Although I had -- and continue to have -- very strong beliefs about what a great investment Tesla stock is, and I am happy to gush about what a great car mine's been and how well-positioned the company is, and I continue to store a huge percentage of my net worth in the stock, I stop short of telling people what to do with their money. Even friends and family. I'm just not comfortable doing that.
The only exception was in January 2019. I wrote an email to my brother telling him if he had any spare cash lying around (i knew he had a bunch), he should strongly consider buying some $TSLA. I told him it could double in the next year or two, and i laid out a case why that would happen. He wrote back saying "ok, i'll probably put a hundred thousand or so into it". The stock at the time was at about $60 (split-adjusted). That $100k would be worth more than a million within 2 years.
Unfortunately, he never got around to doing so.
(He is getting a Model S this fall though)
I'm closest to your case,
@Pezpunk . I avoid making
individual stock pick recommendations to friends and family, although I will volunteer how my investments have done if the topic comes up.
Instead, to all my friends and family paying huge fees (2.5%) to "experts" for investing their money into middling mutual funds, for a decade I've recommended a much more conservative approach of using a self-serve online broker to invest in diversified ETFs (Canadian / US / Global). Few have followed through, and their retirements are that much further away because of it.
For my Mum and for my partner, each of whom have zero interest in finance, they've "accepted" me volunteering to set up online accounts for them.
With their endorsement, I bought them some TSLA as the one, "fun" investment they can say they own besides the good returns of their ETFs (compared to proprietary and expensive mutual funds). Of course, their few TSLA shares have done way better than the ETFs, and they get to brag to their friends they are invested in Tesla!
Last Christmas, I gave my Mum (93), siblings, and aunt & uncle a free sailing trip to the Caribbean largely to share the wealth of my TSLA earnings with my loved ones. Unfortunately COVID nixed that November trip! Being the youngest in the family, none of my 3 siblings can bring themselves to say -
even after I offer - "wow, that's worked out great for you, will you please help me?".
Pride = poor.