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Thank you, Eric, for pointing out how many stocks are doing so well for us! Interestingly, no one said anything on Twitter last year when $TSLA was up roughly 50% from its low and 25% in the fourth quarter. #Tesla was a great diversifier when other stocks were getting crushed.
$TSLA during the past five years reminds me of $AMZN from 2004-2009. Investors/speculators laughed at worst or were baffled as we bought the stock when it tanked into the 20’s and 30’s in a 25-120 trading range. Trading recently at $2,000, #Amazon is one of my best stocks ever.
Now that its success is obvious in hindsight, most sell-side analysts remember that I bucked conventional wisdom and applauded the fact that Amazon was investing aggressively to capitalize on the inevitable shift to e-commerce and #AWS, at the expense of short-term profits.
Centered on Wright’s Law, our first principles research is the reason for my conviction that $TSLA is as profound an investment opportunity today as was $AMZN 10-15 years ago.
Led by our DoR, @wintonARK, our analysts - @TashaARK, @skorusARK, and @jwangARK - are contributing important research to the investment community. Our $TSLA model and assumptions are on GitHub. We are grateful for the contributions others are making to make it more robust.
As the record shows,$TSLA has contributed positively to the performance of our strategies since inception. Importantly, we have traded it aggressively in the 141-387 trading range in place since our inception in 2004, while maintaining it as our first or second largest position.
Interestingly, on Friday $TSLA hit its 100 month moving average, roughly the same place that $AMZN hit before beginning its eight year climb from 35 to 2000. Perhaps the HFTs and algorithms that dominate trading these days will take note. We shall see.
