Jun Hao Tay On Tesla: Good Business, Bad Stock

Jun Hao Tay On Tesla: Good Business, Bad Stock

Lessons From A Value Investor: A Meeting With Jun Hao Tay by Anton F. Balint

[klarman]

A few days ago I had the pleasure and the opportunity to meet with Jun Hao Tay, a successful, kind and down to earth value investor that runs his own fund. We discussed a variety of topics: from oil prices and new industries to Tesla’s valuation and financial statement’s ‘bizarre’ numbers. Below follows a summary of the most important lessons I took from my meeting with Tay.

1. There is no single way to invest

This was not necessarily new information to me as I was aware that investment is a profession that results in...