roughly 200-fold in the past decade, and its followers buy on every collapse. However, if the growth sinks but the price is not registered into the stock, it can be beneficial to short the story stock.
According to Whitney, Tesla has a market cap of $46 billion, almost equal to General Motors, but the stock is still "priced for perfection." Its sales plummeted in the year 2018, and the company closed stores, reduced its prices, fired several employees, and almost declared war on the U.S Securities and Exchange Commission.
In recent years, the company had the entire electric-vehicle market to itself, contributing to its phenomenal growth. As a result, Musk and his ardent supporters greatly misrepresented the genuine demand. Whitney also mentioned some examples and hosts who brought Tesla to the spotlight and made it question some insane things in the company. According to Whitney, Tesla has faced numerous crises due to the massive demand for their card, but their luck has run out.
Whitney and Porter participated in the interview on the 17th of April, 2019, where Whitney shared his most significant investment prediction in 20 years. You can read snippets of that interview online.