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Hi Reader, here's what you need to know for March 30th in 3:10 minutes.

💸 Everyone likes getting cash – but with interest rates super-high right now, folks aren’t sure whether to keep that money in the bank or invest it instead. So join Raisin’s Kevin Mountford for Should You Save Your Cash Or Invest? on April 13th, and find out whether or not cash is king. Get your free ticket

Today's big stories

Tesla started the price war, but it's getting beaten at its own game
Morgan Stanley named its top stock picks for the coming years – Read Now
Micron predicted a brighter future, but profit looks pretty gloomy in the meantime

Electric Chargeback

What’s Going On Here?

Tesla started a price war it couldn’t win in the world’s biggest car market – and it seems to have backfired big time.

What Does This Mean?

Tesla thought it found the key to unlock China's massive car market by initiating a price-slashing spree in the EV realm. But instead of revving up sales, the "nuclear" strategy sparked an industry-wide price war that seems to have backfired for the electric trailblazer. See, Chinese EV enthusiasts have been switching gears and choosing Warren-Buffett-backed BYD's sleek, wallet-friendly rides over Tesla's pricier stallions. That’s seen BYD sell a jaw-dropping five times more cars than Tesla in China in January and February. And with the Chinese firm’s first-quarter sales predicted to jump by 80% – after a profit boost of over 400% in 2022 – Tesla could be in for even more high-voltage competition.

Why Should I Care?

The bigger picture: Buying local.
One way that BYD keeps prices so low and tempting is through its well-oiled supply chain, from mines to batteries and chips. And it's not just BYD: Chinese customers have been taking note of foreign brands' hefty price tags compared to local carmakers across the board, leading them to embrace homegrown offerings. That could be why one clued-in consultancy thinks 2023 will be the year that local brands finally overtake their foreign counterparts in China.

Zooming out: Pedal to the metal.
Tesla might want to rev up sales in the Chinese car market, but it’s trying to reverse its dependence on the country’s supply chains. See, China mines two-thirds of the world’s rare earth metals, and they’re prone to wild price swings (due in part to their vulnerability to trade tussles with the West). But Elon's EV empire isn't spinning its wheels: Tesla's already trimmed its use of rare earths by a quarter in Model 3 and Model Y cars, and upcoming models are said to be even leaner on those precious resources.

You might also like: Is Tesla’s stock actually a little too low at this price?

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Analyst Take

Morgan Stanley Says Buy These Stocks For A New Bull Market

By Paul Allison, Analyst

If you invest in “quality” stocks, you’re probably always on the lookout for companies that generate a lot of profit relative to the size of their assets – and do that in a sustainable, expanding way.

Luckily, researchers at Morgan Stanley may have just made your hunt a little easier – with their “30 for 2025” stocks list.

They devised an 11-point checklist based on the kinds of characteristics that traditional quality investors watch for – and they scored 30 quality-oriented companies against each.

And the ones that ranked highest are probably not the ones you might think.

That’s today’s Insight: a look at the surprising top three companies in Morgan Stanley’s “30 for 2025” stock list.

Read or listen to the Insight here

The Coachella of finance

Coachella could guarantee some Instagram likes, but it won’t teach you anything about investing.

That doesn’t sound like a good time at all, if you ask us. But instead, you could swap the desert for the comfort of your own couch by joining Real Vision’s 2023 Festival Of Learning.

There, you’ll meet thousands of like-minded attendees online, and get access to live masterclasses from world-class investors and thinkers.

Sure, you won’t catch Beyoncé, but you’ll mingle with financial rock stars like Raoul Pal, Tom Bilyeu, Denise Shull, Mish Schneider, Jim O’Shaughnessy, and many more.

You won’t need to fork out $400 for tickets, either: you can register for the Festival Of Learning for free. Just remember your cowboy boots and polaroid cameras.

Check It Out