Some Stocks Trade Like Apartment Blocks And Others Like Rembrandts

During their recent episode, Taylor, Carlisle, and Brewster discussed Some Stocks Trade Like Apartment Blocks And Others Like Rembrandts, here’s an excerpt from the episode:

Tobias: Speaking of big pay packages, what’s Musk’s chances of getting that across the line, do you think? What’s he got? Is it like $50 billion or something?

Bill: I think it’s quite high, actually.

Tobias: What do you guys think about that?

Bill: I don’t see why they didn’t let the first pay package stick. I didn’t do enough research on this, but assuming that people legitimately voted. The pay package is the pay package.

Tobias: Yeah, it was approved.

Jake: I think I agree. It’s not really the government’s job to abrogate contracts like that.

Bill: Yeah. And come out and be like, “You got paid too much.” Like, “What?” I don’t like that world.

Jake: No.

Bill: You don’t like it, you don’t have to participate. That’s always been our take on this pod, I think. We’ve never liked it,-

Tobias: That’s right.

Bill: -we haven’t participated.

Tobias: It’s a big dollar. That stocks done fairly well too.

Jake: Yeah. [chuckles]

Tobias: That’s what happens.

Bill: Yeah.

Tobias: It’s exponential.

Bill: Look, the stock price manipulation that I perceived to have gone on there is not—

Tobias: Well–

Bill: That’s where the government should get [crosstalk]

Tobias: Yeah. No one’s ever done anything about that. Nothing’s ever come of any of that.

Bill: Yeah.

Tobias: It does look like there’s some odd call buying. But I don’t know if that’s necessarily internal to the company as to-

Jake: If you’ll have time.

Tobias: -people who are excited about the prospects of the stock in the very short-term.

Bill: That’s where I think the government should look into things. If there’s nefarious things going on, then I understand clawing back the pay package or going after that. Just the facts as they are, at least on the surface, I don’t think warrant like clawing back someone’s pay. Gavin Baker just had a long Thread about why he supports it. I talked to my buddy who owns it. He put a huge portion of his net worth into Tesla six, seven years ago. He voted for it and he was like, “I want Elon to have the money.”

Jake: And now he doesn’t talk to you anymore. [laughs]

Bill: No, he actually does. He’s a nice guy. But he must not have any other friends.

Jake: [laughs]

Tobias: What about redirecting the chips from Tesla to the AI startup? You think that was a little threat?

Bill: Oh, I have no idea about Elon, and what he does, and what he says and how he’s thinking. I’ve long stopped thinking about it.

Tobias: I can’t believe that the CEO of a company has that much discretion over, whether the company that’s contracted for the chips gets them. That just doesn’t make any sense.

Bill: Well, to the best of my knowledge, it seems like we live in a world where if you make a lot of money for people, corporate governance doesn’t matter at all.

Tobias: You’re forgiven.

Bill: It’s the ones that don’t work out that people care about, I guess.

Jake: Yeah. It seems like they only show up after the horse as well, and gone out of the barn and the barns already burned down.

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