Wednesday, 21 December 2022
It's almost Christmas. Time for a Central Heating failure F1.
Tuesday, 20 December 2022
christmas cars
Monday, 19 December 2022
also fun going backwards
Wednesday, 14 December 2022
Tesla: worth a punt?
They have dropped to about half of their start the year position and therefore could be seen as a bit of a bargain. The drop is consequential on the twitter shenanigans and various short-sellers throwing out rumours about the share price.
But consider: the company has a gross margin of around 25%, which is ridiculously high for the automotive sector. VW is 6.2% and BMW and Ford are about 15%-16%. Additionally, it had a suite of Gigafactories just to produce EVs. A couple of these (Berlin and Austin) are only ramping up production at present, from around 60k/Qtr compared with the Shanghai Giga factory at 250k/Qtr.
Other manufacturers are repurposing their gasoline vehicles to electric, leaving the transmission tunnel in place and making a few cosmetic changes to the exterior. They say it is so they won't scare the client base. A client base buying a legacy adaptation. I followed an electric beemer along the road the other day and it even had the two cutouts for the dual twin tailpipes. They surely miss the point about a paradigm shift (I know, extra consultant bingo points for that mention).
The predictions are for Tesla to ship around 500,000 cars in 4Q22, which makes a total of around 1.4 million vehicles. Consider that BMW produces 2.2 million or 2.5 if we include the Rollers and Minis. Conceivably Tesla could be bigger than BMW in another year.
Assuming that there will also be a Tesla share buyback during 2023, the share price could rise, in line with both the results and the effect of the buyback.
But I also look for ideas and the rumoured Tesla Model 2, or whatever, is of immense interest. It reminds me of our Alfa Guilietta. If a denuded Model 2 comes in close to $25,000 then it could be a real challenge to the lower end, knowing it will come with the same chipset and operating system as the high end vehicles.
Now factor in the truck and the improved so called self driving, and we have a string of interesting enhancements.
But let us not forget Tesla is down 51% year to date. Rivian is on life support at down 74%, Nio has dropped 61%, and even Ford is down 36% over the same period.
The difference is that Tesla is kitted out with Gigafactories ready for pure EV production.
No recommendation here, just an observation.
Friday, 9 December 2022
Thursday, 8 December 2022
Strange Games : Slow Horses S1 and start of S2
- Because it forced me to go back to the first series and watch it all over again.
- Because we are now only on book 2, and I'm eagerly waiting for episode 3 to drop.
- Because I know there are at least five more books in the Mick Herron series. Oh yes, and Mick Jagger wrote and performs the theme.
Wednesday, 7 December 2022
schlecht
I'll be off to my Stammtisch later for Weihnachtsfeier und Geschwätz. Sad to see that actions of rogue right populism have now leached into the German system, creating an attempt to storm the German goverment buildings.
These far right protestors are using the ant-vax capaign to drive support for their wider goals. They previously used Merkel's acceptance of migration and fears of islamisation.
The AfD (Alternative for Germany) uses its legitmised position to cultivate dissent and even includes 83 members in the German Parliament. Infiltration is part of their modus operandi.
A German military KSK (Kommando Spezialkräfte) special forces unit was disbanded recently because it contained many extremists. Discovered buried in the garden by police, a Sergeant-Major's house had two kilograms of plastic explosives, a detonator, a fuse, an AK-47, a silencer, two knives, a crossbow and thousands of rounds of ammunition, much of it believed to have been stolen from the German military.
Some 48,000 rounds of ammunition and 62 kilograms of explosives have also 'disappeared'.
Tuesday, 6 December 2022
art of the dodge
Remarkable that the dodgy ex-president has now been found guilty on 17 counts of financial crime including tax fraud. How remarkable that he can bounce free from this with a mere $1.62 million fine, which I expect he will contest.
Plenty rests on a Mr. Weisselberg, who struck a plea deal with prosecutors. Weisselberg admitted that he had reaped about $1.8 million (ie more than Trumps fine) in indirect and hidden compensation, allowing him to evade hundreds of thousands of dollars in taxes. The benefits included a rent-free apartment in a Trump building overlooking the Hudson River; leased cars for him and his wife; and Trump-paid private school tuition for their grandchildren.
The above 2018 art installation inside a Trump hotel hinted at what was to come. I wonder how many others are hoping to avoid the searchlight?
Trump is naturally calling it all a witch hunt.
Friday, 2 December 2022
enemy of the state? A supermarket hack, man
Sunday, 27 November 2022
Our Tragic Universe
Thursday, 24 November 2022
#LTN: watching and waiting
Twitter has become the news in its own right, a little like some journalists who stumble into the story. I'll bide my time to see how it plays out. After all, many well-known names have been around on the system for a long time. I guess I'm also a #ltn (low twitter number)
Anyone can find out this stuff.Despite all the naysayers, I suspect Musk will weed most of the pile-on-noise-merchants out of the system.
But then, I'm holding economically priced Tesla shares as well, since they temporarily became discounted.