Trading/Investing Thread - Page 119

On November 23 2022 04:54 BlackJack wrote:
There is no twitter stock. It was delisted 2 weeks ago after the company went private.

Its fun to watch how peoples opinions of Elon Musks business acumen and contributions to society changed for no other fact than he didn’t fall in line with them ideologically. He went from saving the planet by making electric vehicles mainstream to Elizabeth Holmes 2.0.

Sure let’s completely overlook the fact Tesla is the first new major auto manufacturer since forever, they dominate market share in EV sales in the US, they made a production car that goes from 0-60 in 2 seconds, they are among the leaders in autonomous driving. None of that matters because the cyber truck window cracked when they threw a ball bearing at it so the whole thing is smoke and mirrors.

On November 23 2022 04:54 BlackJack wrote:
There is no twitter stock. It was delisted 2 weeks ago after the company went private.

Its fun to watch how peoples opinions of Elon Musks business acumen and contributions to society changed for no other fact than he didn’t fall in line with them ideologically. He went from saving the planet by making electric vehicles mainstream to Elizabeth Holmes 2.0.

Sure let’s completely overlook the fact Tesla is the first new major auto manufacturer since forever, they dominate market share in EV sales in the US, they made a production car that goes from 0-60 in 2 seconds, they are among the leaders in autonomous driving. None of that matters because the cyber truck window cracked when they threw a ball bearing at it so the whole thing is smoke and mirrors.

On November 23 2022 07:04 Slaughter wrote:


Or before people knew that he didn't really found Tesla like he wanted people to believe, or that his cars have had a shit ton of problems and now that other auto companies have entered the EV space they are pushing our similar or better products, or that he basically propped up a lot of his businesses with government money for a long ass time. Or that many many employees of SpaceX and Tesla have basically come out and say that he is a big asshole narcissist who doesn't know shit. Its more that people eventually saw behind the flashy man of the future PR he crafted for himself. Instead he is more run of the mill rich dude with not many outstanding qualities outside of being a somewhat savy investor?

He is like a RC Cola version of Steve Jobs with the same level of ego.

On November 23 2022 07:43 BlackJack wrote:


Yeah the narcisist asshole criticism is a good one. Most of it is just stupid and would not exist if he didn't come out as some kind of pseudo right-wing edgelord troll. Like simultaneously criticizing someone by saying "Everything he touches turns to shit" and also "He didn't actually found Tesla." He didn't start Tesla, he just took it over and led it to a peak $1 trillion maket cap. It's a strange definition of "turning things to shit" to say the least. Or the endless criticism that he's not an expert of coding or rocket science and he just has teams of people that do that for him. Does anyone think the CEO of General Electric knows how to build and program every machine that GE makes from washing machines to CT scanners?

On November 23 2022 07:56 Slaughter wrote:


Was it him though? Look at the actual company and not the stock price. Its a far less impressive company once you actually look at it vs the mythology that has been built around it.

On November 23 2022 12:53 gobbledydook wrote:
He's undoubtedly an asshole but to say he deserves no credit is just rewriting history.
Do not let politics cloud your objective judgment.

On November 23 2022 12:02 Slaughter wrote:
Other automakers had EV years before Tesla, they choose not to continue down that path.

On November 23 2022 20:01 Manit0u wrote:
I wonder though why Musk is getting preferential treatment. Theranos and Nikola projects also made empty promises and have been deemed fraud and ground to dust. Musk does this on a much larger scale with many more projects yet remains untouched. Lying to your customers is punishable by law after all.

What happened to the solar roof tiles that people even pre-purchased and never received?
What's the status of Tesla Semi that's been promised to be released "next year" for the past 5 years?
Robotaxis that were supposed to revolutionize this field in 2019?

Musk keeps promising a lot of things yet delivers nothing. It seems all he's producing are just Tesla models that don't even seem that much different from each other (kinda like new iPhone every year with it's "S" variant or whatever). And even that doesn't seem to go that well for him since Tesla has lost $500 billion in market cap this year (down 58% ytd).



Considering that Tesla as the leader in this field only has about 2% market share in automobile it doesn't seem like something really worth investing much into. Might be good for some R&D and pushing the existing designs forward but not something you should go all in on. Right now it's fine for Tesla but as more manufacturers begin to put out competing products this might be a very rough ride considering how small of a market space this is. Not a big problem for others whose majority of revenue will still come from standard cars but for a company that deals only with EV this might quickly become suffocating.

Credit Suisse on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) fourth-quarter loss as it undertakes a massive strategic overhaul.

The embattled lender last month announced a raft of measures to address persistent underperformance in its investment bank and a series of risk and compliance failures that have saddled it with consistently high litigation costs.

“These decisive measures are expected to result in a radical restructuring of the Investment Bank, an accelerated cost transformation, and strengthened and reallocated capital, each of which are progressing at pace,” the bank said in a market update on Wednesday.

Credit Suisse revealed that it had continued to experience net asset outflows, and said these flows were approximately 6% of assets under management at the end of the third quarter. The Zurich-based bank flagged last month that this trend continued in the first two weeks of October, after reports cast doubt over its liquidity position and credit default swaps spiked. Credit default swaps are a type of financial derivative that provide the buyer with protection against default.

“In wealth management, these outflows have reduced substantially from the elevated levels of the first two weeks of October 2022 although have not yet reversed,” Credit Suisse said Wednesday.

The group expects to record a 75 million Swiss franc loss related to the sale of its shareholding in British wealth tech platform Allfunds group, while lower deposits and reduced assets under management are expected to lead to a fall in net interest income, recurring commissions and fees, which the bank said is likely to lead to a loss for its wealth management division in the fourth quarter.

“Together with the adverse revenue impact from the previously disclosed exit from the non-core businesses and exposures, and as previously announced on October 27, 2022, Credit Suisse would expect the Investment Bank and the Group to report a substantial loss before taxes in the fourth quarter 2022, of up to CHF ~1.5 billion for the Group,” the bank said.

“The Group’s actual results will depend on a number of factors including the Investment Bank’s performance for the remainder of the quarter, the continued exit of non-core positions, any goodwill impairments, and the outcome of certain other actions, including potential real estate sales.”

Credit Suisse confirmed that it has begun working toward the targeted 15%, or 2.5 billion Swiss francs, reduction of its cost base by 2025 with a targeted reduction of 1.2 billion Swiss francs in 2023. Layoffs of 5% of the bank’s workforce are underway alongside reductions to “other non-compensation related costs.”

The bank announced last week that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Management, reducing SPG assets from $75 billion to approximately $20 billion by the middle of 2023.

“These actions and other deleveraging measures including, but not limited to, in the non-core businesses, are expected to strengthen liquidity ratios and reduce the funding requirements of the Group,” it said Wednesday.

Credit Suisse holds an extraordinary general meeting on Wednesday, at which shareholders will vote on the group’s restructuring plans and capital raising proposals.

Credit Suisse shares fell more than 5% in early trade.

On November 23 2022 19:57 MeSaber wrote:
If Elon turns Twitter around i can see most in here having to eat their own words.
Lets trust in the man who can maybe make us a multiplanetary species.
As for Kwark... If you check my YT link you can see GH stating after reviewing Twitter setup that he believes 20-40 GOOD devs can run it.
Im very sure Elon knows this too and thats why he said those who can code for real gets their ass to 10th floor.
So the remaining 7000+ staff did what? Moderate?
And if you think everyone who worked at Twitter was useful then think again, every major company is sacking useless staff right now in times where you need to assess the utilization of each staff.
This is normal in any business where you hire staff for each task but realize later that you can optimize with fewer staff.

On November 23 2022 22:37 Sermokala wrote:
Tesla does not sell millions of vehicles they sell hundreds of thousands of vehicles a year and have had to recall millions this year.

On November 23 2022 23:00 Sadist wrote:
All that said,he still appears to be an asshole/troll. Maybe he has been rich and famous for so long that it finally went to his head. It definately seems like we are seeing a lot more wealthy people going off the deepend in the last 10 years. Its kind of interesting hes gone right wing when the right never would have supported his endevours until this whole twitter thing.