Is Empire Financial Research Legit? [Unbiased Reviews]

Looking for Empire Financial Research reviews?

Launched in 2019, the fresh-faced publisher started by Whitney Tilson is meant to provide you with contrarian investment opportunities that have been overlooked by Wall Street investors.

I decided to take a closer look at it to see how it is performing and determine whether it is fulfilling its objective. I put together this review to share my findings.

Keep reading below to get all the info.

Before I start…

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Empire Financial Research Review

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Introduction to Empire Financial Research

Empire Financial Research was launched in 2019 by Whitney Tilson.

He started it to give investors advice, commentary, research, and analysis to enable them to become better stock market investors. One of his presentations I recently wrote about is TaaS.

Empire Financial Research is also the sister company to InvestorPlace.

Empire Financial Research review

Tilson and his team of analysts look for investment opportunities that stock market analysts overlook.

In that sense, they are contrarians who aren’t afraid to make bold calls involving investments that have a high upside. I can liken it to The Oxford Club.

What is a Contrarian investor?

In keeping with their contrarian approach, rather than encourage their readers to buy and hold (although they still offer buy-and-hold advice), they deal with less conventional strategies like value investing and short-selling.

They also major in macroeconomic analysis to identify trends that other investors haven’t picked up on.

For the short time that they have been around, Whitney claims that they have already made a positive impression in the newsletter industry, so much so that they count some famous names on Wall Street among their subscribers.

Well Known Investors

This includes people like Leon Cooperman, Bill Ackman, Joel Greenblatt, just to name a few who subscribe to the likes of Empire Stock Investor and others.

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Who is behind Empire Financial Research?

Whitney Tilson

Whitney Tilson’s the founder of the company. He is also the CEO. He is the leading editor of the flagship newsletter, Empire Stock Investor. He also runs the Empire Investment Report which is published on the third Wednesday of every month.

Empire Stock Investor is currently the most popular newsletter that is offered by the publisher.

whitney tilson

He graduated from Harvard College with a degree in Government then got his MBA from Harvard Business School and was named a Baker Scholar.

In between his undergrad and graduate studies, he spent two years consulting for Boston Consulting Group.

He founded and ran Kase Capital Management until winding it down in 2017 to focus on his investment research service and sharing investment ideas including his stock recommendations.

Whitney Tilson’s Books:

  • The Art of Value Investing: How the World’s Best Investors Beat the Market
  • More Mortgage Meltdown: 6 Ways to Profit in These Bad Times

He also contributed to the writing of Charlie Munger’s Poor Charlie’s Almanack. Charlie is the vice chairman of Berkshire Hathaway.

He has written op-eds for The Motley Fool, Forbes, Kiplinger’s,, and The Financial Times and has been featured on The Washington Post and Wall Street Journal.

He has made appearances as a commentator on Fox Business Network, CNBC, and Bloomberg TV and spoken at numerous top business schools.

Tilson has a good track record, having predicted the dot com crash in the 90s and has been very vocal about Elon Musk and Tesla advising against shorting the stock. He even recently pitched an investment opportunity known as TaaS.

He edits numerous newsletters and sends out Whitney Tilson’s daily newsletter email sharing his investment recommendations and insights on companies and all things to do with the stock market.

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Enrique Abeyta

Enrique Abeyta graduated from Wharton School of Business cum laude. He was a founding member of the Wharton Fellows Fund, an investment fund for students. He was also the head researcher of the Pennsylvania Investment Alliance, an investment club run by students.

Enrique Abeyta

After graduating, he worked on Wall Street for more than 20 years. While there, he was a hedge fund manager. He co-founded Stadia Capital, which grew its assets under management (AUM) to more than $1.7 billion and founded 360 Global Capital that grew its AUM (assets) to $260 million.

He is best known for outperforming the S&P 500 index for a decade straight, generating positive returns for his clients even during the two bear markets in 2000 and 2008.

He co-founded Project M Group in 2017. It is a digital media company that runs and acquires other digital media properties like Revolver Magazine.

He joined Empire Financial Research in 2019. He edits Empire Elite Trader.

Steve Culbertson

Steve Culbertson is a senior analyst who joined Empire Financial Research in 2019. He edits the Empire Investment Report.

Steve has more than 15 years’ experience in the finance industry.

Before he joined the publisher, he was a senior analyst at a family office based in New York called Montcalm Partners.

He was in charge of the equity investing division that sourced new investment ideas, researched stocks, and managed portfolio positions.

Before he worked for Montcalm Partners, he was an analyst at Spencer Capital, a hedge fund based in New York that specializes in value investing.

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Products offered via Empire Financial Research

Empire Elite Growth

This service is offered by Enrique Abeyta. It is focused on long-term investments and uses a buy and hold strategy that targets stocks within the small- to mid-cap range.

Every month, Enrique reveals his top investment recommendation. The model portfolio has 10 to 15 stocks on average. They are stocks that are likely to deliver higher-than-average returns.

Empire Elite Trader

Empire Elite Trader is also edited by Enrique Abeyta. Unlike Empire Elite Growth that focuses on long-term stocks, this one deals with short-term investments that tend to be within the mid-cap to the large-cap range.

Since Enrique encourages his readers to hold positions for a short period, a few days to a few months, he issues weekly updates.

The model portfolio usually has no more than 20 stocks. He focuses on quick gains that are not necessarily large because of the fast-paced nature of the service.

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Empire Investment Report

It is run by Whitney Tilson with the help of Steve Culbertson (who serves as the senior analyst).

The goal of this newsletter is to beat the broader market while mitigating risks.

The model portfolio consists of stocks in the small- to mid-cap range, some of which you may have never heard of before. Updates are issued monthly and positions are held for two to three years.

Empire Stock Investor

Empire Stock Investor is the flagship newsletter offered by Empire Financial Research.

Empire Stock Investor is run by Whitney Tilson, Steve Culbertson, and Enrique Abeyta.

They bring more than 50 years’ experience to the table to recommend the best stocks that their readers can own to safely grow their wealth.

Empire Stock Investor focuses on large, stable companies although they occasionally dabble in growth stocks with massive upside potential.

Whilst I won’t share all the details on them here since I already put a full review together let me quote my own Empire Stock Investor review below to share more info,

These investment openings are usually stable US-listed companies. A vast majority of Empire Stock Investor recommendations are large-cap stocks. However, Whitney Tilson and Enrique Abeyta acknowledge that their recommendations vary based on the market.

My review then goes on to talk about how they like growth stocks also;

Sometimes, they may suggest you invest in a value stock. Other times, you may get notifications to invest your money in growth stocks for a multi-bagger potential return.

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Is Empire Financial Research Legit?

The short answer is yes.

It is still a relatively new company that was founded in 2019; however, it is run by money managers and experienced traders with decades of combined experience in the world of finance and investments.

Whitney Tilson, for instance, started a hedge fund from his bedroom and helped it morph into a large entity that had AUM (assets under management) worth $200 million during its peak.

Enrique Abeyta has spent more than 20 years starting and running hedge funds.

Whitney has even been featured on renowned publications like The Washington Post and Wall Street Journal.

WSJ logo

So yes it is safe to say Tilson and his team know what they are talking about. Whether you opt for the Empire Stock Investor, one of the other newsletters or even just the free information they share you can rest assured you are getting valuable knowledge.

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  • It is run by experienced analysts with years of money management and research services under their belts.
  • With each of the newsletters taking a different approach, the content provides you with the kind of diversity that you need to maintain a diversified portfolio.
  • With different-flavored ideas, their newsletters have something for everyone. For instance, there are both short-term and long-term investment strategies for wealth creation.
  • Most of their recommendations are what a majority of Wall Street investors overlook. Most of those investments have high upside potential as they are about up and coming technologies that can have an impact on the world or solve a major issue.
  • Reviews are generally positive


  • Since Whitney and other team members focus on contrarian investments with a high upside, the risks are also higher with these recommendations. Some technologies are still in their infancy so whilst they could have a big impact on the world the companies still carry higher risks.

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Empire Financial Research Verdict

It is important to note that the services offered in the name of Empire Financial Research are run by experienced traders and former hedge fund managers with impressive track records in the market.

For example, Enrique outperformed the S&P 500 benchmark for ten years straight generating alpha even during periods of economic turmoil i.e. the 2008 Financial Crisis and the Dot Com Bubble.

That’s reassuring if you are to get a membership to its services because you get the impression that you are listening to people who know what they are saying having a history of doing very well in the markets themselves.

That being said, you should always remember that Empire Financial Research experts do not offer personalized advice because they are not authorized to do so, plus they are a business that exists to make money from selling newsletters, let’s not forget that.

They are technically not advisors or brokers and can, therefore, not help you with questions about certain stocks.

They function like journalists in that they discuss investment opportunities to alert you about them rather than indicate that those are the investments you should add to your portfolio.

That being said the track record of their services is good. Tilson has correctly predicted many moves in the market and reviews of services like the Empire Stock Investor are mostly positive.

This is a sign that membership could be worth the investment.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

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(This is a 100% free training)

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