The Swamp

Best thing I have seen from the Ringer in months. Really good read:

https://www.theringer.com/2021/2/16/222 ... ll-referee

tennbengal wrote: ↑Tue Feb 16, 2021 8:22 pm Best thing I have seen from the Ringer in months. Really good read:

https://www.theringer.com/2021/2/16/222 ... ll-referee

Great read. Really glad for that guy featured in the story. Seems like a good guy.

And, I noticed that Michael Burry is also featured in this story. You may recall that he was prominent in the book and movie The Big Short (Christian Bale portrayed him), and according to this article, made another billion on Game Stop. Sheesh. He is (was?) married to a woman who was my admin assistant 20 years ago. I sat next to him at an office Christmas party dinner. I thought he was a lunatic, but I guess I should have paid more attention to what he was saying.

sancarlos wrote: ↑Tue Feb 16, 2021 8:44 pm

tennbengal wrote: ↑Tue Feb 16, 2021 8:22 pm Best thing I have seen from the Ringer in months. Really good read:

https://www.theringer.com/2021/2/16/222 ... ll-referee

Great read. Really glad for that guy featured in the story. Seems like a good guy.

And, I noticed that Michael Burry is also featured in this story. You may recall that he was prominent in the book and movie The Big Short (Christian Bale portrayed him), and according to this article, made another billion on Game Stop. Sheesh. He is (was?) married to a woman who was my admin assistant 20 years ago. I sat next to him at an office Christmas party dinner. I thought he was a lunatic, but I guess I should have paid more attention to what he was saying.

When you back to the future yourself, go back to that office Christmas party dinner and make different choices...

tennbengal wrote: ↑Tue Feb 16, 2021 8:57 pm

sancarlos wrote: ↑Tue Feb 16, 2021 8:44 pm

tennbengal wrote: ↑Tue Feb 16, 2021 8:22 pm Best thing I have seen from the Ringer in months. Really good read:

https://www.theringer.com/2021/2/16/222 ... ll-referee

Great read. Really glad for that guy featured in the story. Seems like a good guy.

And, I noticed that Michael Burry is also featured in this story. You may recall that he was prominent in the book and movie The Big Short (Christian Bale portrayed him), and according to this article, made another billion on Game Stop. Sheesh. He is (was?) married to a woman who was my admin assistant 20 years ago. I sat next to him at an office Christmas party dinner. I thought he was a lunatic, but I guess I should have paid more attention to what he was saying.

When you back to the future yourself, go back to that office Christmas party dinner and make different choices...

Yes, advise her to stop putting her vagina on crazy.

That feels like that would have been bad advice.

Didn't want to spam the hell out of this thread over Gamestonk these last few weeks, but it's recovered and the stock market is a damn casino. This whole thing has been a ride to watch from the sidelines.

Diamond hands!

Make me a little sick to my stomach.

https://www.google.com/amp/s/www.cnbc.c ... -2021.html

Many would say you borrow into an inflationary period and buy assets. Don't see how the govt can pump so much money into the economy and not cause inflationary pressure. Any ideas? Have to be able to access a loan so hard assets that can collateralize mostly. What can one borrow on that's not RE or cars? Ideally something that doesn't depreciate quickly or at all.

Top Shots.

seems very important given, you know, a pandemic

While the inflation numbers look high, many economists as well as policymakers at the Federal Reserve expect the increase to be temporary. April likely also will show a sharp rise, but then the numbers are supposed to decrease as the worst months of the shutdown fall out of the data comparisons.

Their opinion is wrong.

I think it's fair to be concerned about inflation long-term but these numbers were predicted as a result of the stimulus and the fact that you're not comparing apples to apples when you're talking about March 2020 when deflation was a concern (because no one was buying almost literally anything other than essentials) and March 2021 where we're coming out of the pandemic.

If inflation normalizes to what would be relatively high compared to recent history, but not anything particularly insanely worrisome like around 2-to-3 percent then all is well. If we're still talking about 7 or 8 percent inflation in June, then maybe it's time to worry.

At this point, if inflation approaches even something like 5 percent it might not be the end of the world if it results in the Fed starting to raise interest rates again. They've been held artificially low for so long, the Fed has no other tools in its toolkit other than massive stimulus to combat recession. The Fed's federal funds rate should be a hell of a lot closer to 3 or 4 percent than 0 percent. If that means Wall Street has to take a bit of a haircut, too fuckin' bad.

Think that's right. Those guys didn't do much of anything for almost 10 years of growth.

brian wrote: ↑Tue Apr 13, 2021 1:59 pm At this point, if inflation approaches even something like 5 percent it might not be the end of the world if it results in the Fed starting to raise interest rates again. They've been held artificially low for so long, the Fed has no other tools in its toolkit other than massive stimulus to combat recession. The Fed's federal funds rate should be a hell of a lot closer to 3 or 4 percent than 0 percent. If that means Wall Street has to take a bit of a haircut, too fuckin' bad.

I'd be ok with this, now that my refi has closed. And, to your point, I agree stocks would definitely suffer, as people shifted investments out of equities into bonds and other fixed income.

I know less than nothing about stonks, but Tesla might dip a bit.

Not because of this story necessarily but because of the line "Herman said it took firefighters four hours and more than 30,000 gallons of water to extinguish the fire.

At one point, crews had to call Tesla to ask how to put the fire out, Herman said."

Did someone mod a Tesla to use gas?

brian wrote: ↑Sun Apr 18, 2021 3:28 pm Did someone mod a Tesla to use gas?

Right? Something seems odd.

The battery just kept reigniting.

Johnnie wrote: ↑Sun Apr 18, 2021 4:05 pm The battery just kept reigniting.

Yes, batteries can catch fire in extreme conditions. And it can be a runaway fire if you really do something stupid like not have anyone in the driver's seat and get it wrapped around a tree at high speed.

When was the last time it was "news" when a gas powered car caught fire? Thought we were passed this nonsense.

Disclaimer: long TSLA

Also: https://www.tesla.com/VehicleSafetyReport

Model S, Model X and Model 3 have achieved the lowest overall probability of injury of any vehicle ever tested by the U.S. government’s New Car Assessment Program. Much of this has to do with the rigid, fortified structure of the battery pack that is mounted to a car’s floor, which provides a vehicle with exceptional strength, large crumple zones, and a uniquely low center of gravity. Because of their strength, Tesla’s battery packs rarely incur serious damage in accidents. And, in the extremely unlikely event that a fire occurs, the state-of-the-art design of our battery packs ensures that its safety system works as intended and isolates a fire to select areas within the battery while simultaneously venting heat away from the passenger cabin and the vehicle.

No system is foolproof though.

I'm not trying to shit on Tesla, mind you.

I honestly want one but they're so expensive for me still.

I just found the story intriguing and figured I'd share it.

Johnnie wrote: ↑Sun Apr 18, 2021 5:15 pm I'm not trying to shit on Tesla, mind you.

I honestly want one but they're so expensive for me still.

I just found the story intriguing and figured I'd share it.

Any saltines in my response wasn't intended to be aimed at you, my apologies.

Just tired of the media doing this every time a moron does something stupid with a Tesla. And I get it, it's clickbait.

Hopefully the prices continue to gradually drop by the time you're ready to retire. They're definitely price competitive against other new cars, especially once you factor in minimal maintenance, etc.

So, right now my wife is driving a 2010 Ford Escape (hybrid). My 20 year-old daughter doesn't have a car. We will probably give her my wife's old car at some point and buy the wife a new ride. She's making noises now about wanting to consider a Tesla.

no

eta: even if you think a Tesla is worth it (sorry phxgators, I don't think it is) don't give EM the oxygen. congrats on inventing the tunnel, dude.

You can debate whether you think it's worth it. I clearly do, for lots of reasons.

I've got lots of issues with EM myself, but the tunnel argument is silly. Rockets existed, cars existed. Doesn't mean there wasn't a better product to be made.

I guess I'll ask it this way then ... what's significantly better about anything that Tesla has done so far? (and I ask that genuinely)

my tunnel argument is made half tongue-in-cheek because I find it absolutely mystifying how cars through tunnels is seen as a better alternative than the already established and way more efficient public transportation via tunnel system cities across the country have.

SpaceX feels like the capitalization on a market void left by NASA and the one space (lol pun) where there was ample advantage left to be taken. but everything else Tesla has done sure feels like a lot a hat for a little cattle. and it's fair to wonder what scale the company is at without the personality cult that's undoubtedly elevated it

Yes, there is a cult atmosphere around Tesla and, more specifically, Elon Musk. It's toxic. But also should not be a reason to not buy a Tesla. There has been a ton of misinformation about the company over most of the last decade. Short sellers kept the stock price suppressed for years, only recently shedding some of that influence with turning to sustained profitability.

For me, personally, there are several things that are better.

* I haven't pumped gas for my car in over two years. Gas engines are terribly inefficient, powering from home is much more efficient. Especially when considering part of my electricity comes from solar.
* Cost of maintenance is virtually $0. I have paid $125 since September 2018 on maintenance for 2 tire rotations at @$62.50 each. That's it. No oil changes, nothing.
* Oh, and service comes to me, I've had the work done in the parking lot at work.
* My car gets routine software updates, it is unequivocally a better can than when I bought it with tons of new features and updates. This includes software updates that have made the car more efficient, extending the range and power.
* Autopilot (not to be confused with Full Self Driving) is a life changer. I didn't really think I would use it that much, tbh. But when you start using it you notice all the little micro corrections you make when you're driving. Driving fatigue on longer drives drops dramatically. Pre-covid, I'd go on-ramp to off-ramp on Autopilot going to Rapids games. 35 miles with two freeway transitions. Usually no intervention at all except to confirm lane changes or acknowledge that I was still there.
* Safety. They are the safest cars on the road (https://www.tesla.com/blog/model-3-lowe ... sted-nhtsa, https://www.tesla.com/blog/model-y-achi ... ting-nhtsa)
* My car, personally, has automatically avoided 2 high-speed freeway accidents from cars making erratic lane changes that I did not see. Both while on Autopilot. Both with my whole family in the car. Both with no intervention from me.
* It's goddamned fun to drive.

I'm in a position where I can spend a little extra to drive a more environmentally friendly car, while being safer, so I choose to.

If you're considering, at all, buying a Tesla, there are several states that offer a tax credit (CO had a $5K credit when I bought mine, not sure if it's still there or not. There is an expected $7500 federal credit coming back under Biden, we'll see.). Even without those, if you consider fuel and maintenance savings it helps make up some for the price of the car (currently ~$38k for a base RWD Model 3). Also, and it's not why I'm writing this, but I do have a referral code that usually gets both parties some free supercharging if anyone is ever interested. I rarely need to use the charging network, so it really doesn't get me anything useful. But it might be useful for you.

Aside from their cars, they have Semis coming, an improvement on one of the bigger polluters on our roads. And if they are ever able to scale their battery technology (far and away better than any competitor) enough to do massive scale battery storage, beyond what they can do now, it will help speed a transition to large scale solar and wind power.

You mentioned scale, they are building/expanding 3 factories on 3 continents, in addition to their original factory in CA. They are really at an inflection point where they are generating enough cash flow to fuel exponential growth.

One last point - They are still selling every car they can make. Current delivery time on a Model 3 is 6-8 weeks (though in my experience, they often become available a little quicker than their estimate)

phxgators wrote: ↑Mon Apr 19, 2021 10:17 amAside from their cars, they have Semis coming...

Sounds like they aren't the only ones ; P

I'd love to get a Model S, but I just can't justify spending that much on a car. Considered the Model, but it just wasn't ready when I needed to buy a new car. I have several friends with Teslas, and they all rave about how much they love it. What I like most is Musk makes all of the technology publicly available. He could have gotten hundreds of patents and kept technology to himself, but he publishes it so others can make better electric vehicles, because he'd rather improve the technology and make electric cars more accessible than keep it to himself for profit. It may ultimately be his downfall, but I don't think he cares. He is a weird dude, for sure.

The investor part of me does worry about that, but their pace of innovation keeps them ahead, I guess. We keep hearing about the upcoming "tesla-killers", but they've been coming for years now. The Audi, Porsche, etc EVs are great additions to the market, but still behind Tesla. Glad we're finally seeing more options.

Completely agree on the Model S. Briefly considered it, but couldn't justify it. And I've heard lots of S drivers enjoy the 3 more anyway. I had one as a loaner when getting my Autopilot CPU upgraded (free), and I liked my car more.

Like I said, I have plenty of issues with Musk. At his heart though he is an engineer. He exhibits the best and worst traits (in extreme ways) of that.

A physics degree doesn’t make you an engineer!


(Sorry I work with a lot of engineers)

I’d like to note a significant advantage Tesla has over other electric cars. They have super fast charging stations positioned strategically around the country (generally in shopping center parking lots), which helps a great deal on trips. Other electrics aren’t compatible with these stations. I don’t know how common they are in other parts of the country, but they are very common up and down the west coast.

Johnnie, can you put your autoplay behind a spoiler link?

Brontoburglar wrote: ↑Mon Apr 19, 2021 9:11 am I guess I'll ask it this way then ... what's significantly better about anything that Tesla has done so far? (and I ask that genuinely)

my tunnel argument is made half tongue-in-cheek because I find it absolutely mystifying how cars through tunnels is seen as a better alternative than the already established and way more efficient public transportation via tunnel system cities across the country have.

SpaceX feels like the capitalization on a market void left by NASA and the one space (lol pun) where there was ample advantage left to be taken. but everything else Tesla has done sure feels like a lot a hat for a little cattle. and it's fair to wonder what scale the company is at without the personality cult that's undoubtedly elevated it

Before Tesla electric cars were generally awful looking garbage cars with terrible range. When Tesla came out with the Roadster they changed all of that. Now with the tech and everything else in the cars, Tesla has basically dragged the entire market into the modern era. I would compare them to the impact of the iPhone in 2006 or whenever that was.

govmentchedda wrote: ↑Mon Apr 19, 2021 11:48 am Johnnie, can you put your autoplay behind a spoiler link?

Which post? Nothing autoplays for me.

The Reddit

Done

brian wrote: ↑Mon Apr 19, 2021 4:23 pm The NJ deli with $13K in sales valued at $100M.

Pay walled, what's the gist? Money laundering scheme?

The Sybian wrote: ↑Mon Apr 19, 2021 4:33 pm

brian wrote: ↑Mon Apr 19, 2021 4:23 pm The NJ deli with $13K in sales valued at $100M.

Pay walled, what's the gist? Money laundering scheme?

Dude. Get a subscription to Defector.com already.

But here's a CNBC article about it.