,
23 tweets,
6 min read
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1/ The social scientist in me is always curious to observe mob behavior. There's no mob quite like Elon's Flying Monkeys & there are few people they love to hate on more than @WSJ's talented @CGrantWSJ. Let's peek at the goons in their natural habitat after Grant's latest. $TSLAQ
2/ Here's a link to the Heard on the Street piece Grant wrote yesterday evening in the wake of the $TSLA Q2 financial data. wsj.com/articles/tesla…
3/ A hard-hitting headline. And four crucial points: First, despite deliveries exceeding Q4 number, revenues fell relative to Q4.
4/ Second, $TSLA's positive free cash flow was achieved by selling down inventory. You can do that once, obviously, but it's unsustainable.
5/ Third, recalling that Q3 2018 was when Model 3 production was first fully ramped, Grant notes that analysts now expect Q3 2019 to generate year-over-year results that show declining revenues & further losses.
6/ Fourth, Grant underlines the cultish nature of the $TSLA following by acknowledging Musk will continue to beguile the true believers with tales of wondrous Shanghai & robotaxis. Alas, the Cap Ex (guidance slashed yet again!) is too pitifully small to achieve any real growth.
7/ Quite a bit to pack into a short column, but Grant has a powerful economy of expression. As always, his points are supported by data taken directly from $TSLA's financial reporting.
8/ So, how should a good & true Flying Monkey, summoned by the Grand High Charlatan himself, respond? Well, let's begin with personal attacks founded lies. Here are some examples:
9/ Grant is being paid by invidious forces (Big Oil? Big Firetruck?) to spread "FUD" (fear, uncertainty, and doubt - the latter two are feelings which almost every intelligent investor when making any investment). 
10/ Variation on the theme:
11/ Outright lie:
12/ Of course, there's plenty of just plain rudeness from cultists who lack intelligence & imagination. I'll offer one example, but there are many in the Twitter comment thread:
13/ And, of course, a $TSLA Flying Monkey gathering wouldn't be complete unless the Doxxer in Chief stopped by to deposit his feces:
14/ My favorite comments, though, are ones from cultists so dense that they actually reinforce Grant's points. Noting that Q3 2018 was first quarter in which Model 3 production fully ramped, Grant said Q3 2019 will show negative Y-O-Y growth. Well, how about t
15/ Grant made the point that revenues feel & profits turned to losses despite record deliveries? Well, how about this!
16/ Grant said Musk can make the $TSLA cultists dance with visions of sugarplums, despite slashing Cap Ex? Well, how about this!
17/ And, it's always delicious when people who have been screeching for years about $TSLA's massive battery advantage thanks to Panasonic can turn on a dime, once new talking points are handed down from the Flying Monkey Handler:
19/ The column began with this phrase: "It is time for Elon Musk and Tesla shareholders to face reality: the company's days as a growth darling are coming to an end." The lede prompted this wonderful exchange:
20/ Here's a link to the Grant tweet. Anyone interested in sorting through the garbage will find plenty in the responses.
(wish I had written, "fling his feces")
21/ Walked down memory lane a few steps, and noticed this piece from last month by @CGrantWSJ: wsj.com/articles/tesla…
@CGrantWSJ 22/ From that column, this paragraph was prescient:
@CGrantWSJ 23/ The way that guy flings around facts & numbers, no wonder they hate him.
