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“Tesla shares are about as detached from reality as you will ever find in American investing history.”
Although I only own Tesla shares indirectly as part of a fund(s), and I’m actually way more interested in going to Mars than “green” cars that run on coal, I would hope that Musk’s focus would be entirely on Mars.
The other side of the argument is this; In the days of computer driven investment with AI, more accurately called Machine Learning, there is no data point that can’t be known about a company. This leaves us with only so called intangibles and CEOs and Management Teams are the biggest intangible. My point is that ‘everybody’ knows the readily available information about the company. The pros are investing in only one thing, Elon Musk.
Lot’s and lot’s of money has been made by investing solely in Bezos, or Ford, or zuckerface, or Jobs. But way more companies have failed. So investing in a man means hedging and diversifying which the pros are doing with Musk. It’s the same thing they do in the show Shark Tank. Make small bets on the people with the most potential.