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2021 Person of the Year: Elon Musk [Time]
“Sometimes I do hit some resonant notes with respect to humor,” Musk says of his puerile expressions…. “But you know, not all jokes land.”
This is the man who aspires to save our planet and get us a new one to inhabit: clown, genius, edgelord, visionary, industrialist, showman, cad; a madcap hybrid of Thomas Edison, P.T. Barnum, Andrew Carnegie and Watchmen’s Doctor Manhattan, the brooding, blue-skinned man-god who invents electric cars and moves to Mars.

Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal [WSJ]
Dave pursued a public listing, in part, because it wanted to better position itself to acquire other nonbank consumer finance companies in the years ahead, Mr. Beilman said. The SPAC deal provides Dave with both capital and stock to bid for other companies, he said.
“We do see ourselves over the next couple of years being a consolidator in the space,” [CFO Kyle] Beilman said.

Harley’s electric motorcycle division to go public via $1.7 billion SPAC deal [Reuters via CNBC]
The company launched LiveWire earlier this year, hoping to claw back lost market share as its core baby boomer customer base grows older and interest in motorcycling as a recreational activity fades…. “If anything this underlines what we’ve been saying for a long time. Detroit, wake up! The train has left the station! EVs are inevitable,” Roth Capital analyst Craig Irwin said.

Meme Stock Traders Thrilled by DOJ’s Criminal Probe of Hedge Funds [Bloomberg]
“A lot of stocks have been held down, or a lot of companies that have fundamentals basically don’t move,” said Jeff Robinson, a 40-year-old retail investor from Bakersfield. “You have a lot of retail investors that have their hands in the air. They just look at it as this market isn’t going to move until they rectify short selling….”
“We’ve been going crazy trying to get Gary Gensler’s attention,” said Michael Arevalo, a 31-year-old day trader from New York City. “The report is not helping us at all. They kind of lead us with this little dangling fruit and we get to the fruit and nothing came from it.”

Bond Traders Stare at Worst Real Returns Since Volcker Era [Bloomberg]
The dynamic isn’t expected to change: The bond market is projecting that 10-year Treasury yields will hold below the inflation rate for the next decade, meaning any investment income will be more than wiped out by the rising cost of living…. “People have accepted negative real returns for a long period of time,” said Greg Whiteley, portfolio manager at DoubleLine Group, which oversees $137 billion in assets. “Despite the fact it may seem peculiar, maybe this is something we have to adjust to as the new normal. The long-term secular drivers are still in place, and they are still going to be powerful.”’s C.E.O. is ‘taking time off’ after firing 900 workers over Zoom. [NYT]
The mortgage lender’s board announced in a memo sent to staff on Friday that Mr. Garg was “taking time off” after the “very regrettable events….”
[Former underwriting trainee Christian] Chapman said that the chief executive’s messaging about fired employees “stealing” from the company by working only two hours a day — which the former employee said was contradicted by his team’s recent promotions and raises — had made it challenging for them to apply for new jobs.


Elon Musk Smoking

Opening Bell: 10.26.21

Trillion-dollar club members look askance at new entrant; DraftKings’ bet on Ladbrokes busts; buyout bonus bonanza; and more!


Opening Bell: 9.29.17

Elon Musk wants to be Rocket Man; Roku IPO goes vertical; the Trump Trade is back; Thomas the Tank Engine is a cruel, repressive nightmare; and more.

lake mead

Opening Bell: 9.23.20

September stutter; SPAC strikes; water woes; Elon equivocates; and more!

dogecoin 2

Opening Bell: 5.10.21

Vice stocks; Wood’s regrets; the sooner the crypto trance fades the better; and more!

Elon Musk Smoking

Opening Bell: 7.10.20

Icahn sticks it to Buffett; Elon sticks it to everyone; Steve Cohen sticks it to other Mets bidders; and more!

grand tetons

Opening Bell: 8.24.21

Jackson Hole calling (virtually); another space SPAC; China troubles; Elon Musk thinks Elon Musk’s self-driving software sucks; and more!


Opening Bell: 10.1.20

The excised Elect; London losses; Playboy goes public (via SPAC, obviously); when bread is not bread; and more!

By DonkeyHotey (Mitch McConnell - Caricature) [CC BY 2.0], via Wikimedia Commons

Opening Bell: 4.6.21

Threats, bits, bets, bromances, billions and more!