Tesla sneezed and Pinnacle Investment Management caught a cold.
In a microcosm of how a sea of red on Wall Street is hurting local investors, the slump in the Elon Musk-run electric carmaker’s share price is being mirrored in the returns of Pinnacle and its Hyperion Global Fund, which is an important driver of returns at the Australian investment giant.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
