Oh. No. I assumed you'd heard about him being an idiot' He tweeted this a while back:

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Am considering taking Tesla private at $420. Funding secured.</p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1026872652290379776?ref_src=twsrc%5Etfw">August 7, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

He, in fact, did not have funding secured. So they're going after him for misleading shareholders.

Did Elon Musk just sign with the Panthers?

Edit: Oh, sure. Delete the erroneous quotes and make me look like a fool.

What a shame. Take Tesla away from him but leave him SpaceX.

Oh. Thanks. For some damn reason I thought it was already done. I am obviously the dumbest bastard that ever lived.

That will set an interesting precedent if the SEC wins the suit.

CEOs personal social media acts as a formal company communication? That’s .... rough man. I pretty much agree in this specific instance, but still that’s an interesting precedent. So if Satya Nadella posts a picture of him eating an apple for breakfast can the SEC say he intended to show that they are taking over apple and when they don’t SEC can tune him up?

Like I said, I think In this case I agree, but it’s a precedent that could get freaking weird man.

****ing Twitter. LOL

Yeah, it seems like he's burned out and become pretty erratic. It's too bad he didn't have a board that would've forced him to bring in help with operations.

Buehler - I think criminal cases get referred over to the DOJ. The SEC is civil cases*

edit: wanted to add. I imagine that's on purpose because it's easier to win civil cases? Finance, insider trading and intent is hard enough to prove already

Right on. I was all the way wrong on that.

Guess he changed his mind. Musk steps down as chairman (but will stay on as CEO) and pays a $20 million fine. Tesla pays another $20m and will appoint two new independent directors. Board committee will also be formed to oversee his communications.

https://money.cnn.com/2018/09/29/tec...ent/index.html

Again, this might be for the best, so even as a fan of his, I'm fine with it.

Ouch. A $20M tweet? Essentially $40M if he has most of the stock. Yikes. I was wondering what went on when he said he stepped away from Twitter on Rogans podcast.

To be fair, he's worth about $20B. For someone making $50k per year, this would be like a $50 fine for him and a $50 fine for the company.

No, that math only works if someone has a $50K net worth.

Your point is taken. But I’m sure it’s still a shit check to write because you’re too undisciplined to operate Twitter.

Ha. Fair point. Still, it's not that much for a guy like him.

It's going to cost him way more than that.. this is just the government. Damaged investors and their vampire like lawyers will be on this for years.

He's not that liquid wealthy, Daface. He's fairly levered into his Tesla ownership by all accounts. Dunno, what 20 million does but there is a reason he's far more worried about short sellers than most execs. He could be margin called if Tesla drops to the low 200s from what I've read. If I were an investor I'd think it was pretty neat an executive was willing to risk so much. Dudes all in to some extent

Stock Pickers Struggle to Beat Index Funds Once Again
 

https://www.wsj.com/articles/stock-p...ain-1538218801

Not shocking news :)

https://i.imgur.com/fOTSv6w.png

That's some pretty big sector rotation out of financials last week. Banks got a rate increase and it sounds like they'll get another one in Dec. barring the world falling apart. Might be some bargains

also, it's covered up in this screenshot but GE down another 7+%. That thing seems to have no bottom. The stock price has fallen so much I think the dividend yield is about back to where it was before they cut it. 4 and a quarter

Sometimes when I go to check the stock market performance for the day, I have an idle dream that I'll log on to discover that the market is up 75,000 points and I'm suddenly rich. Like, someone invented faster than light travel or something and the market is reacting. Does anyone else ever have those thoughts when you're about to check?