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in my professional life I was starting off in a trading room of Deutsche Bank in Paris and they thought I was good enough to become first an assistant fund manager and then a fund manager so in those six years that followed I was in charge of managing mutual funds because ETFs weren't available then and including the biggest European mutual funds and those got rated by Moody's that's how Moody's got to know me and that's how they heard me and so the whole story continued from that so I have a good understanding what mutual funds are and obviously followed the industry when they started ETFs and I'm not a big believer in ETFs most ETFs just track an index have relatively low costs um but have the whole voting power behind those ETFs so I think this was actually strategically a mistake it worked on people's greed because nobody wants to pay a lot of management fees but people don't understand by paying little fees they become the product it's actually their voting rights on all these shares that they're giving away but that's another story so when I started looking into Tesla I wanted to find out who the big veils were that were invested in Tesla and interesting enough 95% of ETFs either don't invest in Tesla at all or indexed on a certain index that has Tesla and they're doing just barely that not over allocation not whatsoever so I was hunting for funds that had a bigger allocation in Tesla and obviously came to the ark funds in 2020 and so I started following those Arc funds and then daily from 2021 onwards February 2021 which was an interesting period because I was in the period where they had to decrease a lot of their Tesla shares not of the allocation itself but the number of shares fell consequently a lot and um started with it the arc funds then Ross Gerber put out his GK fund I think it was in August 2021 and he straight away had one of the prominent positions in the first three of Tesla and then um Gary black did the same vcar came to it and then more recently uh meet real Kevin is it meet real Kevin or real meat Kevin whatever it is is PP fund and yall one of those more right leaning political funds so those are the adfs I follow why because they are not index tracking they are actively managed and have decided that Tesla is at least in one of their five positions for some of them number one for a long time so I track them daily because ETFs give daily insight and I track them to understand what these fund managers do because they're sitting on a lot of money I mean in in Ross Gerber's case it's about two billion that he has on the management from his clients and in his funds The Arc funds are above 10 billion so it's important for me to see what these people do to extrapolate what the rest of the industry does and it also keeps me on my toes to watch all these other funds who don't invest in Tesla hoping that one day they may right or at least overweigh them compar to what they doing so that's the the knowledge I bring to my clients I do these tables I don't know whether lots of people understand them and follow them but it gives me the occasion to really be there on a daily basis check it and when something really important comes about it make enough noise about it so that people know about it

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