QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

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Thread: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

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    QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Business Week
    April 12, 2019



    Hedge fund investor David Einhorn took a victory lap after a long held Tesla Inc. short position boosted returns for Greenlight Capital in the first quarter.

    “The wheels are falling off,” Einhorn wrote in a letter to investors Friday. He criticized Tesla for touting its cars as the safest available while marketing its driver-assistance system Autopilot in ways that confuse consumers about its capabilities. And Einhorn said Chief Executive Officer Elon Musk has overstated how much demand there is for Model 3 sedan.

    Einhorn, 50, has been public about being short Tesla going back at least three years. Greenlight’s bet against the company contributed to 2018 being its worst year on record. Tesla shares rose 6.9 percent last year and surged 46 percent in 2017.

    Tesla fell 16 percent in the first quarter of this year. Einhorn referred to comments Musk, 47, made to Axios in November that the company came within weeks of running out of money when it was struggling to ramp up production of the Model 3. He said the electric-car maker may be back in a similar position.

    “Musk never admits the crisis in real time,” Einhorn said. “We believe that right here, right now, the company appears to again be on the brink.”

    A Tesla spokesman didn’t immediately respond to a request for comment.







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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    “Musk never admits the crisis in real time,” Einhorn said. “We believe that right here, right now, the company appears to again be on the brink.”
    Fast forward a few days/months/quarters/years from now and people will be blaming hedge fund managers for the demise of Tesla...but I think there is only one person responsible...and oddly, there has not been a lot of communication from him lately, government stipulations or not.

    The recent, almost weekly price and equipment changes have to now be taken as an almost certain sign of desperation.

    Bottom line, something is not right at Tesla. Buyer beware...if you are interested, you might want to go with the newly available leasing option and protect yourself.












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    Nothing new here, I'm actually shocked how long Tesla has managed not to go under, it's rather impressive

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    I think Tesla expected sales to expand into China and EU, but a global slowdown may start to pile up cars in the factory parking lot. He's already turned off Base model 3 ($35k) cars from on-line sales to keep the profits up.

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by Perian View Post
    The recent, almost weekly price and equipment changes have to now be taken as an almost certain sign of desperation.
    I agree. GM's various avenues of discount pricing (employee, supplier, GM card, cash back, loyalty lease, competitive discount, etc.) make for a maze of pricing guidance. They must be very desperate for business, I mean, how many more discounts can you provide...
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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by joey View Post
    I think Tesla expected sales to expand into China and EU, but a global slowdown may start to pile up cars in the factory parking lot. He's already turned off Base model 3 ($35k) cars from on-line sales to keep the profits up.
    Oh no, who's going to replace them as top market share holder for the luxury car market in the US??? Gosh, I sure hope Cadillac takes advantage of this market opportunity.
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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Hasn't this been announced monthly for the past 4 years??? It's over folks. Telsa might have some hiccups but they're going to keep going. Even if Musk runs out of money he has plenty of VERY VERY VERY rich friends who can front for quite a bit.

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    At this point the brand is entrenched into pop culture. Another major company would bail them out.
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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by Cobaltss_King View Post
    At this point the brand is entrenched into pop culture. Another major company would bail them out.
    They may go bankrupt, but they will be snatched up regardless.

    I hope they succeed, but they also annoy me.....
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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    I'll take a company/industry insider's word over a short selling hedge fund manager...he's just trying to toot his own horn. Pass
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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by sdotjeezy View Post
    I'll take a company/industry insider's word over a short selling hedge fund manager...he's just trying to toot his own horn. Pass
    Been playing the short game for 3 years. He might get it right one of these days but this kind of crap is normal in the hedge fund game.

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by CJH View Post
    They may go bankrupt, but they will be snatched up regardless.

    I hope they succeed, but they also annoy me.....
    I feel the same way. I'd be way more of a supporter if it wasn't for the insufferable s o b running the show. Tesla would be in so much better shape if he wasn't involved in any way.

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Quote Originally Posted by GMOwner View Post
    I agree. GM's various avenues of discount pricing (employee, supplier, GM card, cash back, loyalty lease, competitive discount, etc.) make for a maze of pricing guidance. They must be very desperate for business, I mean, how many more discounts can you provide...
    There is a difference between lets say toyotas maze diacounts and offers accross a portfolio of over 50 models, not a compay with barely 3 models and not even meeting its supposed 500,000 sales of pre-ordered cars.

    I wish Tesla well, I am impressed by their acomplishments so far. this is a difficult business

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    I have never heard of a short strategy over three years. He does not know how to time the market

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    Re: QOTD: Fund Manager On Tesla "The Wheels Are Falling Off"

    Tesla is here to stay. The incentives are coming back and with the oil prices steadily climbing, there will be more and more people buying them.

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