Depends on the person and the wealth manager.
It makes no sense IMO for
@Intl Professor who had the foresight to start buying TSLA at $30 to keep a wealth manager who has been fighting him every step on the way!
Actually, I started buying at around 26 and then again at around 17.50, but now our overall purchase price averages $72.53 and if you neglect the 10 shares awarded because of a disastrous purchase of SCTY at $84! it becomes $66.36. And I took the GTAT bath too! So our record has some holes too.
I'm 81, my wife 41 and less than two years ago (shortly after my mother died at 99 and her mother, previously, at 98) I fainted for a fraction of a second and plowed into our garage. Pacemaker implanted four days later. Personal information on person, and the manager advised my Mom and late Sister for years. Absolutely trustworthy.
There's another way to look at this. I'm a teacher at heart and whatever the profession, even president of the United States, the noblest role is teacher. I'm teaching the wealth manager what my preferences are with considerable help from many of you who know what the HE double-toothpicks you're doing as investors. This time I lucked out, waiting to let him make a mistake after I had warned him about a stock, and then announce I wanted to do something so sequester the funds. When I called him today at 6:30 I found out he wanted to call me after consulting with his brother, the stock brains of their partnership at 6:00 our time. We had a good discussion. I bought fewer shares, agreed to unload some stock, which he has done, and he even offered up one of the pharmas I don't like. That may be next. He wisely counseled me not to take funds from one account as, in his role as wealth manager, he has much more expertise than I.
Since he gave me the old blaw blaw about the mixed views of analysts about Tesla, I politely sent him a subsequent e-mail pointing out there has been so far only one analyst, Andrea James, who fully understood the company, that she is probably the only "civilian" who was escorted through the floor at Fremont, with a link to her. (By the way, she now consults for Tesla after leaving Dougherty, which probably most of you knew.) I piled on with:
"If I were pairing traditional auto analysts with an alternative source of information with some creditability (say, his personal holdings of upwards of $300,000,000 in TSLA), it might be Ron Baron who has been quoted as expecting TSLA to reach a share price of $1,000 in two years. He’s too smart to mention this as a recommendation for a buy, so far as I know, and I don’t think he does. But you might be interested in his recent report. (I have no idea what his rep. as a fund manager is.)
https://www.baronfunds.com/sites/default/files/2Q17_Quarterly_Report_1.PDF
There I learned for the first time “Mary T. Barra, General Motors’ CEO who has been trained as an engineer, has instructed her supply chain to ‘use Tesla suppliers…even if they cost more!’ Her rationale is that despite incurring higher costs to build a car, maintenance and warranty costs will be lower; car safety will be improved; and GM’s reputation will be enhanced.'
You also seemed concerned awhile ago about competition from GM’s Bolt. The way we Tesla fanboys look at it, the proper comparison is whether Tesla’s Model 3 will compete with the BMW 3 series as well as it has the BMW 7 or Mercedes S series. Recent declines in sales of the 3 series imply that will happen. It is pretty clear Tesla counterparts dominate the upper end of the U.S. luxury car market today, if not world-wide. As a vice president of Porsche said a year or so ago, “All of Tesla’s decisions were right.”
I could be wrong, but I believe none of the traditional auto analysts evaluate the market for utility scale battery sales, which are ongoing. That is excusable because there is so far little hard data. But there is some. They also were surprised by the idiocy (audacity?) of plans for the Gigafactory in Nevada, which already produces after two years more lithium-ion batteries than any other factory in the world and is only 30% complete. Tesla is now talking about duplicates elsewhere in the world (to save on transportation costs).
Also, do traditional car analysts know why the Model 3 has a backward facing camera into the passenger compartment? Is it to assist in drowse alerts (already a technology in some cars today) in conjunction with what Musk calls “autopilot” or is it for taxis or for people like my wife who might moonlight her car as a self-driving Uber on autopilot when Tesla Internet, which debuts next year, after self-driving cars become a legal reality? (Is it a feature designed to catch litterers or vandals or Illegal activities like drug dealing or a safety feature against assault?)
I don’t know for sure, but you never know what visions may become reality."
When someone like Mitch or many others I could mention but don't want to leave anyone out, sneezes, or even sniffles, about investing and a whole host of other subjects, OT or not, listen and learn as I try to.
There's a lot of ammo here to teach wealth managers.
Sermon for the day, dearly beloveds. (I can't believe Hillary said, "deplorables!" Z minus for teaching.)
Sorry for the length, but it kept me off the streets for a bit. Now my wife is home from school and I have to make some rice, ur, lice, ur ligh, ur whatever she said.
(She claims in Thai "we don't pronounce the consonants at the end of words" and so she tries to improve my English each day.)
Edit (much later): Typo--Re, Andrea James, escorted through the floor
where battery packs are assembled.
