THE TROUBLE WITH TESLA'S ECONOMICS

On the valuation of Tesla, and a bit of debate between a long and a short.

Drew's journey, warts & all.

On the legacy of Danny Kahneman

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/485109f3-9118-4d75-a202-58bd2b89da45 In order to make money in the stock market, you have to anticipate fundamental developments that exceed those already implicitly baked into the share price. Despite the stock’s fall from grace, I’m afraid that many Tesla shareholders still don’t understand that. In our view, it is going to take a miracle for Tesla shareholders to avoid more pain.