Finimize - 💥 Tesla's sales crashed

Tesla's year got off to a bad start | European inflation came in closer to the central bank's target |
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Hi Reader, here's what you need to know for April 4th in 3:12 minutes.

☕️ Finimized over a fresh orange juice at Bluebelles of Portobello in London, UK (🌦13°C/56°F)

Today's big stories

  1. Even price cuts weren't enough to stop Tesla's sales from sliding last quarter
  2. What Daniel Kahneman knew about your investing shortcomings – Read Now
  3. European inflation was slower than expected in March, coming within touching distance of the central bank’s target

The Low Road

The Low Road

What’s going on here?

Tesla delivered fewer electric vehicles (EVs) last quarter than the same time the year before, so investors sent the company’s stock on a journey south.

What does this mean?

Tesla handed over high-tech keys to 386,000 vehicles last quarter. Problem is, that’s 8.5% fewer than the same time last year, making the quarter Tesla’s worst for sales since the third quarter of 2022. The wooden spoon awards don’t stop there, though: analysts had expected a figure closer to 449,000, meaning the difference between market predictions and real deliveries was the biggest Tesla’s ever seen. Now, Musk’s brainchild is pinning the blame on production snags, which meant Tesla made around 7,000 fewer vehicles last quarter than the same time last year. But some 433,000 models still left the conveyor belt, so that doesn’t quite cover the gap. Investors certainly weren’t buying it, sending Tesla’s shares down 5% on Tuesday.

Why should I care?

Zooming out: There’s movement on the podium.

Mind you, Tesla was still the biggest-selling EV maker last quarter, reclaiming the crown from BYD. The Chinese rival only delivered 300,000 EVs last quarter, down 42% from the quarter before. That’s a revealing trend: both Tesla and BYD have been slashing their prices to win over customers, so those sliding sales hardly bode well for the market as a whole.

The bigger picture: This dip might be more of a ditch.

Carmakers are forced to compete by bringing their prices lower and lower, especially now that buyers are on a budget – and even then they’re not smashing their sales targets. To make matters worse, tech giants like Huawei and Xiaomi are turning their attention to cars now, crowding the already busy market. EV companies might just have to hope that more drivers go green sooner rather than later, then, especially since they’ve funneled a ton of cash into their factories recently.

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Analyst Take

How Daniel Kahneman’s Genius Can Help You Become A Better Investor

How Daniel Kahneman’s Genius Can Help You Become A Better Investor
Photo of Stéphane Renevier, CFA

Stéphane Renevier, CFA, Analyst

The secret to a successful portfolio might be in making perfectly informed, cool, calculated decisions.

The problem is, investors are human beings, prone to abandon rational thinking and opt for emotional conclusions instead.

Daniel Kahneman understood this better than anyone: a founder of behavioral economics, he could clock every one of your biases and decision-making flubs, before you even made them.

The psychologist-turned-economist and Nobel laureate died last week at age 90, so I want to revisit his very best insights.

That’s today’s Insight: how Daniel Kahneman’s genius can make you a better investor.

Read or listen to the Insight here

"The question isn't who's going to let me, it's who is going to stop me." - Ayn Rand

Women end up with less money and independence, especially as they age.

That not only affects individuals and societies, but economies: women make up half of the population, so if they had more cash to invest, companies and economies would benefit too.

Plus, women tend to invest a bigger portion of their earnings into families and communities than men do, money that can lead to better health, education, and well-being for future generations.

Thankfully, targeted initiatives seem to be working. Recent trends suggest that more women are starting to invest outside of their retirement accounts.

Let’s keep that momentum moving: take a look at our free guide to investing as a woman, in partnership with CFA Institute.

Check Out The Guide

Crew Cut

Crew Cut

What’s going on here?

European inflation was slower than expected in March, meaning the European Central Bank (ECB) could soon give interest rates a trim.

What does this mean?

Inflation was 2.4% lower this March than the same time last year, even better than February’s 2.6% and the 2.5% predicted by analysts. So with inflation within touching distance of the ECB’s 2% target, the market’s prediction of at least three rate cuts this year – starting as early as June – looks like less of a pipedream. Not that it’ll be an easy decision, of course. Cut rates too much or too early, and the ECB risks letting inflation run wild. Cut by too little or too late, and the economy could be run into the ground.

Why should I care?

The bigger picture: Manufacturing has nothing on gelato and escargot.

Europe’s biggest economy, Germany, relies on manufacturing, but the likes of supply chain disruptions and rising energy prices have destabilized the industry. So Italy, Spain, Portugal, and Greece – the four biggest economies in southern Europe – have all outpaced Germany’s economic growth by around 5% since 2017. They’re bigger on tourism, after all, and no macroeconomic circumstances will keep tourists away from the Amalfi Coast. That partly explains why inflation is starting to vary across Europe, making the ECB’s rate-cutting decision even more of a head-scratcher.

For markets: Hope for the best, invest for the worst.

Investors pushed gold’s price to an all-time high on Wednesday, wary of the potential impact of rate cuts and ever-complicating geopolitical tensions. That makes sense: the precious metal can hedge portfolios against inflation, not least because there’s a limited supply of the shiny bricks, a handy trick if rate cuts give prices too much wriggle room. Plus, gold should hold its value even if global currencies wobble. That said, investors will need to pay more for their bars now that the metal’s popularity is peaking.

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💬 Quote of the day

"The only sure weapon against bad ideas is better ideas."

– Alfred Whitney Griswold (an American historian)
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Thump-thump... thump-thump... thump-thump... That's the sound of our latest Modern Investor Pulse. (Just let us have it.)

We asked our million-strong global community how they feel about investing this year. Turns out, they're more optimistic than a lot of the doomsayers on the news.

  • 74% of retail investors think global stock markets will be higher in 12 months.
  • 85% prefer a long-term approach rather than adjusting their investments daily or weekly.
  • 65% are more interested in getting financial advice and information than ever before

Find out where they're investing and why: get the rest of the scoop here.

Check The Pulse

🎯 On Our Radar

1. Billionaires love bunkers. Bezos just bought another apocalypse-proof property.

2. Claustrophobics, look away. The life of a cave diver is for the few, not the many.

3. Kayaking is meant to be relaxing. Instead, it took this woman to the brink of death.

🌍 Finimize Live

🤩 Coming Up Soon...

All events are in UK time.

💪 Building Wealthy Women: Investing in Your Future: 5pm, April 11th
💸 Increase Your Wealth With Blockchain & Bitcoin: 5pm April 24th
💥 A Beginners Guide To Impact Investing: 5pm, May 14th
🤖 How To Leverage AI In Investing: 5pm, June 4th
🚀 2024 Modern Investor Summit: 2pm, December 3rd

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