Without a doubt, Tesla is the cult stock of the Millennial and Gen Z generations. The young adults view Elon as a god—the Nikola Tesla of our time. Meanwhile, the Gen X and Boomer generations don’t appear to have the same fervor as their children do. I’d speculate that the majority of them don’t know how to accurately value Tesla with traditional financial metrics. Reading through various analyst reports you could come to the conclusion that analysts are in the same boat.
I’d rather be a tourist in a big city than a permanent resident.
They’re expensive, crowded, have higher crime rates, more pollution, traffic, and typically smell like shit. Sounds enticing.
Today, about half of the world’s population lives in urban areas. There are 400 cities with more than a million people. Roughly 80 percent of Americans live in urban areas, according to the U.S. Census Bureau. What’s strange though, according to Gallup, is Americans don’t want to live in big cities. They want to live in rural areas.
As Bob was painting one of the happy little trees, he mentioned one of his famous mantras “We don’t make mistakes, just happy little accidents”. I couldn’t help but laugh at how simple his idea was. If only I could repeat that mantra every time I made an investing mistake, life would be much better.
The market has turned south so fast and so hard that it’s almost impossible to comprehend. On Thursday, we saw the worst single-day decline since the crash of 1987. Michael Batnick published a post that showed this is the fastest bear market in history. It took 19 days for the Dow Jones Industrial Average to drop 20%. I can’t even read a 300-page book in 19 days.
Social norms change drastically over time. Even just a cursory review of the previous 25, 50, or 100 years can give us a decent understanding of how societies have changed over time—for better or worse. Most of these changes have come in the face of accepted science, emerging technologies, and a deeper understanding of the world around us through the dawn of the Information Age.
I originally posted this thread on Twitter but decided to alter it slightly for the blog. Also, I wanted to keep it in the archives in case Twitter ever gets shut down or bans me. It is a work of art that must be preserved.
Without further ado, I present WeOffice: The Rise and Fall of WeWork. Told through a series of GIFs from The Office.
Starring Michael Scott as Adam Neumann.
Nearly my entire investing career has been focused on the public markets. I work for a private employee-owned company but I’ve never invested in any private companies outside of my own.
Recently, I started to become more interested in tech startups and private markets—mostly because of the hot IPO market in the last two years. I wanted to get involved early and see a different side of investing. I also wanted to diversify across different markets to generate alpha.
