Every time I start writing this post, Tesla jumps to my mind. As does the year 2000, which coincided with the start of my career and my growing up. I knew I was grown up because at the convenience store I would reach for “The Economist” instead of “Playboy”. Big step. I also started to watch the stock market.

I didn’t understand the nuances but it seemed if you bought anything, it went up. Pets.com was a concept website for your pet. It IPO’d for $82.5 mm after spending $1.2 mm on a Super Bowl ad and had $615,000 in revenue. True story. Sounds ridiculous, doesn’t it? Needless to say, the business went broke shortly after and when the bubble burst, all these in paper millionaires that I worked with who hadn’t sold went back to their normal life with no wealth and only a salary.

I thought to myself – this could never happen again. How can people be so divorced from logic? How can analysts write garbage reports singing praises only to cut their targets after the stock falls 80%? How could this Ponzi scheme be legal?

For some years, things were bad… but then the housing market became the new stock market and people were killing it, strippers owned 5 houses and things were great. Until they weren’t.

Never again, I thought. Which brings me to TSLA.

#hottakeoftheday