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Kase's Whitney Tilson Says Spirit Airlines Is His Top Long Bet

Kase Capital Management founder Whitney Tilson said his top long wager is Spirit Airlines Inc., the no-frills carrier that charges fees for almost everything including water.

The airline’s growth potential and the fact it trades at eight times earnings makes it a good investment, even as its shares have tumbled this year, the hedge-fund manager said.

“The stock’s gotten hammered,” Tilson, 49, said Monday in an interview with Bloomberg Television’s Stephanie Ruhle. “A lot of customers like to criticize it because they really pack people onto the planes, the seats don’t recline. But it’s been growing north of 20 percent a year, it has the highest margins in the airline...