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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (4399)	2/11/2020 11:44:00 AM
From: elmatador	Read Replies (1) \| Respond to of 13787

Intel and Vivo join Sony and Amazon withdrawals from Mobile World Congress due to coronavirus risk Trade show bans visitors who’ve recently been to China By Sam Byford @345triangle Updated Feb 11, 2020, 1:35am EST Intel, Vivo, and NTT Docomo are joining Sony, Amazon, and others who have cancelled their presence at Mobile World Congress 2020 due to the coronavirus outbreak. LG, ZTE, Nvidia, and Ericsson have already cancelled various events that were set to take place at MWC in Barcelona, which is the biggest mobile technology trade show on the annual calendar. TCL also announced it would not be holding a press conference at the show, but the company still plans to attend. “The safety and wellbeing of all our employees and partners is our top priority, and we have withdrawn from this year’s Mobile World Congress out of an abundance of caution,” said an Intel spokesperson in a statement published by Venturebeat. NTT similarly stressed the need to protect customers, partners, and staff, according to Reuters. Vivo, citing concerns with the health and safety of its employees and the public, is withdrawing the debut of its new Apex 2020 concept phone from MWC. Revised plans will be issued soon, according to the company. “Sony has been closely monitoring the evolving situation following the novel coronavirus outbreak, which was declared a global emergency by the World Health Organization on January 30th, 2020,” Sony says in a statement posted to its website Monday. “As we place the utmost importance on the safety and wellbeing of our customers, partners, media and employees, we have taken the difficult decision to withdraw from exhibiting and participating at MWC 2020 in Barcelona, Spain.” “WE HAVE TAKEN THE DIFFICULT DECISION TO WITHDRAW FROM EXHIBITING AND PARTICIPATING AT MWC 2020” Amazon, meanwhile, tells TechCrunch that “due to the outbreak and continued concerns about novel coronavirus, Amazon will withdraw from exhibiting and participating in Mobile World Congress 2020, scheduled for Feb. 24-27 in Barcelona, Spain.” Amazon has not historically had a major consumer-focusing presence at MWC. Sony, on the other hand, often uses the show to reveal its most important mobile devices. Last year, for example, the company announced its Xperia 1 flagship phone at the show. Sony says it will instead make its announcements online through its Xperia YouTube channel this year. In a statement, TCL said it had taken the decision to cancel its press event for MWC. However, it stressed that “this decision does not impact any other MWC 2020 activities planned by the company and TCL will still announce its latest mobile devices and showcase them at its booth.” Yesterday the GSM Association, which organizes MWC, put out an updated statement detailing further countermeasures it is taking against the spread of the coronavirus. No travelers from China’s Hubei province, where the outbreak began, will be permitted access to the event, while anyone who’s visited other regions of China will need to prove that they have been out of the country for 14 days beforehand. With MWC set to start in two weeks today, that is likely to complicate the plans of several Chinese companies that were planning to attend. Update February 10th, 9:40AM ET: Updated with information on TCL’s cancellation. Update February 11th, 1:28AM ET: Updated with information from Intel and NTT Docomo.

To: Elroy Jetson who wrote (4399)	2/15/2020 8:22:46 AM
From: elmatador	1 Recommendation Recommended By DinoNavarre Respond to of 13787

Charles Munger and Warren Buffett bet on the wrong horse: China's BYD Co. That explains why TJ shorts TSLA. Unhappy Elon won. siliconinvestor.com At the annual shareholders meeting for newspaper company Daily Journal on Wednesday, a shareholder asked Berkshire Hathaway vice chairman Munger what he thought about Musk, based on Tesla’s recent ups and downs. “My thoughts are two,” Munger, who serves as the Journal’s chairman replied. “I would never buy [Tesla], and I would never sell it short,” he said, referring to a technique investors use to bet that a stock will decline. And “I have a third comment,” the billionaire investor continued: “Never underestimate the man who overestimates himself. I think Elon Musk is peculiar and he may overestimate himself, but he may not be wrong all the time.” Charlie Munger on Elon Musk: ‘Never underestimate the man who overestimates himself’ Published Fri, Feb 14 20204:40 PM EST Charles Munger, vice chairman of Berkshire Hathaway Inc., left, and Warren Buffett, chairman of Berkshire Hathaway Inc., attend a BYD Co. press event in China, on Monday, Sept. 27, 2010. Nelson Ching \| Getty Images Owning Tesla stock has been a bit of roller coaster ride of late: During the first week of February, for example, the stock had “one of its wildest weeks ever,” CNBC reported, with the share price “swinging hundreds of dollars in both directions.” On Thursday, when Tesla announced it will sell 2.65 million new shares of stock, the share price jumped nearly 5%. After it announced the new stock will sell at $767 a share on Friday, the stock fell 2% in premarket trading. At the annual shareholders meeting for newspaper company Daily Journal on Wednesday, a shareholder asked Berkshire Hathaway vice chairman Munger what he thought about Musk, based on Tesla’s recent ups and downs. “My thoughts are two,” Munger, who serves as the Journal’s chairman replied. “I would never buy [Tesla], and I would never sell it short,” he said, referring to a technique investors use to bet that a stock will decline. And “I have a third comment,” the billionaire investor continued: “Never underestimate the man who overestimates himself. I think Elon Musk is peculiar and he may overestimate himself, but he may not be wrong all the time.” At the Daily Journal’s 2019 shareholder meeting, Munger shared similar thoughts, but also said that he personally would not hire Musk. “I want the guy who understands his limitations instead of the guy who doesn’t,” Munger said at the time. “On the other hand, I’ve learned something terribly important in life…. These weird guys who overestimate themselves occasionally knock it right out of the park. “I don’t want my personal life to be [around] a bunch of guys who are living in a state of delusion, who happen occasionally to win big. I want the prudent person,” Munger explained. Musk and Tesla did not immediately respond to CNBC Make It’s request for comment. Warren Buffett, Berkshire Hathaway chairman and Munger’s longtime business partner, has also given his opinion on Musk. “He’s trying to do something to improve a product, and I salute him for that,” Buffett said on CNBC’s “Squawk Box” in May 2018. It’s “not easy” to do that, Buffett said. “The American public will decide whether [Tesla’s electric cars are] a success.” Currently, Tesla’s market cap is over $140 billion, first hitting the $100 billion mark in January. According to Musk’s compensation package, if Tesla stock hits $3,665, the company’s profit target hits $14 billion a year and other financial targets are met, Musk will get more than $55 billion. With the added value to Tesla and Musk’s personal payday, that would make his total net worth over $175 billion, CNBC reported. Jeff Bezos, the richest person in the world, currently has a net worth of $131 billion, according to Bloomberg’s Billionaires Index. Right now, Musk is the 24th richest person in the world, according to the index, with a net worth of $41.1 billion. Buffett is worth $89 billion, the index shows, and Munger is worth $2 billion, according to Forbes. With Friday’s Tesla announcement, Musk pledged to buy $10 million in shares Tesla’s secondary stock offering. Board member Larry Ellison will buy $1 million in shares, the electric car company said.