Well, he has made billions of dollars of profits for his investors ($45 billion of assets under management and $5 billion personal net worth). He must be doing something right, and they'll continue to give him money because of his track record.
This makes sense. If somebody previously did something right that means they are presently doing something right. For this reason the stock tanking is good in the same way that the stock going up was also good
"Track record" often looks a lot better because a fund manager got lucky early on, and number goes up. But they were not managing a big fund then. So then they get lots of investors and at the same time regression to the mean happens.
It's way worst than that. Manages billions of dollars and watch this interview for how he does due diligence on FSD...Goes to spend one half day at Tesla, and is driven around on a Tesla with FSD...
I pity his investors, but they are all probably pension funds.
There is also something super interesting on the statement, apparently made by the Tesla driving team to him, if his quote is correct, on how the first 11 versions had "every possible situation hardcoded" but now is different....
I didn’t say he’s the best investor. I explained that he has made profits in the past, and that’s why people keep giving him money hoping that he’ll continue to do so in the future.
Investment is a risk after all. Besides, there’s also something off-putting about snarky HN comments trying to judge someone’s whole skill set and character by only one angle.
I almost wanted to say “If he’s so dumb and you’re so smart, why don’t you go raise billions and profit like him,” but I won’t because I recognize that things are more complex.
