Tesla under pressure
Tesla, the company started by Elon Musk, is facing greater competition from more prosperous rivals, analysts warn. This week, Morgan Stanley dropped its "buy" rating on Tesla, warning the company will burn through US$3.1bn of cash this year — more than the expected $2.3bn. Though Tesla’s stock has gained 52% this year, it dropped on news of the downgrade. Bloomberg
Hedge fund bosses coin it
Institutional Investor’s Alpha annual "Rich List of the World’s Top Earning Hedge Fund Managers" came out this week, headed by Renaissance Technologies’ James Simons. Simons made $1.6bn, even though he retired in 2010.
However, this "pay" includes the money that hedge fund managers make on their own capital which is invested in their funds. This means the rankings are more of a gauge of return-on-capital.
Overall, "pay" for hedge fund managers is down, in line with performance being down. Bloomberg