"Let's call it Anti-Tesla...is apparently the biggest synthetic company ever, the largest pool of shares ever manufactured by people betting against a company. It's no Toyota, but Anti-Tesla is bigger than Fiat Chrysler Automobiles NV; the market value of Tesla stock produced by short sellers is larger than the market value of an entire real car company."That's...something. I don't know. It's easy to scoff that Tesla, a young and still-niche company that has not produced a lot of profits, is more valuable than these big mature car companies; but even that scoffing itself is more valuable than some of those companies. Finance is weird."
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Bill Bonner is founder and owner of Agora Inc., one of America's largest consumer newsletter publishers. Best-selling author and globe-trotting correspondent since 1999 for the Daily Reckoning email, he is chairman of family-wealth advisory Bonner & Partners, and co-author with his son Will of Family Fortunes: How to Build Family Wealth and Hold Onto It for 100 Years (Wiley, 2012).
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