iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,466 Blog Posts

Why Hate Tesla?

I need to be on the record here with this one for the sake of posterity. One thousand years from now, advanced humanoids will display iBankCoin blogs in one of their intergalactic museums like we do caveman sketchings today and I need to make sure those freaks understand what the hell is going on here now.

There is a misfit group of like-minded monsters out there and on Twitter, led by men like Jim Chanos, discussing the PENDING bankruptcy of Tesla — as if that shit was in the process of happening. You listen to these people and you’d think the stock price was at $0.25 about to delist. They’ve even taken a hash-tag on Twitter to unite with one another #TSLAQ — implying the stock would one day be delisted and Elon Musk disgraced and probably disheveled.

WRONG.

Look at the fucking stock. Look at it — higher by 250% the past 6 months.

Also, look at their beautiful cars. Look at it.

While not perfect, for an American auto-manufacturer, they are easily the best. Look at the fucking nonsense Ford and GM are spitting out these days from their Detroit shit-hole. Also, might I add, the Tesla doesn’t require fucking gasoline. I spend at least $250 per mo on premium fuel — roughly $3,000 a year. I’d like to never have to spend money on gas again. If this is the case, why doesn’t “The Fly” own a Tesla?

It’s a long story, a lot to do with my fucking Benz.

But trust me when I tell you, I will buy a Tesla one day and I might even buy some shares too.

Ironically, and it should be noted, I can’t recall ever owning TSLA, aside from timing the top last week in puts and turning $17k into $57k overnight. Nonetheless, stop hating on Elon Musk and his kick ass cars and flame-throwers.

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27 comments

  1. rassoodock

    Ugh, I lost 300 basis points shorting this farce. People don’t like the fact that Musk&co. soaked up $10 billion+ in liquidity (much of it taxpayer funded) to build the hot car of the moment. The cars do have their selling points, namely the drivetrain, but the inventors were forced out by a dot com bubble riding narcissist so he could play Green Jesus. Also, they rip people off with dangerous and actually deadly fake self-driving. American manufacturing is shit right now.

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  2. og

    They’re basically a China backed company now. Wouldn’t be surprised if it was the Chinese buying up shares.

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  3. tradercaddy

    I now own an EV. I spent months researching the various cars and they all have pros and cons. I rejected the Model 3 in the end for various reasons especially the price for what one gets (overall they still have some quality issues). I was immediately turned off when they quoted fuel savings in their price on the website. Seems a bit fraudulent to me. Their supercharger stations is the biggest positive (and charging rate and OTA updates). Forget the autopilot and get back to me in 10 years.
    I ended up with a 2020 Chevy Bolt Premiere. They are giving them away price wise and the GM battery technology is proven. And by the way it’s the first GM I have ever owned in my 50+ years of car ownership. It’s a blast to drive and I love the one pedal driving.
    Looking forward to buying another EV in the next few years and getting rid of my Accord ICE car.

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    • cancel19

      How do you brake?!

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      • tradercaddy

        There is a standard brake and accelerator. One pedal driver basically means one lifts the foot off of the accelerator and the car will come to a complete stop on its own . You can drive the car in L on the transmission (it’s not the normal ICE transmission btw) and it will come to a quicker stop and for an even quicker stop you can use paddle shifters near the steering column. The advantage to all of this is you can add energy back into the battery and increase your mileage range. It’s really fun. I have attached a short video showing this. The brakes last forever on these EV’s.

        https://youtu.be/xJpCkyXsRHM

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  4. heckler

    $57k overnight feed us some fish motherfucker!

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  5. the good life

    Elon says the Model 3 can go for ONE MILLION MILES.

    Think about that.

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    • numbersgame

      The battery technolgoy (life + power density) improvements from Musk/Tesla are quite extraordinary. It’s one area where he seems to be matchign his claims.

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  6. flea

    I agree with you, Fly. Didn’t Europe just say NO gaz-guzzlers by 2035? Don’t we see Tesla’s all over the f’ing place?

    I was driving parallel to a guy in a Tesla who wanted desperately to squeeze between the guy in front of him and to jump in front of me. No way I could stop him – he accelerated like no car I’ve seen before, almost instantly over the horizon. That feature alone will garner market-share leadership.

    One pertinent question though … instead of gas, how much does the electricity cost per year?

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  7. the good life

    btw get the popcorn out for when news drops that Old Man Buffett takes a major stake…

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  8. numbersgame

    For the record, I don’t hate Tesla. I really like the Model S, although having only center-mounted gauges (Model 3) is a pure-cost-effective solution at the expense of driver safety.

    Also, automotive companies are conservative; Musk isn’t. He is calling his driver-assisted aid “Autopilot”, when that term is well-understood by Americans to mean that the driver can bascially take a nap. What’s more, the accidents that TSLA’s have been involved in oftern show significant failures in the Autopilot features, where the car didn’t react *at all* to pedestrians, trucks, fire engines, etc. Traditional auto manufactures wouldn’t – and haven’t – released a car with the same capabilities bacause they are unwilling to use the general public as crash-test dummies.

    Musk is definitely kick-starting the auto-driving era becuase he is willing to take risks with driver’s lives that others aren’t. Do the ends (future lives saved throguh accident avoidance) justify the means (sacraficing lives with an untested system)? Hard to say.

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    • alty

      TVIX

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      • numbersgame

        “Schadenfreude is a complex emotion, where rather than feeling sympathy towards someone’s misfortune, schadenfreude evokes joyful feelings that take pleasure from watching someone fail. This emotion is displayed more in children than adults.”
        https://en.wikipedia.org/wiki/Schadenfreude

        “Those individuals who suffer from low self esteem are the most likely to engage in Schadenfruede. This is because they feel threatened by other people who they suspect are performing better than them in life…When people do not feel good about themselves they will grab onto anything that will make them feel better – even if it is only enjoying the misfortune of other people. ”
        https://alcoholrehab.com/addiction-recovery/dangers-of-schadenfruede-in-recovery/

        I don’t know what personal problems are going on with you and I’m not a therapist. I can say that your failures in life are completely disconnected from my successes: I’m not your problem. However, given your apparent difficulties, if this is what you need to get through your days, I can take it.

        Condolences,
        NumbersGame

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        • alty

          Up 40k this month so far, that’s over $3000 a day. No failures here. I just enjoy the “pop” sound of a deflated ego. You’re not dumb, just a terrible trader.

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        • alty

          Don’t worry. Some day soon there will be a down day in the markets, and you can claim superiority over the moronic buy and holders of diversified portfolios (aka sheep).

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          • numbersgame

            One down day is nothing.

            Investors seem to think that a 20-40% loss is virtually impossible, while at the same time they think it is perfectly ordinary that some of the largest, most mature companies in the world have almost doubled in value in a year.

            It is also well-understood that central banks have been bouying the stock market, but again no one seems to see any problems with this.

            The coronavirus is not priced in (BTW, london now has confirmed case from somebody that was frelly walkign around for who knws how many days).

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  9. purdy

    WLL halted …low oil prices starting to take down weak sisters.

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