Working together to create their own alternative to Bitcoin and its copycats could be a way to generate value, at no initial cost, for struggling pension funds. Madisons, anyone?
Byron R. Wien, vice-chairman of the Private Wealth Solutions group at Blackstone, and Joe Zidle, the company’s chief investment strategist, think they might have sussed out Musk’s “master plan.” In a classic case of the guppy swallowing the whale, they say Tesla is going to buy a major automaker. Yup, according to Wien and Zidle’s
Ten Surprises of 2021 defined as “having a better than 50 per cent likelihood of happening” little ol’ Tesla is going acquire a major global automobile manufacturer “in a transaction that involves a combination of cash and stock.”
Think about this for a moment and it proves absolutely brilliant. In one fell swoop, it would solve so many of Tesla’s problems at least those centering on ridiculous valuations and the ramping up of production to satisfy those incredible projections. For instance, it would instantly solve the company’s truly usurious market cap-to-car ratio. Legendary investor and Model 3 owner! Jeremy Grantha
ASX to drop as UK virus triggers global sell-off
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Australian shares are set to open lower, with news of a new virus variant in the UK putting investors on the defensive. The S&P 500 is set for its worst day in a month.
ASX futures were down 30 points to 6558 near 5.10am AEDT, paring some of their earlier losses. The currency slid 0.6 per cent amid a shift to the safe-haven US dollar. The Bloomberg dollar spot index was up 0.3 per cent. The yield on the US 10-year note was down 1 basis point to 0.94 per cent.
Oil dropped amid concerns the latest virus news from the UK could curtail demand for longer.