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If you’re among the throngs of investors running for the exits after the lousy jobs number , hedge fund manager Whitney Tilson thinks you’ve got it all wrong.A much weaker than expected jobs report spooked the market Friday, after new data said the economy created only 69,000 new jobs. The Street was expecting around 150,000 new jobs.
On the news, the S&P traded down below its 200-day and the Dow traded negative on the year.But Tilson, who is found of T2 Partners and a CNBC Contributor , says don’t take the numbers as a sign the US economy is going off a cliff or into a double dip recession.
“The economy currently has 132 million jobs – even the miss of 100,000 jobs is within a margin of error,” he says. Although he concedes the US economy isn't great, he doesn't think it's terrible either. Tilson believe the US economy muddles along, growing slowly - but growing nonetheless.But that's not the only reason he's hitting the buy button.
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