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Brad DeLong's Grasping Reality 2020-02-23 00:16:08

Summary:
Perhaps it is the growing recognition that while Tesla has its problems its competitors are all trapped in Clayton Christensen's innovator's dilemma to a previously unforeseen degree? Yes, shorts are always vulnerable to a squeeze—almost by definition, they cannot stay solvent long enough to outlast any serious outburst of market irrationality. But I must confess I agree with Josh Brown here: the bloodbath of the Tesla bears is definitely one for the ages: Joshua M Brown: Greatest Short Squeeze of All Time? https://thereformedbroker.com/2020/02/04/greatest-short-squeeze-of-all-time/: 'Now this is just breathtaking–I have no skin in the game on this one but cannot stop watching it. I think what’s happened with Tesla recently represents the greatest short squeeze of all time. A rally

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Perhaps it is the growing recognition that while Tesla has its problems its competitors are all trapped in Clayton Christensen's innovator's dilemma to a previously unforeseen degree? Yes, shorts are always vulnerable to a squeeze—almost by definition, they cannot stay solvent long enough to outlast any serious outburst of market irrationality. But I must confess I agree with Josh Brown here: the bloodbath of the Tesla bears is definitely one for the ages: Joshua M Brown: Greatest Short Squeeze of All Time? https://thereformedbroker.com/2020/02/04/greatest-short-squeeze-of-all-time/: 'Now this is just breathtaking–I have no skin in the game on this one but cannot stop watching it. I think what’s happened with Tesla recently represents the greatest short squeeze of all time. A rally since around October when they surprised to the upside in an earnings report has just culminated in an explosive 100% year-to-date gain at this morning’s open...

Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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