 Let me tell you a secret. I sold Tesla. Why? Because my investment thesis has changed ever since I came back from Warren Buffer's virtual HGM. It makes me realise how dangerous and how foolish it is to invest in something that I don't truly understand. If you are interested to find out my thought process of why I decided to sell Tesla and what did I use with the money that I got back to invest in, then keep on watching. Hi, everyone! All kindly welcome back to my channel where I share my investment journey and little insights that I accumulated over the years so that we can learn from each other and become better investors. If it's the first time of you coming to my channel, remember to hit the subscribe button as well as the notification bell so that you will not miss out any of my future investment updates. An early thumbs up is also appreciated because your support means a lot to me. Arigato! Just a few days ago, I decided to sell away my Tesla shares at about 16% profit at $265 and $0.50 per share. I bought the stock back in December 2020 and at that time, the share price was selling at $223 a share. So why did I buy Tesla at that time? Well, because I was just like so many other investors up there, got charmed by Elon Musk. To be honest, I'm really amazed by how Elon Musk has this ability to achieve the mission impossible from turning Tesla into the largest EV company in the world to its Gigapress manufacturing technology to launching SpaceX. I was even more amazed when I read the book about Elon Musk and became totally in awe in his dedication towards his work and of course, his vision and his talent. And when I was looking at Tesla's annual report at that time, the revenue growth was 50% year on year. The free cash flow was increasing and the company turned profitable. Plus, Kathy was unwavering support towards Tesla at that time. I was sold. Hoping that this investment will 10x mine return with Elon Musk working for me. But the journey to 10x my investment has been so tough for the past three years. I literally feel like I'm always on the roller coaster ride with a period of time that my profits close to 100% and then afterwards, the stock keep tumbling down to close to 50% loss when it dropped to $100 at the beginning of this year. So after going through all this exciting emotional roller coaster, I asked myself, do I really understand this company? Although I did my own research on Tesla, but I keep asking myself, are you sure this understanding is sufficient enough just by watching a few YouTube videos, read a book about Elon Musk and go and dig out a few annual reports of the company? Most importantly, do I have the appetite to stomach the risk knowing that it's still gonna be a roller coaster ride in front? Is this stock truly suitable for me? It may be that I flew to US Omaha to attempt Warren Buffett's HGM and it struck a huge realization in me that it's not enough just by investing in a good company. It should also be run by a trustworthy management team and from Buffett's and Munger's demeanor and how consistent they are with their words and actions across so many years, you can really see that they are truly credible and trustworthy people and I just compared that with Elon Musk. It just made me think twice again regarding my holding in Tesla. From the way he hyped up about the dodge coin, how he talked about buying over Twitter and then wanted to back up to eventually having to buy Twitter because he was involved in the lawsuit plus all his many emotional arousing tweets. It just made me wonder is he truly a character that I personally respect? Don't get me wrong, there's no denial that he has achieved tremendous success but I think people can change and their character can be led astray especially after they face such a tremendous success. So after considering all this, I just feel that I don't have faith in him anymore, at least at this moment. Furthermore, EV space has gotten really competitive over the past few years with all the car manufacturers rushing into this space to produce their own EVs and according to Axios, rival cars are gaining ground. Since 2022, Tesla's market share has fallen from 72% to now 54%. And last but not least, I asked myself, do I truly understand the EV industry? From battery production to car manufacturing to battery recycling and all the technological advancement needed for full-size driving. The answer is clearly no. That's why considering all this, I decided to sell away my shares and I think I'm still considered lucky to be able to sell away my Tesla Holdings at a 16% profit. But once again, luck is never duplicable and these three years of roller coaster journey really teach me a very great lesson. However, please do not take what I'm doing as an investment advice because I could be very wrong in my own analysis. The stock price can go on a lot higher after I release this video. But even if it does happen, I am okay with my decision because I decide to stick within my circle of competence. So if you are a Tesla investor, I would love to hear from you. What makes you have so much confidence in this company as well as Elon Musk's management capability? Do let me know in the comment section below so that I can learn from you too. Now the next question is after I sold off my Tesla shares with a slight profit, what did I use the money to invest in? I went to buy an I.O. No. What? Just kidding. No way that I'm going to invest my money into another EV company that I don't understand. Instead, I use the money to go and buy two very stable ETFs because they have a long-term track record of growth. The first one is XLP, which includes all these great businesses like PNG, PepsiCo, Coca-Cola, Costco, Walmart and more. And the second one is Healthcare ETF XLV because I believe healthcare will continue to grow despite of the massive inflation that we are facing right now. Most importantly, these two ETFs have been beaten down lately while many sectors, especially the tech sectors, have been increasing in stock price like crazy. And Warren Buffett said, Be fearful when others are greedy. That's why I do not want to chase the rising tech stock price right now because the risks are a lot higher. Instead, I want to protect my money and that's why invest in safety net like consumer staples and healthcare sector. This is the average purchase price that I bought for these two ETFs. And as you can see, the current stock price is actually lower than my purchase price. So if you are wondering what if it drops further from here? Instead of buying them at the market price, cannot buy them even cheaper. Of course you can. If you know how to use BOSS option strategy by selling put option on this ETF for one month, you will be able to collect about 1% premium for XLP and 1.7% premium for XLV while promising to buy these stocks cheaper than the current market price thereby lowering your risk even further. However, it's very important that you get yourself educated first before making your first option trade. And that's why if you want to learn how to do it properly, then do join us in our upcoming 3-2-hour next level options masterclass where we are going to share with you three different option strategies for you to take advantage of in different market conditions. All you need to do is click on the link around this video and register for your spot. So in summary, I decided to sell away my Tesla shares because I no longer have confidence in the management and most importantly, I don't really have a good understanding of the company. That's why I decided to use my funds to invest in something that can give me that peace of mind which are the two ETFs that I shared over here. If you find this video helpful, remember to give it a thumbs up and share it to your friends so that all of us can learn how to start investing safely step by step. And if you want to get more daily investment updates, then do join my telegram channel over there because I always share a lot of investment insights. With that, I will see you in the next video. Arigato!