A growing star in the small world of fund managers, David Giroux, has some harsh words for the current stock market and Tesla’s stock in particular.
He said he would not touch Tesla’s stock even if it dropped 90%.
Over the last few years, Giroux has become a prominent figure in the world of conservative investors.
His fund, T. Rowe Price Capital Appreciation, has an 11.9% annualized return – beating the S&P and litereally 99% of its competitors.
The success has led T. Rowe to give Giroux three more funds to manage recently.
In a roundtable with Barons, the portfolio manager warned about overvalued stocks and Tesla was at the top of his list:
“Tesla could fall 90% tomorrow, and I wouldn’t buy a share, because it’s just crazy overvalued Palantir, I wouldn’t buy a share—crazy overvalued. Costco Wholesale —[at a price of] 49 times…
