This must be a follow up to his comment about Blackrock making money on lending out shares in its funds. Re incents negative GDP.
Also, I wonder how many independent directors the index companies will demand of Tesla.
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This must be a follow up to his comment about Blackrock making money on lending out shares in its funds. Re incents negative GDP.
Also, I wonder how many independent directors the index companies will demand of Tesla.
OT
Ignoring WSJ copyright is in the public interest, and Bogle should know better than to use that as his publication outlet.
Some commentary on the piece:
The Father of Index Funds Sounds a Warning on Index Funds : financialindependence,
John Bogle pens WSJ op-ed warning index funds becoming too big
One partial solution, which Bogle doesn't suggest, is to force fund managers to vote in accordance with the directions of the fund owners. Same as brokers are required to vote in accordance with the direction of the account owners -- which, you should know, is *relatively new* . In the bad old days, if you had shares in a brokerage account, the broker could vote your shares however he wanted. This was made illegal.
Same thing should happen with index funds, though maybe many of the retail holders wouldn't want to vote 500 different proxies. In that case, if the retail holder doesn't vote them, those shares should not be voted at all.
Thanks. I will not give the WSJ money since they're a pack of lying crooks who belong in prison.
Ignoring WSJ copyright is in the public interest, and Bogle should know better than to use that as his publication outlet.
Some commentary on the piece:
The Father of Index Funds Sounds a Warning on Index Funds : financialindependence,
John Bogle pens WSJ op-ed warning index funds becoming too big
One partial solution, which Bogle doesn't suggest, is to force fund managers to vote in accordance with the directions of the fund owners. Same as brokers are required to vote in accordance with the direction of the account owners -- which, you should know, is *relatively new* . In the bad old days, if you had shares in a brokerage account, the broker could vote your shares however he wanted. This was made illegal.
Same thing should happen with index funds, though maybe many of the retail holders wouldn't want to vote 500 different proxies. In that case, if the retail holder doesn't vote them, those shares should not be voted at all.
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Carl Raymond
Active Member
I can think of two reason Musk would agree with a dissing of index funds. One, they lend shares to short sellers. Musk has commented on this before, specifically mentioning Blackrock. Two, if the index fund contains fossil fuel stocks, the stocks within the index fund are shackled to the misfortunes of these stocks, even though it may be the high performance of cleantech companies like Tesla that directly leads to pain for the fossil fuel stocks. That makes it hard to break loose.
EVNow
Well-Known Member
Yes, as one should expect, higher reward carries higher risk.
I'm going to start an orange man group. Instead of drums we'll use the worlds smallest violins. Just kidding, this post makes no sense.
But but but
anthonyj
Stonks
About the tweet that just got deleted.
First thing that came to my mind was that he is hinting that Tesla will soon be owned by a few major players scooping up the stock. This will lead to the epic short squeeze he promised us. He loves to give out cryptic through his tweets.
Anyone remember this deleted tweet a couple months ago before Q3? He basically said debt will be repaid. He deleted it once he noticed that it might violate SEC rules (or he deleted it to screw with people lol)
Every time Elon promises something, he makes it happen even though it's usually late. Elon promised us a short squeeze, and he will deliver.
First thing that came to my mind was that he is hinting that Tesla will soon be owned by a few major players scooping up the stock. This will lead to the epic short squeeze he promised us. He loves to give out cryptic through his tweets.
Anyone remember this deleted tweet a couple months ago before Q3? He basically said debt will be repaid. He deleted it once he noticed that it might violate SEC rules (or he deleted it to screw with people lol)
Every time Elon promises something, he makes it happen even though it's usually late. Elon promised us a short squeeze, and he will deliver.
Noone answered my question on Wednesday...guess we’ll find out soon enough.
This is going to be a fun week it seems.
OT: but potentially market related
I just saw a notification that Elon tweeted, didn't look carefully before clicked, then got page says the tweet has been deleted.
Anyone know what was that tweet?
If someone has not checked phone in the last hour, you might be able to see it in notification center.
I just saw a notification that Elon tweeted, didn't look carefully before clicked, then got page says the tweet has been deleted.
Anyone know what was that tweet?
If someone has not checked phone in the last hour, you might be able to see it in notification center.
See above article in WSJ about Bogle. Elon said "Bogle is right".
News has already been posted - but in the Reuters article it says China will reduce tariffs back to 15% on July 1st. (I presume that is 2019). Thats a long way away (still, at last we have a date I guess).
“Import tariffs will be cut to 15 percent from 25 percent for most vehicles from July 1, the Ministry of Finance said on Tuesday, adding that this was part of efforts to open up China’s markets and spur development of the local auto sector. A small number of imported trucks are taxed at 20 percent currently.
Import tariffs for auto parts would be cut to 6 percent from mostly around 10 percent, the ministry said in a statement.”
“Import tariffs will be cut to 15 percent from 25 percent for most vehicles from July 1, the Ministry of Finance said on Tuesday, adding that this was part of efforts to open up China’s markets and spur development of the local auto sector. A small number of imported trucks are taxed at 20 percent currently.
Import tariffs for auto parts would be cut to 6 percent from mostly around 10 percent, the ministry said in a statement.”
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Artful Dodger
"Neko no me"
No it isn't. It's less. Production averages 10-11 weeks per quarter. You have to include holidays and downtime.
Please show us a year where Model S/X production averaged 2,500/wk.
TIA
Tesla announced it delivered 101,312 Model S and Model X cars in 2017, a 33 percent rise over its 2016 . That's an average of 1,943 per week.
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That article is dated 5/22/18; July 1 refers to 2018. I was confused by it as well.
OT
That's what the cabin camera in Model 3 is for, although it's disabled for the moment.
Artful Dodger
"Neko no me"
Nasdaq 100 Futures - Dec 18
7,100.25 +150.75 +2.17%
01:15:58 EST 03 Dec 2018- Real-time CFD Data
OT
My take on the growth of Index fund is the general public had slowly lost their trust of the Wall Street, especially after they saw what happened in 2008.
Investing in index fund is one way to make sure there is no monkey business playing underneath, until indexes starts to play games though.
You can search "Bogle is right" in tweeter and find plenty of links to the article, then clicking from there usually gets you pass the paywall, I guess this is another way to F*** WSJ.
My take on the growth of Index fund is the general public had slowly lost their trust of the Wall Street, especially after they saw what happened in 2008.
Investing in index fund is one way to make sure there is no monkey business playing underneath, until indexes starts to play games though.
OT
He doesn't want that, unless those major players are on board with the corporate mission. He may have just been referencing the fact that TSLA is probably going to be added to the S&P 500, added to tons of index funds, and as a result Vanguard/Fidelity/Blackrock will have even more shares of it.
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