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   Investors stood by the tortured carmaker, plus China's drafting its next big plan |
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                               <a class="text-blackLight no-underline font-extrabold" style="font-weight: 800; color: #3C4857; text-decoration: none;">
                                TOGETHER WITH
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                   Hi Sarah, here's what you need to know for
                   <strong>
                    May 28th
                   </strong>
                   in
                   <strong>
                    3:11 minutes
                   </strong>
                   .
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                     Tesla’s European sales and market share both fell dramatically – but investors decided against pushing the stock down too
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                     Here's how you can adopt the simple theory that's made billions for George Soros –
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                      Read Now
                     </a>
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                     China reportedly drafted new plans for a long-term push toward self-sufficiency, aiming to lean even lighter on foreign firms
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                     🍓 Finimized over a strawberry matcha at
                     <a style="color: #204CE9; text-decoration: underline; font-weight: 500;">
                      Kurasu
                     </a>
                     in Kyoto, Japan (☀️19°C/66°F)
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               Half Bad
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              <p data-block-key="yho44" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What’s going on here?
               </b>
              </p>
              <p data-block-key="ct0t8" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               Tesla’s European sales fell 49% between this April and last, slicing the EV maker’s regional market share in two.
              </p>
              <p data-block-key="2olch" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What does this mean?
               </b>
              </p>
              <p data-block-key="5v0op" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               Europe as a whole recorded 28% more EV sales this April than last, with hybrids now making up over half of all new car sales. But buyers aren’t treating eco-orientated brands equally. Tesla’s European sales fell for the fourth month in a row in April, leaving the firm’s market share at 0.7% – about half of the 1.3% from a year ago. Drivers have been attracted to hybrid models and cheaper cars recently – not ideal for Tesla, which only makes fully electric cars with thick price tags. Still, the stock rallied nearly 5% after the news, with investors seemingly more focused on the robotaxis of tomorrow than the dire sales of today.
              </p>
              <p data-block-key="a348p" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                Why should I care?
               </b>
              </p>
              <p data-block-key="1s5h1" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 Zooming out:
                </i>
               </b>
               <i>
                Tesla’s trash may be Europe’s treasure.
               </i>
              </p>
              <p data-block-key="3l0ej" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               European carmakers have a chance to scoop up some of those local, ex-Tesla drivers, but their road to success in the States is less clear. Europe’s policymakers only have until July 9th to negotiate tariffs with the US president. If they can’t agree, up to $321 billion worth of transatlantic trade – more than 10% of which comes from vehicles – could suffer the consequences. Investors, then, need to look out for companies that can protect their profit from the effects of increasing Chinese competition
               <i>
                and
               </i>
               unpredictable tariffs.
              </p>
              <p data-block-key="eu9oj" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 The bigger picture:
                </i>
               </b>
               <i>
                European stocks trumped American ones – no pun intended.
               </i>
              </p>
              <p data-block-key="a6mii" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               Europe’s MSCI index has risen 9.4% this year, showing up the S&amp;P 500’s flatline. (Account for currency changes – the US dollar has fallen roughly 10% against the euro this year – and American investors would actually have made returns of around 20% from that European index.) See, despite tariff threats and increasingly complicated international trade, Europe has attracted investors’ attention: its economy is more stable, interest rates are lower, and stock prices are cheaper versus the States.
              </p>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
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                         <span style="font-family: Helvetica, Arial, sans-serif; font-size: 12px; font-weight: bold; color: #E6F14A; display: inline-block;">
                          FROM OUR RESEARCH DESK
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                          How To Use The Theory That Made George Soros An Investing Legend
                         </h2>
                         <p style="line-height: 1.5; margin-top: 0; margin-bottom: 16px; font-family: Helvetica, Arial, sans-serif; font-size: 14px; color: #FFFFFF; margin: 0;">
                          Stéphane Renevier, CFA
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                      <img alt="How To Use The Theory That Made George Soros An Investing Legend" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252Fhow-use-theory-made-george-soros-investing-legend-2nuvv2k.jpg%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D05c4f71e1a3f0d6e02e0a3ef6b9ecef2/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NDgzODM1NjQuODI5NjM1Nn0:1uK2Qu:WK1J4_MrFo0twi0E8YjO5LFvhW55_sprcrCffrHdkDQ" style="max-width: 300px; border-radius: 4px;" width="300"/>
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                    <td class="premium-story-text" style="padding-top: 24px;">
                     <p data-block-key="xjbe2" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      Let's be real: you and I are unlikely to ever outdo
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       legendary fund manager George Soros
                      </a>
                      .
                     </p>
                     <p data-block-key="6a9ac" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      As one of the best investors of all time, he achieved annual returns of more than 30% a year for over 30 years. He also famously pocketed
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       $1 billion
                      </a>
                      in a single investment – in a single day.
                     </p>
                     <p data-block-key="ek4er" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      You might not bank those numbers, but you
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       could improve your own returns
                      </a>
                      by adopting the “reflexivity” theory he credits for his success.
                     </p>
                     <p data-block-key="elrjs" style="font-size: 16px; line-height: 1.5; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; color: #fff;">
                      That’s today’s Insight:
                      <a style="color: inherit; text-decoration: underline; font-weight: inherit;">
                       how to use Soros’s simple yet mind-blowing theory to your advantage.
                      </a>
                     </p>
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                       <b>
                        Read or listen to the Insight here
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                      <div style="font-family:Helvetica, Arial, sans-serif;;font-size:13px;line-height:1;text-align:left;color:#000000;">
                       <h4 data-block-key="7c7el" style="font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; font-weight: 700; line-height: 1.25; margin-bottom: 16px; color: #171E27; font-size: 20px; font-family: 'Poppins', Helvetica, arial, -apple-system, sans-serif; margin-top: 0;">
                        <b>
                         Which of these quotes is actually from George Soros?
                        </b>
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                       <p data-block-key="avq80" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        A. “The worse, the better.”
                       </p>
                       <p data-block-key="s842" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        B. “It’s not whether you’re right or wrong, but how much money you make when you’re right.”
                       </p>
                       <p data-block-key="80p5o" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        C. “Bulls make money, bears make money, pigs get slaughtered.”
                       </p>
                       <p data-block-key="an5me" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
                        👉
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                         Click here to find out
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              <span class="text-heading1 text-black font-black" style="font-weight: 900; color: #283444; font-size: 24px;">
               Made In China 2035
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                 <img alt="Made In China 2035" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-270525-China.original.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D6372e9f1bab9a24b86b5b3e9b3a94bc5/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NDgzODM1NjQuODMwMDU2N30:1uK2Qu:AErJ0Byih6kYnNnS5fqAf_-gqF-3NmTtgDiX_7YdRGg" style="border:0;border-radius:4px;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="568"/>
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              </h4>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
              </p>
              <p data-block-key="p8ypl" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What’s going on here?
               </b>
              </p>
              <p data-block-key="dbnpr" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               As the “Made In China 2025” campaign nears its end, the Chinese government is reportedly drafting plans to promote self-sufficiency over the
               <i>
                next
               </i>
               number of years.
              </p>
              <p data-block-key="65i5j" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                What does this mean?
               </b>
              </p>
              <p data-block-key="fl6fu" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               Announced in 2015, the campaign was designed to reduce China’s reliance on international trade and boost local manufacturing. That decade has now almost been and gone. So, looking forward, the Chinese government is said to be considering a more low-key version of the same plan. It’ll likely bolster high-tech industries like EVs, robotics, and semiconductors – not least because the US is still restricting exports of its smartest chips.
              </p>
              <p data-block-key="9kfl0" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                Why should I care?
               </b>
              </p>
              <p data-block-key="85oaq" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 For markets:
                </i>
               </b>
               <i>
                Do rest on your laurels.
               </i>
              </p>
              <p data-block-key="7u0f6" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               China’s priorities make sense. The country’s manufacturing and industrial sectors are the biggest contributors to its economy, after all. (In fact, yearly investment in the two areas is double the amount seen in the US.) Meanwhile, consumer spending only makes up some 40% – noticeably lower than the 50% to 70% typically seen in more advanced economies. And don’t expect that figure to increase anytime soon: the government has admitted that it lacks the tools to coax folk into spending more. That could be problematic for firms all around the world. If Chinese shoppers aren’t encouraged by the government’s financial incentives, they might pull back from buying all kinds of nice-to-haves.
              </p>
              <p data-block-key="eints" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               <b>
                <i>
                 Zooming out:
                </i>
               </b>
               <i>
                China’s self-sufficiency is the world’s deficiency.
               </i>
              </p>
              <p data-block-key="fgghk" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
               China’s premier EV maker, BYD, has been able to trim prices by up to a third, padded by government subsidies. That’s helped it steal price-conscious customers from rival brands. BYD even
               <a style="text-decoration: underline; font-weight: 500; color: #3C4857;">
                outsold
               </a>
               Tesla in Europe for the first time in April – while maintaining thicker margins, too. Investors, take note: with Chinese firms selling competitive tech at even more competitive prices, only those with pricing power, strong branding, and industry-leading innovation will keep up.
              </p>
              <p style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px; margin: 0;">
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               <b>
                You might also like:
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               <a style="color: #204CE9; text-decoration: underline; font-weight: 500;">
                China’s shrinking population is creating opportunities for AI
               </a>
               .
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                  <strong>
                   Copy to share story:
                  </strong>
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                  "The secret of getting ahead is getting started."
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                 <span class="text-caption font-normal text-blackLight leading-normal" style="font-weight: 400; line-height: 1.5; color: #3C4857; font-size: 12px;">
                  – Mark Twain (an American writer and humorist)
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                   <b>
                    Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong.
                   </b>
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                     Take 2 minutes to learn more.
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                    The one-day countdown has started
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                   Big-time fund managers have a few advantages in their back pockets – not least of which is Level E Research.
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                   Fortunately, this one’s not entirely exclusive to those asset managers. Right now,
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                    everyday investors can be a part of this too
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                   .
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                   Level E has built a cutting-edge AI platform aimed right at those asset managers. It processes massive datasets and delivers intelligent insights in milliseconds.
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                   Let’s be honest, that’s huge:
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                    the ability to help the pros cut costs and make better-informed decisions
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                   could transform the enormous multi-billion-dollar asset management industry.
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                   That kind of market potential screams opportunity. So it’s no wonder Level E’s crowdfunding push has raised some eyebrows (along with
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                    an impressive 151% of its target
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                   ).
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                   The good news is that there’s still one more day to this investing campaign – which means you’ve still got time to slide Level E into your back pocket, too.
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                        🎯 On Our Radar
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                        1.
                        <b>
                         Excel is cheaper than therapy.
                        </b>
                        If your budget’s out of whack, this
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         hack could help you balance it
                        </a>
                        .
                       </p>
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                        2.
                        <b>
                         Sometimes, stocks go rogue.
                        </b>
                        The best plays when the
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         market and the economy are out of sync
                        </a>
                        .
                       </p>
                       <p data-block-key="du9fr" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        3.
                        <b>
                         No need to panic – unless you like being on time.
                        </b>
                        This
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         airspace issue
                        </a>
                        isn’t just Newark’s problem.
                       </p>
                       <p data-block-key="fg3rk" style="font-size: 16px; line-height: 1.5; color: #283444; font-family: 'Helvetica Neue', Helvetica, arial, -apple-system, sans-serif; margin-top: 0; margin-bottom: 16px;">
                        4.
                        <b>
                         The world's best investors walk into a bar...
                        </b>
                        Our
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         Modern Investor Summit
                        </a>
                        is no punchline.
                       </p>
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                        5.
                        <b>
                         Getting in might be easier than staying in.
                        </b>
                        Harvard’s
                        <a style="color: #204CE9; font-weight: 500; text-decoration: underline;">
                         new admissions criteria
                        </a>
                        : test scores, extracurriculars, and international diplomacy.
                       </p>
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                    Thanks for reading Sarah. If you liked today’s brief, we’d love for you to share it with a friend – here’s a link:
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