Elon Musk Is A Carnival Barker At Best, A Criminal At Worst
The retail trading crowd views Elon Musk as a populist hero. The reality is Musk is a carnival barker and borderline fraudster in the vein of WeWork founder Adam Neumann. Mr. Musk got off easy under lax former SEC Chairman Jay Clayton. Recall in August 2018 when Musk posted on Twitter that he had secured funding to take Tesla private (see several of Musk’s Tweets below). Were Musk not the poster boy for Green Tech under former President Trump (below), he likely would have received more than a slap on the wrist. When Mr. Musk isn’t smoking weed with Joe Rogan, or over-promising and under-delivering regarding Tesla (example: Tesla “Battery Day” 2020, where’s the battery?), he pumps up stocks on Twitter (GME, ETSY). Martha Stewart served jail time for an insider trade that enabled her to avoid losses of $45,673 in December of 2001. Here, Musk makes a mockery of the capital markets while moving billions in market cap. Who will pay the price for stocks whipsawed as a result of Pied Piper Elon Musk? Ultimately, the retail trader. Who enabled this froth? The Federal Reserve. All bubbles eventually burst.