The Evil Diaries: Tesla and Orsu

As it happens, I came to know Sir Anthony Montague-Browne some thirty years ago and lunched with him both in St James and at his then home near Newbury. He was affable and, more to the point, witty and intelligent. A few years later he published his autobiography, Long Sunset (now 1p on Amazon and a good long read describing, inter alia, his time with Churchill). He was also a war hero.

However, the BBC deputed its religious affairs correspondent to cover last week’s disclosures. Religious indeed? I’d say the affair had little to do with religion and quite a lot to do with something else.

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Mary Cameron’s paying her son £200,000 saves her estate £80,000 tax. It is not her son’s saving. But you would not think so to judge by the cretinous journos spouting in recent days.

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Tesla (NASDAQ:TSLA) has taken orders for c. 375,000 Model 3 cars. This is at $1,000 a time which is refundable. That is the sort of order book that can evaporate. Further, a walloping $3.5bn is probably required to finance the production line and the production. On top of which, Tesla might not make a profit at the same time as the likes of GM, BMW and Nissan will be bringing out their own electric vehicles. All in all, the current share price of $250, which capitalises TSLA at $33bn, is insane.

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Finally, little Orsu (OSU) is to bank perhaps $10m or £7m on the sale of Karchiga, delist from AIM and leave the quote in Toronto. At 2p it is capitalised at £3.2m. That seems cheap to me.