🇨🇭 Short and Suisse

Investment banks warmed to Tesla’s stock | Credit Suisse is headed for another hole | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for November 24th in 3:09 minutes. 🦃 Once you’ve stuffed yourself full of Thanksgiving turkey and candied yams, you can finally start looking forward to the real highlight of your social calendar. Join us for the [Modern Investor Summit]( on December 6th and 7th, and take your investor’s toolkit to the next level. [Grab your free ticket]( Today's big stories - Citigroup and Morgan Stanley changed their minds about Tesla’s stock - A giant hedge fund is taking on crypto after the crisis, and its strategies could help you get stuck in from home – [Read Now]( - Credit Suisse sounded the alarm bells and started gearing up for another loss this quarter. The Price Is Right [The Price Is Right] What’s Going On Here? Analysts at Citigroup and Morgan Stanley [decided]( on Wednesday that Tesla’s shares are a decent deal all of a sudden. What Does This Mean? Investment banks don’t just deal in assets and cash: they also deal in recommendations. See, one of the services these institutions provide pro clients is expert advice on the “fair value” of shares. And to work that out, they get their in-house eggheads to do some deep-dive research, crunch the numbers, and settle on a value that they can compare with the firm’s actual share price. Then they advise clients to buy, sell, or hold the company’s shares depending on the gap between the two. Now Tesla’s slipping share price has prompted Citigroup and Morgan Stanley to change their minds: Citi thinks the stock’s a hold, and Morgan Stanley, a buy. Why Should I Care? For you personally: Bucking the trend. It’s against the rules, but leaned-on analysts can win their firms extra business, like juicy corporate advisory fees, by giving their stock price opinions some added va-va-voom. Stock prices tend to go up too, which means that a rare and often brave “sell” recommendation sticks out like a sore thumb, and is usually backed up by some well-founded opinions. So sure, Citigroup’s view on Tesla has only changed from hate to ambivalence, but a pivot in its gutsy opinion is worth clocking at the very least. The bigger picture: A price for everything. Good companies can be bad stocks, and bad companies can be good stocks. It sounds like a riddle, but Tesla can help us unravel how this conundrum plays out. See, most analysts do think Tesla’s a strong company, corporate culture aside – but some doubted whether the firm’s as entirely herculean as its stock price implies. The opposite can be true too, of course: even the most flawed firms can be diamond stocks if the price is low enough. You might also like: [How to work out what Tesla’s really worth.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=The Price Is Right&utm_campaign=daily-global-24-11-2022&utm_source=email) Analyst Take Why This Giant Hedge Fund’s Planting Seeds In The Deserted Crypto Scene [Why This Giant Hedge Fund’s Planting Seeds In The Deserted Crypto Scene]( By Jonathan Hobbs, Analyst Investors are fleeing the disaster-struck crypto world as fast as they can. But that hasn’t stopped one calculating hedge fund from wading straight in: [Man Group]( – the world’s biggest publicly-traded hedge fund firm – is about to launch a [brand-new crypto fund](. Man Group’s keeping its crypto cards close to its chest, so I’ve taken a [closer look at the “investors’ guide to crypto” report]( it published in November. I’ve worked to figure out [how – and why – the hedge fund giant might be trading crypto](, and how you could [alter the expert strategies]( to give your portfolio an edge too. So that’s today’s Insight: [why Man Group is taking crypto on after the crisis, and how you can follow along](. [Read or listen to the Insight here]( Finimize x Revolut Pretty good stuff, right? Our analysts write Insights like this every day, and you can read every single one of them with [Finimize Premium](. There’s no better time to get started: our new partnership means you can get [six free months of Finimize Premium]( and [three free months of Revolut Premium]( if you [sign up for Revolut today](. We’ll even send you £10 (or equivalent) to your Revolut account to get you started. SPONSORED BY RAISIN Make your money work harder You’re working hard to make enough cash to help you get through these tough times. Best make sure your money’s keeping up its side of the bargain, then. You could start by [opening an account with Raisin UK](: you’ll be able to [pick and mix a batch of flexible, easy-access savings accounts]( so you can design the set up that suits your goals. And with [competitive fixed rate bonds available](, you can relax in the knowledge that you know exactly [how much interest you’ll earn]( on your savings. [Put your money to work with Raisin UK](. [Find Out More]( Open to UK residents only. Credit Sus [Credit Sus] What’s Going On Here? Credit Suisse warned investors on [Wednesday]( that it’s bracing for another dizzying loss this quarter. What Does This Mean? Credit Suisse was probably hoping to hold onto customers while its “strategic overhaul” gets underway, but bold blueprints alone don’t earn anyone much goodwill. So it’s a kick in the Swiss lender's teeth that massive withdrawals by its wealthiest customers are set to see it chalk up a $1.6 billion loss this quarter. And given that blow follows a $4 billion hole the quarter before, it’s no wonder Credit Suisse is on a campaign to change things: the bank’s now hoping to drum up cash from new and existing shareholders, and is lining up a whole 9,000 jobs on the chopping block. Why Should I Care? For markets: Running from the bank. Most of us don’t pine after our Bank of America or HSBC bank clerks, so switching to another lender is normally a pretty painless affair. But that’s not the case when it comes to private banking at the likes of Credit Suisse. It might take a lot of schmoozing to win prize punters, sure, but once you’ve hooked them, they rarely jump ship. That’s why it’s so alarming that 10% of the bank's “stickiest” clients' cash has flown out the door this year, rivaling the hasty withdrawals made during 2008’s financial crisis. Credit Suisse has a textbook crisis of confidence on its hands, then, and needs to restore trust pronto. The bigger picture: Not life or death… yet. Regulators make banks keep a certain amount of cash in their coffers so they can cope with losses when times get tough, a rule that’s only tightened since the days of the financial crisis. That means that while Credit Suisse desperately needs to win customers’ confidence, cut costs, and raise funds, the firm should be padded with enough cash to keep it moving for now. You might also like: [Here’s what the headlines won’t tell you about Credit Suisse.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Credit Sus&utm_campaign=daily-global-24-11-2022&utm_source=email) 💬 Quote of the day “The turkey. The sweet potatoes. The stuffing. The pumpkin pie. 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