This Tesla bear who made a profit betting against Musk in 2019 is done shorting the stock; here’s why (In-Depth)

Aristides Fund LP declined 3.17% in January, while Aristides Fund QP, LP lost 3.29%. The two funds subtracted about 321 basis points of net alpha during the month mostly due to Tesla stock.

In his January letter to investors, which was reviewed by ValueWalk, Managing Member Christopher Brown described the funds' January performance as "very disappointing" as "the worst-ever month in our 138-month history" in alpha terms. He added that such months are expected sometimes "in any fund not run by Bernie Madoff," but that doesn't mean they don't hurt. He also said the good thing is that it was obvious to him why what they did in January didn't work.