Monday, June 29, 2020

I hate to spoil another blogger's joke...



So just click over to the Financial Times and read this cautionary list of red flags to watch out for when trying to avoid companies likely to leave a multi-billion dollar hole in the market. Make sure to read the last paragraph.

We’ll wait.

Who’s going to be the next Wirecard?




Without going into the specifics of the list (which are mostly way out of my area of expertise), the very fact that serious people are starting to speculate openly about Tesla in these terms is of itself significant.

The skeptics and short-sellers are moving out of the fringe and starting to find a much more mainstream audience. Publications like the Financial Times and the LA Times don’t casually throw around suggestions of accounting irregularities and stock manipulation. They don’t use terms like “Narcissistic Personality Disorder” to describe the CEO or troll him with personal references.

These reporters and their publishers feel themselves on solid enough ground to come close to calling a company valued at close to $200 billion a scam, and professionals like these tend to err on the side of caution. 

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