The auto industry is a notoriously challenging place to invest. It is capital intensive, regulated, cyclical, and globally competitive. It's no wonder so many up-and-coming automakers fail or get folded into a larger competitor. The auto industry as a whole has underperformed the S&P 500 over the last decade. General Motors is up an abysmal 8.1% over the last 10 years, while Ford is down over 20%. Tesla is the U.S.-based standout, while Ferrari is the global standout -- up over 600% in the last decade. Toyo ...