keep in mind that people betting alongside Musk lost almost everything on dogecoin, are currently down big on twitter, and down c.50% from Tesla's 52 week high.
he's on a mega losing streak. Caveat emptor. No way I'd bet with that guy as he burns through billions.
A mega losing streak?
I need that kind of losing streak.
The top 50 richest people in the world have lost more than half a trillion dollars on paper this year, a stunning loss of wealth that exceeds the gross domestic product of Sweden and is greater than the market caps of all but six companies in the S&P 500. The 50 wealthiest people, which include Elon Musk, Jeff Bezos, Bill Gates and Warren Buffett, have had a combined $563 billion in net worth evaporate this year through May 22, according to the Bloomberg Billionaires Index, a ranking updated daily of the richest people in the world. The drop comes as the stock market flirts with its first bear market since the beginning of the pandemic. N Mr. Musk, Tesla Inc.’s TSLA 1.66%▲ chief executive and the world’s richest man, currently has a net worth of $201 billion. On paper, he has lost $69.1 billion so far this year, the most of any billionaire currently on the top 50 list, according to the index. He is in the midst of buying social-media company Twitter Inc TWTR -1.12%▼. for $44 billion, a deal that he has said is on hold.
The top 50 richest people in the world have lost more than half a trillion dollars on paper this year, a stunning loss of wealth that exceeds the gross domestic product of Sweden and is greater than the market caps of all but six companies in the S&P 500. The 50 wealthiest people, which include Elon Musk, Jeff Bezos, Bill Gates and Warren Buffett, have had a combined $563 billion in net worth evaporate this year through May 22, according to the Bloomberg Billionaires Index, a ranking updated daily of the richest people in the world. The drop comes as the stock market flirts with its first bear market since the beginning of the pandemic. N Mr. Musk, Tesla Inc.’s TSLA 1.66%▲ chief executive and the world’s richest man, currently has a net worth of $201 billion. On paper, he has lost $69.1 billion so far this year, the most of any billionaire currently on the top 50 list, according to the index. He is in the midst of buying social-media company Twitter Inc TWTR -1.12%▼. for $44 billion, a deal that he has said is on hold.
How much of that net worth exploded with the $Trillions shelled out by the Fed and politicians in a mere 18 months? I assume the erosion of wealth will continue.
well Mr Market didn't let us enjoy that one for long. SNAP is down 30% after hours, taking the market right back down with it. Says the macroeconomic market is changing quickly. Which suggests other companies will have similar problems.
Of course hardly any companies trade at 60x earnings and 8 x sales. but no matter. Back down we go.
well Mr Market didn't let us enjoy that one for long. SNAP is down 30% after hours, taking the market right back down with it. Says the macroeconomic market is changing quickly. Which suggests other companies will have similar problems.
Of course hardly any companies trade at 60x earnings and 8 x sales. but no matter. Back down we go.
still, despite multiple blowups in social media and in retail, SP500 2022 EPS have not been reduced. Might actually be climbing. I think it's at around $228 now. Which puts us at around 17x 2022 earnings and 16 x 2023 earnings.
Not an expensive market anymore, by that measure.
But I'm sure earnings ests will at least creep down a bit so maybe the market is anticipating it.
Still...wild to see stocks crash 20% so fast with earnings estimates actually rising at the same time.
It’s only bad in tech - value will only be down half a percent at the open. UK is flat right now.
S+P 500 fund down 0.97% right now.
Most of my holding down 2%, 3%, or 4%.
yeah people are learning the hard way that SP500 is not a diversified portfolio. Which was great when tech was beating the market year after year. Not so good on the downside of the slope like right now.
I am getting killed in everything except flat in bitcoin and flat in one oil stock...other one is way down too.
Vanguard FTSE All-World is 'only' down 10% YTD. The fact you're getting so wrecked and crying shows you're not diversified, in equities at least. The S&P 500/Nadsaq alone isn't diversified.