Carson Block quit shorting Tesla because of a dream
I have to say it was a long journey since Muddy Water started the battle with $Tesla (TSLA.US)$. Obviously Musk become the winner. This might not acctually be a dream, but a miracle to save muddy water from keep losing money.
Here is the comment from Yahoo Finance:
In his first-ever investor letter after nearly six years of managing money, Block shared a story about a dream he had last week about a canceled meeting (not on the docket in real life) with Palihapitiya, whom he's repeatedly called "SPAC Jesus" after the investor Tweeted his top priorities of inequality and climate change, which Block called "faux populism."
"Anyway, there I was in my dream waiting for him to show up when his assistant arrived instead. She told me with bureaucratic relish that Chamath would not be meeting me after all. Then after a few scenes of a Los Angeles that doesn't actually exist, I woke up at 3 a.m. in a panic. I had a revelation – one that I still believe is true several days, and many hours of sleep, later,"
Because of that dream, Block had a realization that in order to de-carbonize the economy, interest rates "must stay at ridiculously low levels," which he believes will be the case for the "coming few decades," thus spurring investment in technologies to de-carbonize. Block also thinks it will also be the "express policy" of central banks such as the European Central Bank, Bank of Japan, and the Federal Reserve. That said, he doesn't think government-directed spending on these sorts of technologies is the answer, but the low rate environment bodes well for Tesla.
https://finance.yahoo.com/news/carson-block-muddywaters-investor-letter-on-elon-musk-and-tesla-164244661.html
Here is the comment from Yahoo Finance:
In his first-ever investor letter after nearly six years of managing money, Block shared a story about a dream he had last week about a canceled meeting (not on the docket in real life) with Palihapitiya, whom he's repeatedly called "SPAC Jesus" after the investor Tweeted his top priorities of inequality and climate change, which Block called "faux populism."
"Anyway, there I was in my dream waiting for him to show up when his assistant arrived instead. She told me with bureaucratic relish that Chamath would not be meeting me after all. Then after a few scenes of a Los Angeles that doesn't actually exist, I woke up at 3 a.m. in a panic. I had a revelation – one that I still believe is true several days, and many hours of sleep, later,"
Because of that dream, Block had a realization that in order to de-carbonize the economy, interest rates "must stay at ridiculously low levels," which he believes will be the case for the "coming few decades," thus spurring investment in technologies to de-carbonize. Block also thinks it will also be the "express policy" of central banks such as the European Central Bank, Bank of Japan, and the Federal Reserve. That said, he doesn't think government-directed spending on these sorts of technologies is the answer, but the low rate environment bodes well for Tesla.
https://finance.yahoo.com/news/carson-block-muddywaters-investor-letter-on-elon-musk-and-tesla-164244661.html
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