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

[evermore]

Concentrate on “minor”. He was darning with faint praise.

Here's the interview from last year to put it in context. That quote comes at the end of a litany of praise for the company and Elon: Charlie Munger calls the success of Elon Musk's Tesla a 'minor miracle' in the car business

I read it as very positive. I don't think his frank explanations of why investing in Tesla did not fit BH's strategy detract from that at all. I found it reassuring that he would asses the company as praiseworthy but a risky investment. That sounds like what a lot of people here say too.

 

[Zextraterrestrial]

Munger was very much down on Tesla early on, but in recent years he has softened his tune and even praised Elon and Tesla occasionally.

But they still don’t get how early in Tesla’s game we are!? It’s like a 2 yr old kid compared to auto industry or the other industries they are also in, which are quite a lot!

 

[ggies07]

Berkshire Hathaway being the investment Titan that it is, and Charlie’s well-publicized animus about Tesla being what it is, it is somewhat appropriate on this thread to follow BH’s succession policy.

Whoever it is who takes his place - and of course, Warren B also will not be around forever - his or her views cannot be identical to Mr Munger’s: we should keep a weather eye out for changes.

 

[AudubonB]

Truly Scrumptious, I hope.

 

[Mengy]

But they still don’t get how early in Tesla’s game we are!? It’s like a 2 yr old kid compared to auto industry or the other industries they are also in, which are quite a lot!

Warren and Munger don't typically invest in startups nor growth phase companies. They like to invest in mature dependable businesses, preferably ones which pay dividends and have reliable predictable CEO's. Not only does Tesla not fit their usual profile, but Elon most certainly is not the kind of CEO they back with their money.

Now, will they miss the boat once TSLA really takes off? Yep, but they are okay with that boat being missed because they feel safe with the investments they already have.

Money made is money made even if you could have possibly made more. It's hard to argue with their performance over the years, so they must have done something right, even if we disagree with sitting out on TSLA.

 

[Chunky Jr.]

Tesla has put out a press release announcing the Cybertruck event. "Tesla will announce details"

https://twitter.com/x/status/1729672870970687755

 

[M|S|M MYP]

Tesla has put out a press release announcing the Cybertruck event.

https://twitter.com/x/status/1729672870970687755

Event starts an hour prior to market close, could go up or could go down more

 

[Carl Raymond]

Tesla has put out a press release announcing the Cybertruck event. "Tesla will announce details"

https://twitter.com/x/status/1729672870970687755

Initially there was talk of 1pm start. Now it’s 2pm. Allowing half hour for late start, half hour preamble, NY day market, an hour ahead, possibly closed before the key announcements of price/range.

 

[willow_hiller]

Initially there was talk of 1pm start. Now it’s 2pm. Allowing half hour for late start, half hour preamble, NY day market, an hour ahead, possibly closed before the key announcements of price/range.

1 PM check-in start for in-person attendees. 2 PM keynote and deliveries:

https://twitter.com/x/status/1729564421519798715

 

[capster]

Truly Scrumptious, I hope.

Across the many years I worked in R&D for the legacy German OEM that thought itself the best, I thought of the scene in the Baron’s castle with the Baron’s, ah, researchers and Chitty Chitty Bang Bang. No offense intended to my erstwhile German colleagues.

That experience has had me chuckling ever since every time I heard "the competition is coming in EV’s" about legacy automakers. Gave me lots of confidence to hodl TSLA too.

 

[hobbes]

https://twitter.com/x/status/1729672870970687755

 

[Artful Dodger]

Oh my God, Becky, look at her

lol ... ♫ and I can not lie ♫

Meanwhile:

Charlie Munger in final CNBC interview: You've got to learn how to recognize rare opportunities | CNBC Television (3 hrs ago)***

**its too early to say it's rediculous how far ahead BYD is than Tesla

 

[Artful Dodger]

Whoever it is who takes his place - and of course, Warren B also will not be around forever - his or her views cannot be identical to Mr Munger’s: we should keep a weather eye out for changes.

Berkie filed with the SEC to keep a major portion of their Q3 equity purchases confidential. That could have already happened. They won't reveal their action until they're finished accumulating (and they're a decade behind, according to Elon).

 

[EnzoXYZ]

Munger said, "We haven't had a successful new auto company in a long, long time. What Tesla has done in the car business is a minor miracle." That sounds like praise to me, not animus.

And I'll forget they invested in a Chinese company/competitor...
And all the crap they said about Tesla and Elon...
OK forget and forgive.

 

[Doit]

Looks promising

Milan Kovac @_milankovac_
Everyday that same “wow” feeling hits me as I enter our lab and see all our bots in action.
@julianibarz’s AI team explores various neural net architectures, trains them on our world-class supercomputers, deploys them on several real-world humanoid robots and evaluates their performance at doing elaborated tasks fully autonomously.
While imitation learning gets us to a nice spot, we’re adding RL components to our stack for situations where data collection through tele-operation is not feasible, not scalable, or not safe - both for locomotion and manipulation.
We’re also looking into the bigger picture of learning straight from videos of humans performing the tasks.

https://twitter.com/x/status/1729696779766214968

 

[Doit]

Berkie filed with the SEC to keep a major portion of their Q3 equity purchases confidential. That could have already happened. They won't reveal their action until they're finished accumulating (and they're a decade behind, according to Elon).

Sounds familiar
Nov 18, 2020

Thread explaining reasoning behind Berkshire Hathaway taking a 25 M share ($11B) stake in Tesla.

https://twitter.com/x/status/1328943541570179075

They have made an $11B investment in some company, but hidden to avoid moving the market.

It must be a large cap company (only 22 possibles in US) and one that Berkshire Hathaway do not already have a stake in (that leaves 15). This would explain 25M of the 50M missing shares, with the rest explainable by small retail investors, small institutions and delta hedging.

Turned out to be Verizon and Chevron: Financial Time: Berkshire reveals confidential bets on Verizon and Chevron

 

[M|S|M MYP]

Sounds familiar
Nov 18, 2020


Turned out to be Verizon and Chevron: Financial Time: Berkshire reveals confidential bets on Verizon and Chevron

Can't say I'm surprised at all. VZ pays a nice dividend and is going nowhere and Chevron also pays a nice dividend and we know WB's love for big oil.

 

[xhawk101]

Looking forward to being in Austin Thursday for the cyber truck event.... still looking for a ticket to the main event however. Willing to pay $500 for plus 1!

 

[Buckminster]

https://twitter.com/x/status/1729734535598752242

Chat here:
EV and Battery Credits

 

[skybluecgreen]

Munger said, "We haven't had a successful new auto company in a long, long time. What Tesla has done in the car business is a minor miracle." That sounds like praise to me, not animus.

Charlie Munger was the catalyst for the BYD investment as he bought into Wang Chuanfu 's vision back in 2008. Although he was renowned for his conservatism, he shared the same forward thinking ideas on sustainability many of us here invested in Tesla for. He was so excited about the prospects BYD proposed he once said he was only sorry he would not live long enough to see what the bright future was to hold. BYD stumbled in the following few years as Tesla emerged as the leader in sustainability but two have a lot in common and while Munger would not consider a Tesla investment due to Musk's unconventional style, he was on the same side.