Wednesday, May 20, 2020

Wells Fargo Kills My Rental Prop Refi Due To Last Minute Change In Lending

I was minding my own business one day in early March, prior to even the earliest of measures to stay-at-home, when I received a phone call.  It was a Well Fargo agent by the name of Will.  I won't share his last name because that wouldn't be nice.  Will wanted to know if I was interested in refinancing one of my rental properties.  Wells Fargo owns the note so I thought, Hey...why not.  I was already in the process of refinancing my personal residence with Blue Spot Home Loans and that was going great.  I locked in at 3.3%, down from 5.125%.


Mortgage Refinance 101: What It Is and When You Should Do It ...


The rental property details

The rental property in question is my best performer.  I'd once already refinanced it, using Well Fargo, and taken $24K in cash-out.  This was back in 2018.  The refi process had resulted in an increased rate to 6.25%, 2018 rates.  This was high, but I was still cash-flowing nicely due to the rental market in Cordova, TN rising.  The property had appraised at $155K back in 2018.  I quickly looked on Zillow and other sites to see if there was any other additional appreciation to be had.  Comparable sales showed that properties in the same neighborhood had sold for $170K!  Holy smokes!  I said to myself.  I could do a cash-out refi once again and get a lower interest rate at the same time.

Will said I could get 5.125% now.  So I turned myself into a document uploading machine.  Wells Fargo would send me an email requesting documents, and I'd complete the "task," that same day.  It took like three weeks to get my first actual, non-automated response from Wells Fargo.  The Mortgage Processor, a woman by the name of Leticia, introduced herself and said she'd be taking over my application.  This was in late March.  I knew things were slow because of all the people attempting to do what I was doing.

In early April I started to worry.  Leticia had gone silent.  The reports of Covid19 leveling every industry in sight alarmed me.  I emailed Leticia and requested that she order the appraisal of my rental property asap!  I explained to her that I didn't want the value of my property to go down because of people losing jobs.  Finally, some time in late April, the appraisal was ordered.  I spent about $650 and crossed my fingers.  Remember...appraisals make or break deals.  If the property doesn't appraise at the price you need it to, the deal has to be re-structured.  I wanted $14K in cash-out and needed the price to come in at $170K.

Boom!  The property appraised at my price.  Leticia gave me an update, stating we would close by the end of May.  This was the slowest refi process I had ever been a part of.  It would be almost three months from start to finish.  But again, Covid19.

Then there was confusion.  Will called me in early May to tell me we could lock in at 5% now because the rates had gone down.  I inquired about the $14K cash-out, as had been stated in the disclosure forms that Well Fargo sent me.  I had a copy of it.  Will had not seen it.  He pulled it up on his screen and noticed it.  He said that the application was supposed to be simply to lower the rate, and not pull cash out.  He had to talk to Leticia and his boss to see if he could change it to a cash-out app.  Mind you, this was in the disclosure forms that both my wife and I signed, and agreed to!

Another week went by.  Will hadn't gotten back to me with an answer.  Leticia emailed me on Friday of last week.  She stated in her email that Will would call me and explain the outcome.  To this point, I only imagined one of two options: 1) I get the 5% rate and $14K cash-out or 2) I get the 5% rate only.  Will called me on Monday of this week.

He starts to explain to me that due to recent changes, Wells Fargo couldn't approve my cash-out loan.  Okay, no biggie, I thought.  I'll just take the 5% rate refi.  When I asked about just getting my rate lower, Will begins to explain that he couldn't do that for me either.  I was pissed now!

He explains that Wells Fargo decided to not approve any current or future applications where a borrower declares income from rental properties. 

Son of a bitch!  I'd spent at least 4 hours of my life finding docs and making sure they were PDF, uploading them, Docusigning legal documents, and answering emails FOR NOTHING.  I told Will that I was not happy, considering that a) it was he who had called me out of the blue and b) I was ready to close back in April had Leticia been faster at her job and not ghosted me for weeks.  (Once I left a message with her supervisor).

Will was apologetic and I could tell I was not his first let-down call.  He said to me that he would talk to his boss about the possibility of getting the cost of the appraisal refunded to me.  That's where we parted.

Mortgage Refinance Activity On the Decline

Out today is an article that explains why refinance activity was down 6.3% with the week ending on May 15th.  Sure enough, there is mention of lending standards changing among lenders.

Look, I get that banks want to ensure they take on performing loans.  I get that they see many people not being able to pay their rents, affecting landlord's bottom lines.  But to make a decision that affects every single real-estate investor, regardless of their individual circumstances, isn't right!  I have had all of my tenants pay their rent up to this point.  My rental properties are in a state that had limited closures.  Thank you great state of Tennessee!

Many real-estate investors have both W2 (salary from a job) and 1099 (from rental properties) income.  Responsible real estate investors keep enough cash on hand to cover their rents for several months.  I'm one of them!  I know I'm not the only one out there that this happened to.

Wells Fargo has all the right to change their lending standards.  It's good business in times like these.  But don't waste people's time.  They should've allowed loans in process to close and alerted new borrowers, those applying in mid-April for example.  This is just another example of Wells Fargo horrible customer service.  They had their reputation completely blighted by the news of their agents up-selling products and also creating fake accounts in late 2016.  Now they go and do this.

Shame on Wells Fargo!  Lousy, lousy, lousy, customer service.  Avoid doing business with them if at all possible.

If you had something similar happen to you with Wells Fargo, please comment below.  Thanks for reading.

Saturday, May 16, 2020

Harry Styles Might Just Be A Freakin' Marketing Genius

When my wife, Jessica, started talking to me about this all-boy Pop band of the past called, One Direction, I did what I usually do: pretended to listen.  Don't take me wrong.  I listen to my wife very often.  It's just that she's always going from one infatuation to another, and I have to be conservative with my attention or I'll never remember anything she says.

Is Harry Styles' 'Watermelon Sugar' Video Finally on Its Way ...

Anyway, the initial introduction to this remarkably good lookin' group of young men took place like four months ago.  Jessica claimed to have fallen down a rabbit hole online, discovering all sorts of genius about One Direction, regretting not having known of them when they were actually together.  I didn't get it.  In my defense, I'm a dude that never liked boy bands.  My aversion to them began in the mid-eighties when all the young ladies at my middle school started jockin' New Kids On The Block.  God I hated their merch.  Now I understand I was an insecure and immature little kid.

My African-American Wife Loves A Young White Man From England

Let's not get too racial up in this piece, but...

my soon to be 40-year-old wife liking a white, young man from England speaks volumes about the reach this, "Harry Styles," has worldwide.  I was a little jealous at first.  Jessica kept going off about him and some other member of the group, Zayn Malik.  She gave me the rundown on the theories about this pair in particular.  Theories she'd picked up from watching countless hours of YouTube.

And so some of the hype that is Harry Styles is brilliantly and creatively generated by the tension between him and other group members.  Tension that is never allowed to rest or come to a head.  From what I've learned myself, studying the guy, Harry is a master at stoking insinuation.  Whether it be through his lyrics or the art on his body, the kid has got the hang of sly.  If looks were enough, then every pretty boy in the world would be big shit.  Clearly, it takes more than looks to make it huge.  FashionJournal.com calls H.S. (Can I call him, H.S.? Don't want to offend anyone) a fashion icon of a generation and apparently they can prove it.

A Marketing Genius?

Jessica loves Styles' music.  She listens to him when she showers, drives around, cooks, and exercises.  At first I thought his music was okay.  Not the strongest vocals.  But you don't have to be Whitney Houston to be successful as a singer in the music industry these days.  A couple of his songs are quite catchy: Fine Line and Watermelon Sugar.  The lyrics of some of his songs are, let's just say, interesting.  Nonetheless, songwriting is where Harry Styles elevates himself into a marketing powerhouse.

Lyrics that are raw AND at the same time cryptic, can be frustrating to listen to.  Harry makes a sport of it, and his fans obsess like scientists trying to make sense of data.  The easy to decipher, yet clever, titles of his songs, and the fantasy ecosystems he creates in his videos, are pure fire.  Digital and content marketers need to start paying attention to what this dude is doing!  But even the small time side-hustler could learn a thing or two.  I'm going to break down some of Harry Styles' marketing strategies next.

Personal Brand, Engagement, and Product Launch

1.  Song titles become products.  One of his songs: Treat People With Kindness or "TPWK" is on beanies, hoodies, and shirts at Harry Styles' merchandise store.  Other songs have been stamped on various merch as well.

2.  Engagement with Fans.  H.S. is known for his gratitude.  He consistently thanks fans, and gives them all the credit for his personal fame.  You might be thinking, Well, that's what every good artist should do.  Except that H.S. is better at it.  He throws up websites like DYKWYA to engage his fan base.  No strings attached (no email capture, funnels, products being sold, etc.).  Just fun.



3.  Song Lyrics, More Websites and Fun Engagement.  At Ijustwannatasteit.com we get a glimpse of the marketing prowess behind the H.S. brand.  So this is a one page website like DYKWYA with domain relating back to a song's lyrics.  However, what's different is that it is updated every so often with something new added to the table.  The original image was the table.  Then came the items on top one at a time.  Why?  It's H.S. and company hinting when the Watermelon Sugar video will drop!  Brilliant.  This is essentially how a great marketer would build anticipation for a product launch.  With so much buildup, the video will surely get millions of views.

How Can I Use This?

First, you don't need to have 27.5 million followers on Instagram to effectively utilize some of H.S.'s marketing strategies.  

If you're an author, you can create buildup for your book with a one page website.  Don't over complicate it.  Engage your following by placing an instant thank-you card message like Harry does at DYKWYA.

If you're an influencer or creative, consider using your most liked content to make merch.

If you're a small business owner, use social media, especially Instagram, to unveil a new, "coming soon" product a section at a time. 

Everyone can improve on engagement.  Too often we focus on selling.  "Always Be Closing," right?  Not so fast!  Sometimes just conversing with your following or target customer is what's needed.  Reply to every posted comment on your social media pages in a friendly and professional manner, no matter what.  Be thankful!

 I'm definitely thankful that you took the time to read this post.  I'm extremely thankful that you're here.  I also hope you enjoyed the reading.  If you did, and want to make sure you get my latest, please subscribe before you go.  You can also follow me on my Instagram: Cosvaldogomez.   

Wednesday, May 13, 2020

Should You Be Selling Items Locally On OfferUp or Craigslist During the Covid19 Pandemic?

It might be a natural thing to want to avoid people these days.  Or it might not be.  That about sums up the political ideology regarding the Covid-19 pandemic.  Let me just say this...

I get it, things are bad.  Don't think for a second I believe the economic figures being printed in the media.  14.7% unemployment?  Bah!  The real numbers are scarier.  So the urgency in people to want to reopen, go back to work, resume a semblance of their old lives, and so on, is to be expected.  People are desperate, and desperate times call for risk-taking.  This doesn't mean you should not look after yourself or your family, of course.  If you don't need to be out and about, or at work, then staying home is the best you can do for society.

I put that out there cuz I'm not tryin' to be judged here.  Feel free to judge me, but remember I can bark back.

Found Two Wheelsets!

As you may know if you've read some of my other posts or About Me page, I love to road cycle.  I haven't stopped doing it!  And I don't wear a mask.  I tried, but didn't like my warm breath on my face, so I took it off for good.  I ride solo, no longer drift off other cyclists, and keep my distance from others when I pass.  The city of Oceanside, County of San Diego, does NOT require masks while exercising outdoors, walking, running, whatever.  I'm not breaking any laws.  Am I taking a risk?  Sure.  But that's my choice.  Since I'm a teacher, I haven't had close contact with other people besides my family since March 13th, until this week that is.

Last Sunday I was coming home from a sweet bike ride, traveling down a gentle slope at around 30 mph when I saw this from the corner of my right eye:

Bontrager RL Wheelset 1660 grams with Shimano Ultegra 11-27 cassette
Tires were worn out
Spun silky smooth and freewheel purred like a kitten!


Fulcrum Racing 5 Wheelset 1760 grams with Shimano Ultegra 10-25 cassette
Two replaced spokes on each wheel; Continental & Michelin tires in good shape
Spun true and freewheel sounded great

  
On the bench of a public bus stop were two wheelsets!  I came to a smooth stop, so as not to kill myself flipping over the bike, and proceeded to ride back to the bus stop.  At first I thought it was a prank.  I repeatedly screamed, "Hello!"  But no one came out of the bushes or from behind any trees.  I expected to be zapped or shocked by a prankster's apparatus upon touching the wheels to examine their condition, but nothing happened.  Someone had left them.  Wtf?  I thought to myselfWhy would anyone leave seemingly good cycling wheels, of decent cash value, just sitting on a bus bench?  Whoever had left them was apparently too rich to care.  They weren't going to waste their time selling these on Craigslist, Facebook, eBay, OfferUp, etc.

I put my ride on pause and called my homie, asking him to come to my position immediately.  I waited for at least 30 minutes.  Still, no one came by.  Well, the bus finally did and I had to wave the driver off.  I couldn't believe my luck though.  I did some quick eBay searches while waiting and found the same Bontrager wheelset with cassette being sold for $199.  The Fulcrum Racing 5, a 2010 product, was being sold for about $100 for a set.  Because the Fulcrums I found had two replaced spokes on each wheel, I knew I would have to sell them for under $100.  Still, I figured I'd found about $250 in value.

Once home, I cleaned the wheels and checked spoke tension.  All was good!  The Bontragers were better than the set of wheels I was riding on!  So I decided to keep them.  I rode with them today and boy was I happy.  These wheels were extremely responsive.  Can you say..."ACCELERATION"!  Here are the Bontrager wheels on my 2007 Bianchi:




What the heck does this have to do with selling items locally?

Well, now that I was up to my neck in wheels (I had a spare set of my own already at the house), I had to sell some to leave space for my wife's SUV.  Just kidding...there was plenty of room in the garage.  Just being dramatic.

I don't like Craigslist.

It's too cumbersome.  There are still so many steps to take before you can post your crap.  First, you have to find the correct link.  In my case, "bike parts."  Then you need to click, "post."  Then specify the area, and the type of posting.  Then fill out the form.  I can go on and on.  The online platform hasn't changed in years!  They just recently built an app which I have yet to try so things could be looking up.  Ecommercebytes.com has a great review on Craigslist and rank it as the 8th best spot to sell your stuff.  Buying and selling things locally is your best bet with Craigslist.  You don't have to worry about getting shipping costs correct, or losing your money to a scam sending someone a payment, if you stay local and follow their safety guidelines.

Of course eBay is ranked number one.  You can't go wrong as both a buyer or seller on eBay.  Yes there may be issues, but eBay is the most reliable platform online in my mind.

OfferUp sucks, yo!  It has appalling reviews.  Wait, appalling is too nice.  88% of 433 users rated the service as "Bad."  That's bad!

I've sold and bought items locally using OfferUp and have never had an issue.  When my son needed used Tae Kwon Do sparring equipment, I used OfferUp and got what I needed.  Then when my son was over Tae Kwon Do, I used OfferUp to sell that same gear.  No issues.  Sure, there were flaky people who said they were coming to my house to pick up items but never did.  So what...I didn't lose anything.  Not even time because I kept on with my life.  I always gave potential buyers a time frame when they could come to the house.  

I like how easy it is to get a product to sell posted on the OfferUp app.  In four easy steps, you can have your item up on the platform for viewers to see.  That's convenience.  It's also very easy to edit your post.  If I need to bring down the price, I can within a matter of seconds.  I also like that I can rate my buyers.  Immediate feedback is great.

But I see from the reviews that OfferUp has some serious issues as a platform.  It's seemingly dangerous to buy anything not locally.  The number of issues, scams, fake posts, never getting a product, horrible customer service, etc., do not make OfferUp a virtual place to go to for frugal buyers.

Sold Two Items This Week On OfferUp

This week already I've sold one of my spare rear wheels, and a small kid's bike that belonged to my son.  This means I had to meet two adults outside of my garage door and speak with them, albeit, for a short time period.  Before stepping outside my house, I put on a mask.  Surprisingly, both visitors weren't wearing a mask.  How do they know I don't have Covid-19?  Hey, I took care of me.  That's on them if they don't want to take care of their own health.

The 2010 Fulcrum Racing 5 wheels are still sitting unsold at $60.  I've had 107 views so far.  So people are interested.  I'm not going lower than $50.  We'll see if I get a buyer soon.

Should You Be Selling Locally On Facebook, OfferUp, or Craigslist Right Now?

I'm not going to tell you how to live your life.  I'm not hard up for cash, getting paid monthly still by my school district and other income sources (rental properties), yet I sold items.  Probably out of boredom.  But you might be in a worse economic state.  You might need cash quick.  If you're going to take the plunge, here are my tips for safer interactions:

1.  Wear a mask.  Preferably a surgical mask.  Double up on cloth ones and cover your eyes with shades or glasses.
2.  Don't shake any person's hand when you meet.
3.  Try to talk to the buyer from 6 feet away.
4.  Place the item you're selling somewhere first and let them inspect it while you wait at least 6 feet away.
5.  After the deal is made and you walk inside your house, immediately wash your hands since you touched cash.
6.  Take your mask and eye wear off carefully.
7.  For extra peace of mind, change your clothes.
8.  Wipe down your product if you didn't get a sale.  This means you'll have to wash your hands again afterward.


Now, I'm not a doctor.  So don't take my previous tips as effective ways that can help you avoid getting infected by the Coronavirus.  Again, I understand these are difficult times.  People need to make rent, pay bills, and eat.  So, if you're reading this, and don't agree, keep it moving.  It's hard to judge someone if you've never been in their shoes.  And with that...I'm out!    

Friday, May 8, 2020

The Best Identity Theft Protection For Families

There are three major players in the identity theft protection industry, Lifelock, Experian, and Aura Identity Guard.  Obviously, each of these three companies have their own unique proprietary software for keeping people's identity safe from despicable online credit card fraudsters and identity thieves.  They're worse than rats, I tell ya!  Remember the breach at Equifax back in 2017?  Man, I totally freaked out and took action to immediately freeze my credit.  I also gladly accepted Equifax's free identity theft protection.  You damn right I took it!

How To Get Your Life Back On Track After Identity Theft  


My Research

After doing a bunch of research, I've come to find that Aura Identity Guard is the best for families.  But before we get into AIG (Wait...that's an insurer with a not so great reputation...let's not use these initials--how about, IG instead?--Yeah, that works)--I wanted to put this question out there:  Is Identity Theft Protection Worth It?  Nerdwallet.com has a great summary of who should consider getting an identity theft service.  As someone who froze their credit for some time, I can tell you it sucked.  I had forgotten that I'd done this and when it came time to apply for a mortgage on a rental property, I had to go through the process of undoing all my handy dandy protective work.  As a Wells Fargo customer, I get a new credit score update every month or so via an email update.  Wells Fargo isn't doing too well right now, but at least they can get this right!  Anyway, that's how I monitor my credit.  Are you monitoring your credit?  So there's definitely a reason to go the extra mile for yourself in the space of personal data protection, especially if you've already been victimized!  Now back to IG.

From the reviews on Lifelock, I've gathered that it is best for high-income earners.  It has a separate coverage plan for lawyers and "experts," real-time alerts, and 24/7 live customer support.  Nerdwallet.com's review explains that Lifelock's cons are that it is a bit expensive AND they don't offer a family plan option.  They have three plans: Standard ($9.99/mo.), Advantage ($19.99/mo.), and Ultimate Plus ($29.99/mo.).  But these fares are only good for the first year!  Moreover, if you're married, your spouse has to purchase a separate package.  Boo!  And you gotta shell out another $5.99/month for each kid too.  Son of a...

Experian meanwhile has two basic plans: Identity Works Plus ($9.99/month) and Identity Works Premium ($19.99/month).  It's considered one of the most affordable options online.  Experian also does have a family plan ($19.99/mo.).  Great, right?  Not so fast!  In looking at the Experian reviews, many customers mentioned the long wait times when calling customer support.  If you don't have much money in your budget to spare, but need the service, Experian might be your best option.  At U.S. News.com, Experian got a 3.3 out of 5 stars.  No bueno.


Is Identity Guard Legit? | 2020 Reviews
shop IDG Save 33% today! Limited time only!


Now, Aura Identity Guard stands in between the pricey, Lifelock, and the budget friendly, Experian.  What's cool about IG is that they have partnered with IBM and have Watson (the artificial intelligence that creamed a whole bunch of Jeopardy contestants) looking out for you.  Consumeraffairs.com gives IG the nod for having the most powerful, comprehensive identity theft protection.  IG has three plans: Value ($7.50/mo.), Total ($16.67/mo.), and Premier ($20.83/mo.).  The family plan is a not too shabby, $27.99/mo.

Your Family's Best Bet

Look, identity theft protection is all about peace of mind, right?  I mean, people want to know that someone, a reliable and effective company, has got their back!  But at the same time, we don't want to pay an arm and a leg for something we need.  That's why I believe Aura's Identity Guard is the best bet for individuals and families.  They have great plans and customer satisfaction.  If you're in need of identity theft and credit protection, get Aura's Identity Guard.

Since Homie G (that's my alternate persona) keeps it real, I'm gonna let you know that there are affiliate links to IG in this post.  But that doesn't mean I don't think IG is the best service for consumers!  My research is legit and so is what I think of the company.  So if you're a fan of my work, and do need identity and credit protection, do me a solid and click to IG via these here links!  I have the worst luck when it comes to using affiliate links so it would be awesome if I got my first referral.  Gracias! 

5/28/2020 Post script.  I wanted to also direct you to another great article on identity theft protection written by Ruben Ramos over at Money magazine.  Good luck!

Save 33% today!
Identity Guard "Watson" - YouTube   

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Monday, May 4, 2020

Analyzing Why Warren Buffett Dumped Airline Stocks

We learned over the weekend that Warren Buffett dumped the remaining stake of his airline stocks.  Were you surprised?  If you were, then you weren't interpreting the signs correctly.  Buffett let his hand be known in early April when he sold 13 million shares of Delta (DAL) and 2.3 million shares of Southwest (LUV).  I'm not playing Monday QB here.  He sold just enough of his shares to get under the 10% holding amounts and not have to publicly report any more of his sales per SEC regulations.  If you are new to stock market investing, you might be wondering: Why not sell all of his stake at once?

Warren Buffett says the coronavirus cannot stop America, or ...

Selling so many shares at once would've created a flash crash in the stock price, resulting in even more losses for Berkshire Hathaway.  Once below the 10% threshold, Buffett and his team could better execute an exit strategy for the remaining shares, selling in blocks of millions of shares during intraday highs on any given trading day, for example.  For fans of the Oracle of Omaha, as Buffett is known, the sale of his entire airline position was a bit of a bummer, causing all sorts of arguments online.

I myself questioned Buffett's decision.  I wondered at first if he had lost his mojo.  I mean, in the context of other mistakes (IBM, and Kraft Heinz), selling Delta and Southwest seemed more emotional in nature.  As if, dare I say, Buffett had allowed fear and panic cloud his traditionally stoic judgement.  I might be going too far here.  Who knows if Buffett let his emotions get the best of him?  He's got a team to work with and it's assumed a consensus was reached before pulling the plug.

So let's now analyze the trade(s).  In selling all of their airline holdings, Berkshire and Buffett are essentially telling us that they priced in far too much risk to the downside for the airlines, and not enough risk to the upside to justify a HOLD.  In other words, the odds of losing more money (according to their modeling scenarios) far outweighed the odds of recuperating money already lost, albeit, unrealized.  I wish I were a fly on the wall during their meetings to see how much more downside, worst case scenario, their models predicted.  What...another 10%, 20%?  The airlines going bankrupt?

Now, let's look at Berkshire's latest airline buy order.  On Feb. 27 of this year, Berkshire bought 976K shares of Delta, or about $45.3 million dollars' worth, at an average per-share price of $46.40.  This put the company's total holding at 71.9 million DAL shares, an 11.2% stake in the company at the time.  Mind you, this was at a time when the share price had fallen, meaning that Berkshire's cost-basis was obviously higher than $46.40.  Last week, DAL traded in the mid-twenties, reaching a high of $27 and change.  So, assuming Berkshire's cost-basis on DAL alone to be near $50 or even higher, Buffett would've needed a 100% rally in the price of the stock just to break even!

Buffett clearly doesn't believe that's going to happen any time soon.  Maybe not even in his lifetime!  He chose to cut his losses, stash whatever cash he had left in those trades, and live to fight another day.  Yes, the short-term capital losses will hurt, and indeed they sank Berkshire to one of the worst Q1 financial losses of any S n P company in history (-$41.9 billion...ouch!).  Stock holders have nothing to fear, however.  Berkshire has plenty of cash on hand, and they will figure out how to deploy it soon enough.  We might just see one last big move by Buffett, pulling another rabbit out of a hat like he's done so many times.

Thanks for reading!            

Friday, May 1, 2020

WTF Is Up With Elon Musk?

OMG!  Is Elon off his meds?  I've never seen him act this erratic and strange before.  Well...I've never actually seen him, seen him, like in person, but the tweets have been Trumpian bizarre lately.  The investor conference call on Wednesday was a mess any time Elon went off topic.  I was left wondering, is it okay for a company CEO to go on an expletive laced rant publicly?  Well...no.  But what if he's Elon Musk?

Before discussing the ethics of the usage of profanity for all to hear while running a publicly held company, let's go over some of Elon's dumbest moves while CEO of Tesla.

Some of Elon Musk's Dumbest Moves

In 2018, he broke the law by tweeting he had Funding Secured for a buyout of TSLA at $420 a share by a Saudi fund.  This would've taken the company private.  Outcome: He settled with the SEC ($20 million fine) and lost his role as Chairman.

The previous situation came on the heels of Musk's war with short-sellers.  Fiercely attacking your critics on social media is NOT a good look.  Reminds me of someone...

In 2019, Elon decided to poke the sleeping bear.  You see, what had happened was...Elon needed approval from legal before tweeting anything about TSLA.  On February 19th, Elon tweeted out that TSLA would make around 500,000 cars, a "blatant violation" of the 2018 settlement, according to the SEC.

2020 has been a strange year, hasn't it?  If seeing the price of a barrel of oil go negative weren't strange enough, we're all still semi-confined at home, and in constant danger of catching a deadly disease (unless you already have) that wasn't around a year ago.  Now we gotta witness Elon losing his shit!  The market didn't care.  TSLA's Q1 numbers looked good.  

Probably Not A Good Idea

Expressing an opinion about the handling of the Covid19 pandemic is bad people!  Nothing good comes of it.  Sure, YOU can take to FB and vent all you want.  You might lose some of your "friends" over it.  At worst, you might lose your job.  But most of us plebs aren't going to diminish the market value of the company we work for.

Bring on Elon's tweets from today.  More patriotic ramblings related to his stance on the handling of Covid19 AFTER "Tesla stock price is too high imo".

             

 First thought...wtf is Elon doing?  I was a shareholder in February of this year, and got out before the Covid19 bloodshed.  If I were a shareholder today, I'd be pissed off!  The stock tumbled as much as 13% and wiped out $14 billion of Tesla's value.  Is it not enough that today's investors have to factor in the market risks associated with a Twitterer in Chief?

It's not a secret that TSLA burns wads of cash.  It always has.  The Tesla story has always been about growth.  And Elon.  But now it's mostly about Elon.  He's a total loose cannon.  Cursing, obsessively tweeting, getting deeper into politics than ever before, attacking critics over social media, what's next?

Look, I like Elon when he's focused.  The man is trying to save the human race by getting us all to Mars.  Respect.  However, it's not his job to let investors know the stock is overbought!  He did the shorts a favor today.  Oh the irony.