Musk follows Burry's advice at the peak of the global bubble

9 dic 2020

The fact of the day is $ 100 trillion. This is the capitalization of the world stock market. Is that a lot? If we use the world GDP as a comparison base, then a lot. The last time the capitalization of the global stock market exceeded global GDP was on the eve of the 2007-2009 crisis, which nearly buried the entire global financial system.

Last week we wrote about Burry's advice for the "good guy" Elon Musk to sell Tesla shares while they are still being bought at current "ridiculous" prices. You will laugh, but yesterday Tesla announced its intention to sell its shares for $ 5 billion. We just wondering what else needs to happen for Tesla fans to finally face the facts.

Britain, meanwhile, is ahead of the rest. This time on the issue of vaccination, which officially started yesterday. We will remind, the United States must give permission for the vaccine against Pfizer on Thursday and in theory will join the UK at the start of next week.

The oil market, meanwhile, is no fun. We wrote yesterday that China's exports literally skyrocketed by 21%. But imports grew by a very modest 4.5%. To a large extent, such a weak result is due to a sharp drop in imports of energy resources. This, in turn, is due to the fact that at the beginning of the summer, China has filled its storage facilities with cheap oil and now uses this oil, saving up to $ 20 per barrel.