A hedge fund manager dissed Tesla at a private investor confab in New York, according to businessinsider.com.

Mark Spiegel of Stanphyl Capital, a small fund based in New York, pitched a bet against the carmaker at the Robin Hood Investors Conference.

In a slide presentation, Spiegel says the company faces a rough future, including increased competition from other electric-car makers, though he doubts about whether competitors will come in to move Tesla out of the market for its battery cells and superchargers.

“Over the next few years, a massive number of long-range electric cars will be on the market, often at prices subsidized by profits from their makers’ conventional vehicles, an option Tesla doesn’t have,” the presentation says. “So pricing pressure on Tesla will be intense.”