NEW YORK – Speaking with financial reports Dan Lewis, 34, stated, “Tesla’s hidden asset is their accountant’s ability to cook the books.Â I value this asset in excess of $450 billion.”
Dan Lewis is the portfolio manager of First Foundation Technology Partners.Â Dan founded the hedge fund in 2008 and had outperformed the market by a wide margin.
“We invest in undervalued technology companies,” Dan stated.Â “Our largest position is Tesla.”
Dan originally purchased Tesla in 2017 after driving one of their cars.Â “Tesla makes an amazing product,” Dan stated.Â “After I drove a Tesla for the first time I called up my trader and told him to back up the truck.”
First Foundation Technology Partners took a 25% position in Tesla after Dan drove their Model S for the first time.Â But when Dan discovered their hidden asset, he went all in.
“When I realized that Tesla’s hidden asset is their ability to cook the books we went all in with margin.”
And the bet has paid off.Â First Foundation Technology Partners is up over 400% this year and Dan thinks it can go higher.
“The hidden asset of Tesla is their accountant’s ability to cook the books.Â I didn’t realize how big of an asset this was when I first invested.Â But now I realize the value is enormous.Â And could be infinite.”
Dan said he expects Tesla to continue to cook their books which should close the valuation gap.Â In addition, Dan believes Elon Musk will start mining gold from asteroids which should add an additional $5 trillion in incremental value.