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If you are in a room and think everyone else has lost their mind, that means you are in fact the crazy one. You are so utterly convinced you are right that you
by bananabreakfast 6y ago
If you are in a room and think everyone else has lost their mind, that means you are in fact the crazy one.
You are so utterly convinced you are right that you refuse to except there are things going on that are bigger than a simple market analysis.
Society is capable of willing into existence that which it believes needs to exist.
Try driving a Tesla once. Then tell me it shouldn't be worth more than all car companies on Earth combined.
- kasey_junk 6y agoI’ve driven a Tesla and found it completely confounding why people like them. It was a terrible experience. The build quality was worse than cars half the price and the driving experience was terrible. I want electric vehicles to become mainstream and think Tesla is an important driver to that goal. I also have no direct position in their share price. But to suggest that the cars themselves are transformative experiences is just wrong.
- 11thEarlOfMar 6y agoI've put 65,000 miles on a Model 3. Before this car, I drove a BMW 328i for 20 years. I loved the BMW dearly. The Model 3 is better in every way. Crisper handling, punchier acceleration, and quiet. The electric part is wondrous: No gas stations. Electricity costs me 1/3 what the same miles on gas would cost. Maintenance? Literally 2 sets of tires. The battery? I bought the extended range with 310 miles. Tesla upgraded me, free over the air, to 325 miles after about a year of owning the car. 65,000 miles in and it still holds a charge good for 305 miles. I find the car itself to be transformative.
- thelittleone 6y agoThis an interesting view point and have to admit I've been in the situation where I thought everyone else in the room had lost their mind. Turns out they where on LSD and I was not.
- gamblor956 6y agoI have ridden all models of the Tesla, including the original roadster, and I believe Tesla should not be worth even a fraction of what any other car maker is worth.
- 11thEarlOfMar 6y agoCompare TSLA gross margin to all the other car companies.
- gamblor956 6y agoIndustry worst under GAAP. Only better than industry using magical unicorn fairy dust accounting.
- 11thEarlOfMar 6y agoIf you have evidence of improper accounting or reporting, short the stock and publish the evidence. Otherwise, all US-based companies operate under the same laws and can take advantage of the same rules.
- gamblor956 6y agoShorting is based on fundamentals, but Tesla has not traded on fundamentals in years. Tesla stock is proof that the market can remain irrational for a very long time. As for the evidence, simply read Tesla's SEC filings. The financial parts, not the marketing fluff.
- reitzensteinm 6y agoTesla leaves R&D out of gross margins, as is typical of tech companies, but automakers amortize it over each unit and include it in the calculation. GM for example would add about $3k per car to gross margin if they did it the Tesla way. There's nothing wrong or shady either way, but it does make comparison less straight forward.
- 6y ago
- dwaltrip 6y agoThis heuristic doesn't always work. The Catholic Church was unable to will the Earth to the center of the Solar System :)