Hello, friends. Today I am excited to share with you my conversation with Phil Rosen — a high profile Tesla shareholder who has recently run for a seat on the board of Elon Musk's business.
Please let me know if you would like to suggest someone for me to interview on Twitter at @philrosenn or by emailing me at prosen@insider.com.
Sign up here if you received this email. Here you can download Insider's App.
[TAG0][TAG2]
Ross Gerber, cofounder and CEO at Gerber Kawasaki Wealth and Investment Management holds 420,000 Tesla shares, which is about $74m based on Tesla’s current stock value. This conversation was lightly edited to ensure clarity and length.
Phil Rosen: What did you think of Musk's performance at the annual shareholders meeting this week?
Ross Gerber :Elon got his mojo back. You can tell he is happy by his enthusiasm and energy, and being with the people he loves and who love him.
He started out with a business plan that included a $25,000 car and a self-driving Cybertruck. Then he gave sloppy interviews to mainstream media.
The best day of PR for Tesla since the Twitter debacle began.
Musk named a new Twitter CEO on May 12 – just days before the annual shareholder meeting. What impact did these two events have on your view of the stock?
RG You must own Tesla in your portfolio, with Elon refocusing on Tesla.
In the first quarter, I was a net buyer. I sold 440,000 shares and now have 420,000.
I changed my opinion from being somewhat bearish to somewhat bullish. The broader economy is the only thing that keeps me from being outright bullish.
What is the next step you would like to see an EV company take to reach the next level of development?
RGIt all comes down to quality and service. Tesla needs to hire a quality and customer service czar, whose role is to ensure that customers have a positive experience.
Tesla must understand that it has millions of users and someone needs to be responsible for the user experience – not just updating the software. Tesla is very good at the technical side but needs to improve their customer service.
Read the full interview with the top Tesla Investor and Money Manager.
What do you make of Gerber's view on Tesla? Tell me what you think.
And here are the top stories from markets this week:
[TAG1][TAG3]
1. Ray Dalio believes that politicians will avoid defaulting, but any deal they strike will be bad for the future. The billionaire believes that any decision made by legislators will not be the best long-term option. The billionaire warned that raising the debt limit repeatedly will "eventually result in a devastating financial collapse."
2. Whistleblowers claimed that the investment arm of Mormon Church operated like "a clandestine hedge fund." The Church of Jesus Christ of Latter-day Saints owns a portfolio worth over $100 billion. This includes $46.2 billion in stocks. The top 10 holdings are listed below.
3. The investment manager is responsible for $100 billion. He claimed that the stock market rally doesn't reflect the true state of the economy. He likes these three areas of the market for both the short and long term.
4. RH shares plunged after Warren Buffett and Berkshire Hathaway sold their entire stake. Conglomerate began to increase its stake in the third quarter, and at last it was worth $575 million. RH shares have fallen 67% since their high post-pandemic, but Buffett likely still made money on his bet.
5. Taylor Swift's financial savvy was demonstrated when she avoided an agreement with the failed crypto exchange, FTX. According to Boaz Winestein, the popstar invests in a specific type of mutual funds: "For many different reasons, it is hard to not be a Swifty."
6. Michael Burry, the "Big Short", invested in First Republic, PacWest and other bank stocks that were struggling last quarter. Scion Asset Management has more than doubled its dollar value to $107,000,000 to begin the year. Full details.
7. Steve Cohen, billionaire hedge fund manager, told investors that they should stop worrying about recession odds and instead ride the "big waves" of AI. He said that you could miss out on opportunities if your focus is on potential downside. Bloomberg reported: "I am actually quite bullish."
8. The top fund manager of large-cap stocks from the last 12 months has shared his current 13 favourite stocks. He explains his entire list and the single change that has completely transformed his portfolio performance.
9. Meet the money manager for an award-winning fund of credit that has tripled benchmarks since 2014. Sam Reid, of River Canyon Total Return Bond Fund, shared his strategies for selecting winners in today's landscape. He also discussed what he is watching in the credit markets.
10. The US consumer's strength is under threat as 43 million students are about to resume their student loan payments. Bank of America strategists said that millions of Americans may start paying up to $400 a month in the second half of this year. This could mean that shareholders of companies such as Discover and SoFi would be winners.
Curated by Phil Rosen in New York. Feedback or tips? Tweet
@philrosenn
or email
prosen@insider.com
Max Adams in New York ( @maxradams ) is the editor of this .
—————————————————————————————————————————————
By: prosen@insider.com (Phil Rosen)
Title: This investor holds $74 million in Tesla stock. Here’s why he’s bullish on the future of Elon Musk’s EV company.
Sourced From: www.businessinsider.com/tesla-stock-elon-musk-ross-gerber-stock-twitter-bullish-investor-2023-5
Published Date: Sat, 20 May 2023 10:45:00 +0000
Related posts:
Cathie Wood and ARK Invest snatched up $88 Million in Tesla stock during the 4th quarter of the famous money manager’s dip-buying spree
Tesla stock drops to start 2023, as the EV maker’s vehicle delivery forecasts are not met
Top Tesla investor is feeling remorse for selling his stock and believes Elon Musk has ‘killed’ the EV business with stock sales
Tesla stock is experiencing its worst decline since the company first went public.
Leave a Reply