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Dennis Blyashov
Associate at LongTail Alpha | MS Applied Finance
Dennis Blyashov is an Associate at LongTail Alpha, LLC, where he plays a key role in client services. He leverages his extensive background in sales and consulting, developed through experiences at various tech startups and Simon Kucher Partners, to enhance the firm's investment team. Blyashov holds a Master of Science in Applied Finance from Pepperdine Graziadio Business School and graduated from Harvard College with a degree in Economics and a minor in Neuroscience.13
In addition to his professional qualifications, Blyashov is noted for his athletic achievements as an All-American water polo player. He has a strong commitment to personal development, enjoying activities such as surfing, exploring the outdoors, and music.12 His diverse interests reflect a dedication to lifelong learning and human performance.1
Highlights
🚀 Our Journey to Short Tesla: Analyzing the "Elon Musk Premium"
During our 7-week internship class at Pepperdine Graziadio Business School, my team and I had the unique opportunity to work with Bryant Stibel, a PE shop in Malibu. Our task? To develop an investment pitch, which we later presented to the firm's executive board.
March 2nd: we chose to short Tesla (closed at $202) Target price: $130, based on a blend of DCF and multiple model analyses. Presented on April 12th: closed at $187 Today, April 25th: opened at $159
One of the key aspects of our research was evaluating the "Elon Musk Premium" by analyzing recurring vs. non-recurring revenue. We ran linear regression models on data from the auto, tech, and clean energy industries to determine the impact of rec vs. non-rec revenue on a company's EV/EBITDA multiple. At the time, Tesla's multiple was 25x, but our model suggested it should be closer to 15x. This difference translated to a $175B "Elon Musk Premium."
If I could paraphrase Jeff Stibel, our valuation earned an A- with room for improvement in our behavioral framework valuation given how Tesla doesn't follow traditional fundamentals.
This project was an incredible learning experience, and I'm grateful to have collaborated with such a dedicated team James Heyworth Abdul Badawiya Michael Sugiarto
A huge thank you to our professors Clemens Kownatzki Davide Accomazzo for their guidance, and to Bryant Stibel and Jeff for giving us this amazing opportunity. We may have had our limitations, but this experience was invaluable. And who knows? Maybe we'll see Tesla reach that $130 target price one day! 😉
DM me if you're interested in looking at our pitch deck or if you find yourself wanting one of our “Short Tesla” special edition hats.
#tesla #elonmusk #investmentpitch #pepperdinegraziadio #finance
Today marked the last day of my summer internship with Ignite Mental Health! I want to thank Sean Burke and Ryan Golt for being great mentors and teaching me the rigors of the startup life. Also a big thank you to everyone who helped make Checked In a reality :)
I’m looking forward to continue building my relationship with Ignite Mental Health and taking Checked In even further!
