REUTERS/Mike Segar
Tilson said that he has two strong and conflicting feelings about shorting right now.
First, it's been a painful business recently.
"It's a horrible business, it's cost me (and my investors) a fortune over the past 4 1/2 years, I wish I'd never heard of it, and every bone in my body wants to cover every stock I'm short and never short another stock again."
Then again, there are obvious opportunities.
"In my 15-year career of professional investing, the only other times that have been as target-rich in terms of juicy, obvious shorts are late 1999/early 2000 and late 2007/early 2008 (and we all know how those ended...)."
Tilson said he can't bring himself today to cover his shorts. He said covering them would be the "most boneheaded capitulation trade of all time."
His presentation also