Thread by @thelykeion

Just had our first run in with the "#TSLA Fan Boy Club" after posting a high-level back-of-the-envelope comps analysis to see what a reasonable valuation could look like.

Boy was that enough to set them off.

We found that there are 5 distinct types of Fan Boys, listed below👇

1) The ones who have clearly never seen nor even heard of 'valuation' or have any idea of how to derive it in the real world. Usually, they've done just enough Investopedia browsing to type words like 'margin' and 'growth', but that's it - these are the toughest type to deal with

2) The ones who may understand the basics, but who simply deny that Tesla has any competitors. They believe Tesla is the only auto co. on the planet and that any other view is so incredibly out of touch with reality, that ad hominem attacks are the only correct course of action

3) The hardliner "Tesla Fan Boy Party Line":

"Why don't you short if then?"

As if this statement alone is enough to justify a P/E ~20x higher than the highest competitor in the comp set... but that would assume they believe Tesla has competitors which they most assuredly do not

4) The straight-up ad hominem types... no mucking about from these lads, just right into it:

"You dumb f***ing inbred coward racist, etc. etc. etc."

They can get creative with the insults though, so kudos to them.

5) The ones who actually know a bit of what they're talking about, but got caught up in the mania and are now clearly at odds with what reality is showing to them. They still want to believe, so they oscillate between logic and fantasy. I actually like these types the best

Sad thing is, Tesla is a cool company and they've done something very few have ever been able to do: force large, established incumbents to rewrite their playbooks.

But, you can like a company and still disagree with its valuation, because good companies can still be overvalued.