Sculpin,

Well the fact is, he called it right!

Regardless of whatever value is in Tesoro, he called it right at the time!

His position will be closed now, he's made his money and moved on.

He's actually a really clever guy, and has been making money in the markets for a long time.

He identifies overvalued situations, and waits for buyer exhaustion , which is where SLI was at the time of the article!

He wasn't saying there is no value in Tesoro, just that when he published the article SLI could not justify their valuation on what was known at the time!