Seeking Alpha Seeking Alpha Portfolio App for iPad  Whitney
Tilson of hedge fund T2 Partners recently appeared on CNBC and
revealed he is now long BP (BP). This company of course has
dominated headlines for the drastic oil spill in the Gulf of
Mexico. More than anything, this investment is the definition of
being greedy when others are fearful.  Currently, it's very
apparent that the majority of investors are being fearful due to
BP's potential liability associated with the oil spill. Not
Tilson, though. He is zigging while the crowd zags and argues
that this stock is simply "too cheap." While some are
speculating about potential bankruptcy surrounding BP, he notes
that this company earns north of $20 billion a year in profits
and will be able to pay-off spill cleanup and any other
potential liabilities.  BP is currently trading around 5.5x
earnings and paying a 9% dividend yield. Being a value investor,
Tilson obviously is not trying to make a quick trade here given
the headline risk and instead is in it for