1) Tesla retail investors' strong belief in Tesla stock TSLA
This amazing story from Bloomberg about Korean "mom-and-pop" investors who see Tesla stock (and Elon Musk) as their saviour from crippling income inequality
A couple of worrisome examples from the article:
Park Sunghyun and her husband sold their home in Seoul, moved into a rental apartment with their 7-year-old son, and plowed the family’s $230,000 of savings into shares of Tesla Inc.
and
“I fell into a panic that I might never be able to buy a house,” says Son Gilhun, a 27-year-old forklift driver who lives in Hanam on the southeast outskirts of the capital. “Instead of giving up, I decided to follow my older colleagues in buying stocks.” He gambled heavily on Tesla and amassed a stock portfolio worth about $100,000 during the pandemic by adopting a frugal lifestyle and channeling half his $2,000 monthly paycheck into equities. Son trimmed his Korean holdings and boosted his stake in the carmaker in June when the shares fell below $700. His immediate goal is to buy a Tesla and, if he can make enough money, eventually a house.
This is obviously very unhealthy concentration risk and goes against prudent investing principles.
2) Meta's own chatbot thinks Zuck is terrible
A couple of worrisome examples from the article:
Park Sunghyun and her husband sold their home in Seoul, moved into a rental apartment with their 7-year-old son, and plowed the family’s $230,000 of savings into shares of Tesla Inc.
and
“I fell into a panic that I might never be able to buy a house,” says Son Gilhun, a 27-year-old forklift driver who lives in Hanam on the southeast outskirts of the capital. “Instead of giving up, I decided to follow my older colleagues in buying stocks.” He gambled heavily on Tesla and amassed a stock portfolio worth about $100,000 during the pandemic by adopting a frugal lifestyle and channeling half his $2,000 monthly paycheck into equities. Son trimmed his Korean holdings and boosted his stake in the carmaker in June when the shares fell below $700. His immediate goal is to buy a Tesla and, if he can make enough money, eventually a house.
This is obviously very unhealthy concentration risk and goes against prudent investing principles.
2) Meta's own chatbot thinks Zuck is terrible
Meta's own Blenderbot 3 doesn't "think" highly of CEO Mark Zuckerberg (and its overlord):
The story of how Newater got started, as told by some of the engineers who worked on it.
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