I Think Tesla is Enron On Wheels, OK?
Most readers are silent, agree, or have no opinion but one or two are upset with me. It’s gonna happen with 10,000+ subscribers.
Criticism basically comes down to this:
- Tesla is breaking new ground and we need innovation. Sorry. What? Insider subscribers are going to get a full run down on this shortly. Nothing proprietary here folks. Nothing. Please learn to fact check.
- I’m jealous of Musk, a hater, and just being mean as a result. Two responses to this: 1) hahahaha 2) muhahahaha.
- Musk and Tesla (nobody seems to be able to separate the two) are way more than a car company. They’re a friggin technological innovation company combining software with hardware and sheer genius to solve real world problems… or something like that.
Mmm… People are so god damn gullible. Dolly birds on the idiot box interview Musk, swooning like schoolgirls on heat, and chumps shareholders who, hypnotised by a strong jaw and ever grander distractions (solar roofs anyone?), remain in awe… and look, they’re being proven right.
Not too shabby for a company that has reported INCREASING LOSSES ever since it crawled out of the womb. $330 million in the first 3 months of this year – a new record. I’ve a feeling Tesla is going to make the record books for all sorts of reasons.
Let me remind you that this charade makes no money, probably never will, and continues to survive by sucking on two tits. One is the “feral guvmint” tit and the other is the equity markets.
That Tesla is currently the most valuable car company in America is proof that Einstein was right all along:
Far as I can tell Tesla is flying because on the Model 3 coming out. I wonder… will all this matter when in 6 months time some analyst at, say, Morgan Stanley (the current note holders of Elon’s borrowed money, which is in turn invested in Tesla stock) take a closer look and find that “oh isht, they lose money on every Model 3 they make”?
Maybe. Maybe not.
“Markets can remain irrational longer than you can remain solvent.” ― John Maynard Keynes
Hooray… Populism Defeated
So says the Financial Times.
But is it true?
Let’s not forget that this is the first time in modern French history that no major party candidate even made it to the playoffs.
Let’s do some math.
The abstention rate was reportedly 26%, the highest since WWII, and on top of that a whopping 4.2 million Frenchmen and Frenchlasses deliberately cast invalid votes.
This is one extremely divided country.
Le Pen managed to gather up 11 million votes, the highest amount ever for the far right in France.
According to the exit polls, up to 45% of voters who voted for Macron did so in order to block Le Pen but said they don’t support him or his program. His program, I will remind you, is pro-European Union.
So if we tally up the invalid votes cast, the abstention of 26% and the 45% who closed their eyes, blocked their noses, and voted for Macron, we find that only 25% of France actually supports France’s most recently crowned podium donut.
Markets reacted unsurprisingly. Here’s the trees:
And here, folks, is the forest:
Meh…
None of this changes the fact that the everything I detailed in “7 Steps To The Easiest Short In Recent History” remains firmly in place.
What Else?
Bitcoin. Take a look:
A clean breakout from the channel with $2,000 around the corner. But you already knew that cuz you’re a reader.
Have an excellent weekend!
– Chris
“Markets can remain irrational longer than you can remain solvent.” ― John Maynard Keynes
