Proving that markets are always eager to get way ahead of themselves, the prices of cobalt and lithium - two main EV battery commodities - have been crushed in 2018 and 2019, despite EV sales growing.
The hit will come as a result in lease accounting rules that started on January 1. Morgan Stanley has estimated at the consumer discretionary sector will be impacted the most, and that the retail sector's leverage ratio will balloon from 1.2x to an astounding 3.4x.
"The texts that they are able to generate from prompts are fairly stunning. It's able to do things that are qualitatively much more sophisticated than anything we've seen before."
"The idea that a company headed by the richest person on the planet could get a tax exemption in the richest county in the country completely summarizes the deceptive packaging of the whole program."
In a media tour that culminated on Friday, 95 year old Munger was critical of the wealth tax, the national debt, printing too much money and - of course - Elon Musk.
Property prices in Dubai have fallen by about 25% on average since peaking in 2015. Dubai was one of the worst performing cities in the world for real estate prices over the last two years.
