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Jacob Steinberg

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  • Are Yelp's Investors Cheering For Slowing Growth And Lack Of Profitability? [View article]
    I think valuations will start mattering more soon because QE is getting tapered. Most of the fuel for bubbles like Yelp came from QE in the last couple years. Once the excess liquidity is gone, many bubbles will start popping.
    Feb 6, 2014. 10:41 AM | 4 Likes Like |Link to Comment
  • Why Is Almost Everybody In The Auto Industry Afraid Of Tesla Motors? [View article]
    "Detroit has developed advanced electric technology and then suppressed it because they projected it to be unprofitable to make the change. Musk has shown how to make money building an electric car, and that is what is truly revolutionary."

    Not really because Tesla has yet to make a penny of a profit in its history. McDonald's makes more profit per hamburger than Tesla makes per car. How is that profitable?
    Dec 28, 2013. 04:53 PM | 4 Likes Like |Link to Comment
  • Why Bears Are So Wrong About Tesla [View article]

    "Your rant does not change the fact that your statement was deliberately misleading. Saying tesla loses money per car it sells implies it is selling the cars below cost. "

    Not really, I already explained you the difference between gross margins and operating margins. Do I need to explain it again?

    Besides, when you look at "cost" of a car, do you only count the actual cost of building the car? How about sales costs, administration costs, research costs? Are those costs not associated with the car? I guess they don't count in the "Tesla universe" where everything is perfect and hype takes the front seat while reality takes a back seat.
    Dec 20, 2013. 04:26 PM | 4 Likes Like |Link to Comment
  • Why Bears Are So Wrong About Tesla [View article]
    That sucks for GM. Maybe they will purchase batteries from Tesla in the future.

    Let's see how Tesla's Gen III performs when/if it comes out in 2017-2018. If Tesla can build a $35,000 electric car with a range of 200 miles and make a profit on it, all the skeptics including myself will become long. That's a big if and I hope they accomplish it.
    Dec 20, 2013. 03:33 PM | 4 Likes Like |Link to Comment
  • Tesla Motors Has 30% Downside, Lululemon's Key To Earnings, And What's Next For The Market [View article]
    While it will probably attract many attacks over the next 24 hours, this was an informative analysis.

    Tesla is a great car, maybe the safest car on the road, very innovative and carries a lot of things many other cars don't, but we need to be able to separate the car, the company and the stock from each other. Tesla is a great car, Tesla Motors is a great company but TSLA is overvalued, plain and simple.
    Dec 9, 2013. 05:12 AM | 4 Likes Like |Link to Comment
  • Microsoft slumps as Ford director says Mulally staying until end of 2014 [View news story]
    Ballmer said he will stay until a suitable replacement is found so it might be another year before he leaves.
    Dec 5, 2013. 11:04 AM | 4 Likes Like |Link to Comment
  • Tesla: Learn From The Mess [View article]
    "I own the car. I love the car. I am short the stock.

    The car is not the stock. The stock is not the car. The car is not the company. The company is not the car. And, believe it or not, the company is not the stock and the stock is not the company."

    This is absolutely true. I hate Microsoft's buggy products, but I am long the stock because the company is a cash cow with nice valuation.
    Nov 19, 2013. 07:19 AM | 4 Likes Like |Link to Comment
  • 4 Reasons I Am Skeptical Of Elon Musk's Calculation [View article]
    "Sorry you are dead wrong on this one. They are in fact younger. Probably also drive it like a sports car since it is so fast."

    The link you gave me says that nearly one third of Tesla owners are younger than age 44, which means more than two thirds of Tesla owners are older than 44. The average car owner in the country is much younger than that. How am I dead wrong?
    Nov 14, 2013. 10:58 AM | 4 Likes Like |Link to Comment
  • Tesla Motors Investors Are Ignoring The Facts [View article]
    leopardtrader don't underestimate the power of institutions. Do you think it was retail investors that pushed Tesla's price from $25 to $190? Not even close, retail investors make a tiny, tiny percentage of total volume. Retail investors hardly make a difference in determining value of a company.

    The market is still dominated by institutional investors and they are the ones that actually move stocks. Besides, even if institutional ownership might not always constitute a buy-sell signal, a ridiculous valuation (like Tesla's valuation) clearly does.
    Nov 11, 2013. 01:51 PM | 4 Likes Like |Link to Comment
  • Will Tesla Solve Its Battery Problem? [View article]
    And there might be even more fires. We have photos/documents from 3 fires but what if there are more fires that never got documented. This can get scary if the trend continues.
    Nov 7, 2013. 03:36 PM | 4 Likes Like |Link to Comment
  • Tesla's Painful Journey Into The Valley Of Death [View article]
    Maybe Elon Musk will start a battery company separately from Tesla, who knows.

    He can call it "Super Cool Battery X" or something trendy like that.
    Nov 7, 2013. 03:21 PM | 4 Likes Like |Link to Comment
  • Tesla's Painful Journey Into The Valley Of Death [View article]
    Another great article. I remember when you first published your article talking about Tesla's battery problem, you got a lot of hostile responses from hundreds of Tesla investors. It turns out that your assessment was pretty accurate and many people were wrong. Now Tesla has a big battery problem to deal with and its valuation will depend heavily on this problem.
    Nov 7, 2013. 03:16 PM | 4 Likes Like |Link to Comment
  • Did Tesla Have A Disaster Quarter? [View article]
    Similarly, a lot of this quarter's deliveries might be last quarter's production. Especially the ones that were just delivered to Europe.
    Nov 6, 2013. 08:00 AM | 4 Likes Like |Link to Comment
  • Tesla Myths Won't Stop Its Path To $500 Per Share [View article]
    "If Tesla can make and sell 500,000 cars in a year, everybody at that point will expect that it can and will sell much more than that."

    Yes but that's a big IF. If Tesla can't reach its goals, things could go VERY bad from there. There is a huge risk involved and we have to discount for both time and risk, so even if Tesla might be worth $500 in 10 years, it would translate into $100-130 at most today.
    Oct 31, 2013. 06:11 PM | 4 Likes Like |Link to Comment
  • Will Yelp Ever Be Profitable? [View article]
    I think Google will be eating Yelp's lunch soon enough. Google Maps allows people to post reviews on local businesses and it seems to be more user friendly (and reliable) than Yelp.
    Oct 29, 2013. 05:53 PM | 4 Likes Like |Link to Comment