Wednesday, August 19, 2020

Getting into Match King territory

At least we still have a little ways to go.
Ivan Kreuger
In 1929, at the peak of his career, the Kreuger fortune was thought to be worth 30 billion Swedish kronor, equivalent to approximately US$100 billion in 2000, and consisting of more than 200 companies

Elon Musk
The outspoken entrepreneur is now the world’s fourth-richest person after Tesla Inc. shares surged 11% on Monday, closing at a record high and boosting Musk’s net worth by $7.8 billion.

The rise vaulted the Tesla co-founder past French luxury tycoon Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index. Musk’s $84.8 billion fortune puts him within $15 billion of Mark Zuckerberg, No. 3 on the ranking of the world’s 500 richest people.
Absolutely insane. This is a scandal-ridden company known for terrible quality control that's about to enter the competitive landscape equivalent of a wood chipper.

It's trading at P/E of 971.

As we've said before...

A bubble in the middle of an economic collapse in the middle of a pandemic.

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