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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

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Tomorrow's healine: Ford and GM scrap their EV programs b/c of chip shortage, sars and hurracaine Willma.

Cramer has been a paid clown and a tool. People still bringing him up need a good night sleep.

Got really excited when I saw that line. I’m always on the look-out for improving my ability to get a good night’s sleep🤕. Looking at his video’s won’t be an improvement over melatonin. Admission - I do read this forum, and even try to read The Wheel thread. That usually does it.
 
And - PERHAPS - my last post on SPACs.

I was very much in the forefront - of the investment community, of members of this community, of the news community specializing in Wall Street - in disparaging SPACs. Below read my two prior posts regarding same - and their posting dates:

(Sept. 10, 2019): The only SPAC I ever have invested in - personally, that’s coming hard on to a half-century; familially, that would be generations - is C. Palihapatiya’s first foray in this genre. That was called “IPOA” and as all should know since has morphed into Virgin Galactic, "SPCE".

I did this with significant trepidation, as the sole selling point was Mr P’s business acumen and his unparalleled access to much of Silicon Valley’s movers and shakers. So far, the investment has worked out for me as a reasonable buffer to our immense TSLA holdings.

Regardless, I am using this post to disparage SPACs and to warn all not to use them. Not only is Black Hole Investing (my term) fiduciarily unjustifiable in of itself, the entire structure is rife with opportunities for mischievous parties to separate investors from their funds, all without having to thread the needle of corporate disclosures, regulatory oversight and all the hard-nosed questions the investment community will throw at would-be raisers of capital during investment roadshows.

Of all the bad ideas that have come to the investment world in recent decades, SPACs are at the pinnacle of what should be made illegal.

Advice.
And:
And again it’s time to fire up the Look-Back-in-Time Machine. This time, though, it’s not so far back - only to last September.

But first, today has been the 2nd anniversary of that fateful 17 April 2019 presentation by unconvicted fraudster Trevor Milton, and his Nikola Truck Reveal in Scottsdale AZ.

How lucky I was to snag an invite! How amazed I was to find a new champion Goalpost Mover! Was it an electric truck? Was it hydrogen? A Hybrid? A CNG? Were there natural gas fields owned that would....errr, do just what, exactly? And what about the electric SUVs zipping around the obstacle course outside (not even manufactured by Nikola, by the way).

so, into the Look Back machine, and my post of 21 September. Not from this specific thread, but from the Nikola sub thread:


The one large caution I hope all can consider is that this imbroglio does not further diminish, delay and distract the Big Picture, which is to end the Ice Age. Unfortunately, I’m not seeing a lot that suggests otherwise.

This by no means suggests I find it unfortunate Mr Milton has been exposed. Far from it. But that he was able to perpetrate this I lay 100% of the fault upon those who did NOT perform their own due diligence: the investment community, the investment bankers, the associated firms like Bosch, GM, Iveco and so forth, the news outlets - there is an awful lot of blame to go around and there are a lot of places to lay it.


I also reiterate that we now have Exhibit A - to the effect that no B, C or D need be hauled out - as to why Special Purpose Acquisition Companies, aka SPACs, are a terrible idea and should be outlawed. This is notwithstanding Mr Palihapitiya’s efforts and successes and the gains I have incurred through his IPOA, and I also expect I would be trounced in a one-on-one with him were we to debate this issue (although I’d still be right..... ;)). Yes: one can do good and do well with a SPAC. But it is a vessel custom-made to enable and empower a fraudster and there are too many such out there.


Oh - did you think that this post was about Nikola? No. My distaste for SPACs now has come front and center to the likes of the various Jim Cramers of the airwaves, to Wall St investment banks...and to Congress and the SEC.
 
The best piece so far on Elon and his work. A lot of people will have their minds changed about why Elon is doing what he’s doing.

PBS also recently had Kara Swisher (NYT tech journalist) on their "Brief but Spectacular" mini-series yesterday. I was pleasantly surprised she mentioned that she went way back with Elon, and mentioned he's one of the few big minds working on big problems (as most big minds in Silicon Valley are working on small problems now):

 
I have a friend with cash sitting in the bank doing nothing. I told him I could make 1% per week on it without getting out of bed. What we agreed is that he setup the broker account, transfer some money, give me the login... Nothing "official there", but would be cumbersome if you did it with too many folks

Anyway, he didn't get his arse in gear yet, waiting... he's already missed out on 10-20% I'd say... 🤷‍♂️
If you can manage other people's money and easily produce returns of more than 67% per year, then I congratulate you, you are the worlds greatest asset manager.
 
The UK Dept. for Transport today released new car registration statistics for Q2 of this year (yes, they do take their time!), broken down by model. Here's a Twitter thread that discusses some of the more relevant aspects concerning Tesla:
Most of the cars outselling the M3 are MUCH cheaper.
Toyota Yaris, for e.g. starts at £16k, whereas the M3 SR starts at £41k! Most of the cars outselling M3 are around half the price.

Admittedly there are decent tax breaks for EV purchases over here but nonetheless it looks as though ‘Tesla stretch’ is alive and well in the U of K.
 
Most of the cars outselling the M3 are MUCH cheaper.
Toyota Yaris, for e.g. starts at £16k, whereas the M3 SR starts at £41k! Most of the cars outselling M3 are around half the price.

Admittedly there are decent tax breaks for EV purchases over here but nonetheless it looks as though ‘Tesla stretch’ is alive and well in the U of K.
And it's still a supply rather than a demand problem... Seeing a lot more Teslas around.

What is the collective noun for a group of white Tesla Model 3s - bevy, wedge, herd, sedge, siege or sege?
 
On Jeff's latest video Dessie Dolan found a Model Y body outside the Body in White in Austin, Texas:

TGABody.png


Source:
 
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