Whitney Tilson Gets In Fight Over Wayfair Inc (W)VW Staff
Whitney Tilson’s reply to an email he received from a Wayfair Inc (W) investor? Tilson is short the stock.
I got this email yesterday:
I would respectively appreciate you removing my email address from future contact..I hope you lose not only money but respect over your recent attacks on Wayfair. You may have started out years ago learning from Warren Buffet but he would never stoop to the level you have recently trying to force feed your short position by accusing a really good company of “poisoning” their customers..I know people that work at Wayfair and I am extremely offended by your actions..I was in the brokerage business for 40 years and have been a Berkshire holder for 20 years and this is not what value investing is supposed to look like..I have no idea if Wayfair will go up or down but in the short run many people hope you lose and maybe learn something..I will sign this message.
Whitney Tilson’s reply: Wayfair has stopped selling the toxic products
Here was my reply:
I know Buffett personally and I’m quite certain he’d support me exposing a company that’s selling a dangerous product to unsuspecting American families.
I’ve made it clear that, unlike LL, I don’t think the mgt of Wayfair is knowingly doing so, but their sloppiness in sourcing (and business model, in which they rely on nothing more than assurances from 7,000+ suppliers) have led to them selling toxic products nevertheless.
As a result of my actions, Wayfair has stopped selling the toxic products I’ve identified (both laminate flooring and two items of furniture — so far) and hopefully will implement a proper compliance program to identify other toxic products they might be selling now and make sure this doesn’t happen in the future.
I think it’s wonderful when I can both do my job and do good for the world.
You’re off my list.