Richard Feynman, in a 1974 commencement address at Caltech:
The first principle is that you must not fool yourself – and you are the easiest person to fool.
Feynman was a Nobel Prize winning physicist and one of the best-known scientists in the world, credited with pioneering the field of quantum computing and introducing the concept of nanotechnology, and I cannot recommend the unforgettable, life-affirming documentary Ghengis Blues highly enough.
As for fooling oneself, or allowing oneself to be fooled, innumerable people have been fooled by Tesla and its mercurial CEO Elon Musk.
When people eventually ask “where were the signs?”, the fair and truthful answer is “everywhere, and in your face for years”.
As I’ve stated previously and without reservation, since before and during its “meme stonk” parabolic peaking above $400 in 2021, and restate today with emphasis, the depth and scope of rot at Tesla will eventually be a great surprise to many, and shorting Tesla is the textbook definition of value investing.
It trades as I type at $142.50, on its way well below $50 I believe, and no one will have any excuse to feel fooled other than by their own willful ignorance as its share price continues to collapse.
Tesla’s top engineering exec, who led development of critical technologies, has resigned after 18 years
N.Y. Times: E.V. Sales Are Slowing. Tesla’s Are Slumping.
Tesla cuts prices in major markets as sales fall
Elon Musk Fires 10 Percent of Tesla Workforce, Prepares for “Next Phase of Growth”
In preparation for more growth, Musk issues a memo announcing an workforce cut of 10 percent and two top Tesla (TSLA) executives resign.
Let’s cut through all the lies…
Elon Musk says no other CEO in the world cares as much about safety as he does
Elon Musk has to recall nearly every Tesla sold in the U.S. because some warning lights are too small
Tesla Voluntarily Recalls Cybertruck
Tesla Has The Highest Accident Rate Of Any Auto Brand
Tesla drivers are the most accident-prone, according to a LendingTree analysis of 30 car brands. It found that Tesla drivers are involved in more accidents than drivers of any other brand.
I’m comfortable with my very profitable two TSLA short positions, the latest up 42% in just 3 months, however I’ll close that 2nd “Special Situation” position (TSLQ, last at $46.93) if it trades back below $46.20
Be aware the company reports tomorrow (April 23) after markets close, which could whip the share price significantly.
Ref:
"Returning To Petrol": Volkswagen EV Sales Plunge 25% In Europe
Transport Minister Threatens Germans With "Indefinite Weekend Driving Ban" To Meet Mandated Emissions Targets
Daytime Solar Power Glut in California, Rooftop Sales Plunge 90 Percent
White House Considers Invoking "Unprecedented" Climate Emergency
Here’s another doc I recommend, which serves as much a valuable exercise in logic and critical thinking as a view into ways in which data, and we, are often manipulated.
No matter how one feels about climate concerns, both real and imagined, or the very long line of fear-mongering power-grabbing fraudsters grifting off those concerns, no matter which way the wind blows or temperature goes this will give everyone reason to pause and think about how we’re conned on all kinds of topics, and where our beliefs may fall far short of facts. If you want to come out ahead in speculating or investing, that type of regular self-reflection is an absolute must:
Super bullish for oil:
Biden Punishes Drillers With 15-Fold Increase In Permitting Costs, Plans To Block Arctic Oil Extraction
Oil is now 50x the price of natural gas, and that won’t last:
This substack’s only real loser since inception has been natural gas (BOIL), and it’s been nearly a total loser, however the plan was always to add at far lower prices if the opportunity presented itself and far lower prices are certainly here… though I expect not here to stay.
Sentiment for natgas borders on hatred while prospects seem bleak, yet we’re entering the most typically bullish months for the sector while its chart is turning constructive.
BOIL trades now at $14.10 and I’m adding a 4th position with no stop.
Ref, and note these prices are pre 1/20 reverse-split in June 2023 and I did add subsequent positions:
Electricity Bills Boost Inflation—and Show No Sign of Slowing
Tepco Loads Fuel Rods In World's Largest Nuclear Power Plant As Atomic Era Reignites
The world is finally realizing, after trying to rid itself of nuclear power following the 2011 Fukushima nuclear disaster, that the power of the atom will be the heart of clean, reliable electricity generation - not unreliable solar and wind.
Americans Pour Into Pawnshops, Selling Gold Jewelry As Price Surges
IMF steps up its warning to US over spending and ballooning debt
Office Buildings in New York and Los Angeles are Selling for up to 50% Less Than A Decade Ago
People worrying too much about inflation (proper terms: currency devaluation / government theft of wealth and buying power) and not enough about a deflationary spiral?
Eh, one crisis opportunity at a time.