‘Patriotic Millionaire’ Shorts American-Funded Company

Still posts huge losses on the month

BY:

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.

Tilson is a member of the "Patriotic Millionaires," a group of wealthy Obama supporters backing the president’s effort to raise taxes on high-earners.

Ironically, Tilson is currently profiting (though not enough to make up for his considerable losses) by betting against a company that was propped up by taxpayer dollars.

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