A top fund manager doubts Elon Musk, Andrew Forrest

Source: afr.com afr.com

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Tesla shares have halved over the past year and Musk has expressed exasperation at short selling, which he says is used by “bad people on Wall Street to steal money from small investors”. Farlow says short-selling is used to deliver positive returns when markets fall and protect against sudden drops in share prices. “We want to be very careful of protecting against downside risks,” the fund manager says. “We’re not an ESG (environmental, social and governance) or low-carbon fund. Our primary focus is to make money.” No to Twiggy Fortescue Metals Group, which has led business investment in Australian renewable...