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Excerpted from Stanphyl Capital’s October 2020 letter to investors, discussing that there is no China growth story for Tesla.Q3 2020 hedge fund letters, conferences and moreWe remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which currently has a fully diluted market cap of approximately $429 billion, which is nearly 90% of those of Toyota, VW, GM, Daimler, BMW and Ford combined despite unprofitably selling fewer than 500,000 cars a year to their nearly 40 million. The core points of our Tesla short thesis are:Tesla has no “moat” of any kind; i.e., nothing mea…
