Ultra-wealthy Obama supporter Whitney Tilson had a rough month. His T2 Partners hedge fund, which manages more than $260 million, posted a 13.6 percent loss in May, underperforming the major indexes.
“Our fund fell 13.6% in May vs. -6.0% for the S&P 500, -5.9% for the Dow and -7.1% for the Nasdaq,” Tilson wrote a letter to investors. “It was an ugly month — our second-worst ever.”
One of the few “winners” in Tilson’s portfolio was his short position in First Solar, a company on the brink of collapse despite receiving more than $3 billion in federal loan guarantees from the Obama administration.