Entertaining video on the downfall of Nikola https://www.youtube.com/watch?v=1oqqnkkTKVM
This is hilarious. Very creative. Thanks for sharing.
Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
101–110 of 533 posts
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#102Earlier quoted context omitted.
They used to. In the era of quantitative easing, governments just pump money into any failing major player. edit: I see I rustled some jimmies. Feel free to have a look yourself at "modern capitalism". https://money.cnn.com/news/specials/storysupplement/bankbail...
Pumping money into the market in general has the same effect. Especially if chosen inflation measures conveniently exclude capital areas money would accumulate (stocks & property).
Yes, agreed.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#103It's hard to overstate the insane difficulty of running an automotive company profitably. Tesla is an exception. I don't sympathize with Trevor, but I can understand why he did what he did. It's a fraud, but I get it why it was done.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#104How is this any different from what Elon Musk told his investors for the past decade?
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#105So he made billions on lies and he's going to keep those right?
Read the article
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#106Earlier quoted context omitted.
Even the name screams transparent fraud, a ridiculously obvious attempt to associate with Tesla. Weren't there VCs who put money into this? What were they thinking? Were they being amoral and hoping to ride this pump and dump or did they actually buy into this shit?
My first thought when hearing of the company was the J. T. Marlin "brokerage" from the movie Boiler Room . And for those viewers that didn't get the joke, the movie helpfully provides a scene where other brokers in a bar make fun of the uncanny resemblance to "J. P. Morgan". Bonus point for the ethical similarities between J. T. Marlin and Nikola.
This Nikola thing looks pretty weird indeed, but to be fair, Musk's name for his company is also not very original, since he (or whoever) also just took the dude's name even though he had absolutely nothing to do with him.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#107Earlier quoted context omitted.
> History says speculative 'investing' ends poorly Does it? If you look past the biggest scams and bubbles, I think most research shows that a moderate amount of speculation actually decreases volatility and makes market manipulation more difficult. Speculators after all are the ones who correct the prices of assets which are being wrongly valued.
Copy / paste from elsewhere but here's a recent list of speculative investing bubbles and their outcomes: The Japanese Nikkei is still down 40% from 1989. That was 31 years ago. The Shanghai Composite index is down 45% from 2007. That was 13 years ago. Hong Kong’s Hang Seng Index is down 10% from the peak in 2007. The German DAX is a “total return” index that includes dividends. So it cannot be compared to the other…
That makes it look like you would have lost money if you’d put it into those indices. Looking more closely (I only bothered with Nikkei), that seems unlikely. Compared to the full year average for 1989, it’s only down 15 percent. Or zooming even further out, it’s nearly double the eighties average today. If a peak is short lived enough, it’s unlikely to strongly affect people investing steadily.
It would be interesting looking at the peaks of 1/5/10 year averages that contain the actual peaks.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#108Earlier quoted context omitted.
My first thought when hearing of the company was the J. T. Marlin "brokerage" from the movie Boiler Room . And for those viewers that didn't get the joke, the movie helpfully provides a scene where other brokers in a bar make fun of the uncanny resemblance to "J. P. Morgan". Bonus point for the ethical similarities between J. T. Marlin and Nikola.
This Nikola thing looks pretty weird indeed, but to be fair, Musk's name for his company is also not very original, since he (or whoever) also just took the dude's name even though he had absolutely nothing to do with him.
I thought Musk joined after it had been founded? Did he change the name?
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#109Earlier quoted context omitted.
My first thought when hearing of the company was the J. T. Marlin "brokerage" from the movie Boiler Room . And for those viewers that didn't get the joke, the movie helpfully provides a scene where other brokers in a bar make fun of the uncanny resemblance to "J. P. Morgan". Bonus point for the ethical similarities between J. T. Marlin and Nikola.
This Nikola thing looks pretty weird indeed, but to be fair, Musk's name for his company is also not very original, since he (or whoever) also just took the dude's name even though he had absolutely nothing to do with him.
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Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#110Earlier quoted context omitted.
Copy / paste from elsewhere but here's a recent list of speculative investing bubbles and their outcomes: The Japanese Nikkei is still down 40% from 1989. That was 31 years ago. The Shanghai Composite index is down 45% from 2007. That was 13 years ago. Hong Kong’s Hang Seng Index is down 10% from the peak in 2007. The German DAX is a “total return” index that includes dividends. So it cannot be compared to the other…
Yes, but what about all the speculation that happened that didn't lead to bubbles and actually led to improved market efficiency? My point is that you can't just look at the most obvious examples of past bubbles with full hindsight and say that all speculation is a net negative because of those.
Yes, of course, some speculation can lead to improved market efficiency. I suppose we should define at what level of speculation deems a speculative market.
"I think most research shows that a moderate amount of speculation actually decreases volatility and makes market manipulation more difficult."
I'd be interested to read such research.
To me, this current craze (Stocks, housing, crypto, etc) just doesn't pass the sniff test. It just seems off. Has for a long time. Something has to give. It doesn't make sense. I tell my friends, either things correct in a large way or we're going to be eating $50 cheeseburgers. Again, who knows!? If you did, you could make a killing.