By creating a form of stock that can only be bought and held by people who think it is undervalued, Elon Musk has invented a new and mathematically guaranteed form of prosperity. A veritable pyramid of wealth!
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In seriousness, though, I don't understand the moralizing about short-sellers (either in connection to Tesla, or during the 2008 crisis). Isn't that supposed to be an essential component of correctly pricing things?
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The absence of an accessible mechanism for making money off of a correct prediction that something is overvalued is a good way to end up with a bubble
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Especially when the cost is so high to make it not worth doing. I predicted
@blockbuster decline in 2004 but short selling is only profitable for relatively short time windows.Thanks. Twitter will use this to make your timeline better. UndoUndo
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