- May 21, 2001
TSLA may very well be worth $700/share in 10 years. But to buy it now is just dead money that isn't doing you anything. It is better to invest the money elsewhere, make a profit, and buy TSLA in 10 years when the company might actually worth that $700/share.everyone: I want to buy TSLA but it's so high. When should I buy it?
me: If there is correction, buy it and never sell. TSLA is going to change the world and worth lot more in the future.
today: TSLA dropped over 30% from the high. People who were so eager to buy TSLA are no where to be found. They're scared. They want to buy when it's high yet don't want to buy when it's low. Funny how that works.
Telsa's profits now come entirely from (a) other car companies paying Tesla for electric car credits and (b) rising bitcoin. Profit (a) is going the way of the dodo bird as other companies switch to electric and no longer have to pay Tesla to balance out their lineup. Profit (b) is highly speculative and could just as easily turn to a billion dollar loss.
I'm not catching this falling knife. I'd rather pick it up off the ground.