If they saw it, the two men who manage the Scottish Mortgage Investment Trust are unlikely to have been bothered much by an article on Tesla published by Bloomberg last month, which counted how much cash the electric carmaker had spent while the piece was being read.
Even this month’s strange conference call, in which Elon Musk, Tesla’s billionaire founder, dismissed analysts’ questions about details of the company’s finances as “boneheaded”, is unlikely to have shaken the “resolute optimism” philosophy through which Scottish Mortgage takes positions that flaunt established market wisdom.
Even the fact that about a quarter of Tesla’s stock is on loan to short-sellers, suggesting that the share price may fall, has elicited merely a shrug from the trust. After all, Tesla is