Vitaliy Katsenelson is one of my favorite authors of high-quality investment content. This is why I read his research about electric vehicles or EVs and many of his opinion pieces about Tesla some months ago (I believe it was an email-series). Anyway, some days ago I got to know that he offers his book Tesla, Elon Musk and the EV revolution for free for a few days. Beyond question, I read his book!
Why did I read it (again)? I believe, I do not do him wrong, when writing that it was mostly the same content (with some annotations) compared to his research email series. But, I like reading books. Most of us consume many pieces of high and lower quality content about various topics daily. Making use of many different devices. It often feels like an information overload and sometimes it may be difficult to concentrate on a specific piece.
His book gave me the opportunity to read the (same) content in another setting. I consume books differently. Mostly I read books without having any electronic device near me so (I believe) I was more focused this time. Additionally, I know when reading a book I consume content with a much longer shelf-life than most other daily content (noise). Though, when reading Vitaliys content (i.e. on contrarianedge) you can be sure it is always worth it!
The content of the book is what the title pledges to be. It is about EVs in general and Tesla’s cars specifically. It is about Musk and his company (the one producing cars). Furthermore, all this topics are viewed from a reasoned investor’s eye. What makes this book special is the fact, that it does not come to black and white conclusions for all the single aspects. Rather, Vitaliy admits that there are many shades of grey. Especially the question, if Tesla would make for a good investment today, is hard to know — at least for us humble investors who do not knopw the future. Of course, if you do know exactly how the (or Tesla’s) future will unfold, this book has no value for you, since most people (or market participants) are looking for clear answers. I quote one of the investors I hold deerest from The Most Important Thing Illuminated (one of the best books I read so far), emphasis is mine:
»Since the investors of the “I know” school, described in chapter 14, feel it’s possible to know the future, they decide what it will look like, build portfolios designed to maximize returns under that one scenario, and largely disregard the other possibilities. The suboptimizers of the “I don’t know” school, on the other hand, put their emphasis on constructing portfolios that will do well in the scenarios they consider likely and not too poorly in the rest.« – Howard Marks
I hope you enjoyed this short book-review as much as I enjoyed the book.