Elon Musk made headlines (again) recently with a leaked Tesla (TSLA) memo intended for employees which detailed a ‘tough 2Q.’ Watch now as Hedgeye CEO Keith McCullough and Industrials analyst Jay Van Sciver discuss markets fraud, and how being naïve to deception negatively impacts investors.
“The whole way in which [Tesla] interacts with public markets is entirely inappropriate,” says Van Sciver. “It’s just corrosive to capital markets. We are all supposed to be following roughly the same rules… There’s an expectation that if you’re a rich CEO, then the SEC just isn’t going to bother and you can just run it however you want.”
“At some point, the laser-eyed cool factor turns into ‘we’re f***ed,’” comments McCullough. “This still is America, and we still have the rule of law. Part of the 4th Turning is that it turns, so game on.”
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