Stanphyl Capital’s managing member and portfolio manager Mark Spiegel joined CNBC’s “Closing Bell” on Monday to explain why he is short Tesla and why he says Elon Musk has deceived investors. “Tesla has absolutely nothing sustainable propriety and yet it’s losing a massive amount of money with zero direct long-range electric car competition. Starting in just a few months and into 2018 it’s going to be swarmed with long-range electric car competition,” Spiegel explained. “Elon Musk is the most deceptive CEO I’ve ever seen. You can compare what he says and what he claims to what is happening, and if anybody studied that stuff, he would have no credibility. Now, the one credible thing he has said is he doesn’t care if Tesla stays in business as long as he can electrify the world of cars. That’s very nice of him, but that’s not a company to invest in,” Spiegel concluded.
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