ninthant

joined 2 months ago
[–] ninthant@lemmy.ca 15 points 1 month ago* (last edited 1 month ago) (5 children)

At the risk of seeming like a jerk, I’ll state the obvious: market prices are set by the intersection of supply and demand.

In theory the fundamental value of a share is the fractional ownership in that company. If the company is successful then shares will have value relating to dividends or if the company is sold, etc.

However in practice the supply and demand of these shares is not required to be rational. People can have irrational preferences for shares, hype men can sell wild fantasies about the future, and so forth.

Back to your your more specific question, the share prices of Tesla have been completely disconnected to the value of the company for quite some time now. This is not opinion, this is plain observation of the valuation of the company relative to its revenues or profits or growth potential.

What is opinion is why that valuation has been irrationally maintained for years. My opinion that Musk has done a successful job in cultivating a cult audience around him of financially-motivated hype men who join him in promoting the prices regardless of their actual value.

Musk and his cult manipulates the media, both mainstream and alternative, with lies and publicity stunts painting a false narrative of future potential. Self driving cars, robotaxis, AI nonsense, and much more.

The regulatory bodies who should be stopping this fraudulent behaviour have responded meekly in the past, and now in Musks home country have been largely dismantled. This further encourages the cultists to continue their cycle of hype, disconnected from reality.

In my opinion, I find it likely many investors are well aware that Tesla is a bubble valuation. However so long as the hype machine continues, Tesla share prices can be a speculative investment as long as you can sell to a “bigger fool” later. No one knows when the bubble will burst, so much like penny stocks or meme coins it can be a gamble worth taking for some.

Back to the article for a second. In no uncertain terms, pension funds or anything of the like should not be gambling their funds on this house of cards.

[–] ninthant@lemmy.ca 10 points 1 month ago* (last edited 1 month ago)

Meta’s chief global affairs officer Joel Kaplan accused the Commission of trying to “handicap successful American businesses while allowing Chinese and European companies to operate under different standards

We all see where this is going, right? Anti-competitive behaviour now being framed as “USA #1” patriotism and actively defended by MAGA via tariffs and trade policy.

People outside the US need to stop using American platforms.

[–] ninthant@lemmy.ca 4 points 1 month ago (1 children)

The liberals have released a costed platform and it contains no cuts to health care. This is publicly available.

Carney has spoken many times about the importance of the public health care system and their platform documented highlight this in many places.

Further, this press release misrepresents the role of a board chairperson, calling it “Carney’s company” which is wildly inaccurate. If you’re interested, Wikipedia has a good summary of the role of a board of directors. In no shape or form does it imply the sort of direct involvement in pursuing some privatization agenda as stated in this press release.

Finally, while not outright misinformation this article wildly overstates the importance of this Australian healthcare company to the behemoth that is Brookfield Asset Management. This company was acquired by Brookfield years before Carney joined, and based on the share price at time of acquisition is likely less than 1% of Brookfields holdings.

[–] ninthant@lemmy.ca 0 points 1 month ago (3 children)

FFS can the NDP please quit it with the misinformation campaign please?

They can state their policies without lying. This is fucking gross.

[–] ninthant@lemmy.ca 16 points 1 month ago (1 children)

I would have said the same thing until I saw this new meme format.

I’m not gonna pretend that the billions squandered and the environmental damage was worth the meme, but those are sunk costs so at least we get this out of it?

[–] ninthant@lemmy.ca 20 points 1 month ago (1 children)

Th argument for notwithstanding was that it would be used in matters of extreme importance, and in a thoughtful and limited way.

Now it’s being wielded by the right to push policy that feels good to vengeful idiots with no consideration if it would lead to good outcomes. And because Notwithstanding now framed as a left/right matter it will be impossible to get rid of.

So now we’re in a situation where in each election from now until the end of time, we have to convince a clickbait-hungry media and a population distracted by slogans and shiny objects that boring nerdy shit like notwithstanding is something that they must pay attention to.

This fucking sucks.

[–] ninthant@lemmy.ca 1 points 1 month ago (1 children)

“That sucks”

Sure but in the other hand a bunch of fucking assholes get a laugh about their funny prank. “That sucks” that it affects real human beings and makes it more difficult for them to exercise their democratic rights

I do not underhanded how people here are so jaded that somehow I’m the bad guy. Absolutely disgusted with this crowd

[–] ninthant@lemmy.ca 0 points 1 month ago (2 children)

I have a firsthand report of someone in this riding who is having difficulty helping seniors with mobility issues be able to vote.

I’m extremely fucking pissed at all the assholes who think “ha ha this is funny it doesn’t affect me”

It’s fucking gross. You should be ashamed of yourselves.

[–] ninthant@lemmy.ca -5 points 1 month ago (4 children)

You know what’s a “bad look”? Protesting in a such a way that makes it hard for Canadians to exercise their democratic rights.

I’m not the one being bothered by this. It’s seniors and people with disabilities who struggle with a ballot that is well over a metre long. It’s poll workers who are affected by the struggle to accommodate the process of voting and tabulating the results.

It is causing issues. I know this from firsthand reports of personal friends who are volunteering in the affected riding. I’m happy to wear this “bad look” because it’s not me being affected.

[–] ninthant@lemmy.ca 2 points 1 month ago

The nuance I’d add is that while free markets are efficient, serving the public good is more important than the purest efficiency.

As an example, an unrestricted free market incentivizes the development of monopolies. This can be efficient and in the extremely long term these monopolies may fall to disruptive new entrants — but we humans live in the present and take little solace in the idea that the monopolist will someday get too bloated and fall. We just want to afford groceries!

So using competition bureau powers, we can restrict those markets. This may subtract from some extreme market efficiency but that’s an efficiency only the monopolist benefits from in a useful time frame.

The same principles are true in many other areas of the economy.

[–] ninthant@lemmy.ca 9 points 1 month ago (1 children)

It’s impossible to maintain so many competing “top priorities”

Trying to do too much and failing the execution was Trudeaus downfall, and the next PM will have even more to deal with as top priorities.

Pulling in climate issues to new trade partnerships and new housing policies is a way to keep progress towards climate goals while also keeping focused on practical issues we need to solve in the short term.

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