Tesla's triumph and ESG's progress
In response to an order from Hertz for 100,000 cars, the share price now values Tesla at
$1 trillion. It’s only the sixth such company; after Apple, Microsoft, Saudi Aramco, Amazon and Alphabet. Founded in 2003 and taken public in 2010, Tesla has grown in spite of considerable risks and mockery. I honour its achievements and leadership for changing public perception of electric vehicle technology. Tesla is now the largest holding in the Dexterity portfolio, but at only 1.08% it’ll neither make our fortune, nor sink us if unforeseen disaster were to occur.
I’ve long wanted to enumerate the value of ESG. Here is a snippet: comparing the MSCI World index against its ESG version, and MSCI European index against its ESG version too.
The differences aren’t startling, but (in my opinion) they vanquish a wearisome old taunt 'ethical investing doesn’t pay’.
Here is the usual progress chart of the Dexterity portfolio: