https://www.focus.de/finanzen/boerse/tesla-abrechnung-mit-elon-musk-die-firma-ist-nicht-mehr-zu-retten_id_10416319.html?obref=outbrain-fol-web&cm_ven=focus_outbrainTranslated by google, link above goes to original article:
"The company is beyond saving"
Thursday, 07.03.2019, 18:34
US investor Mark B. Spiegel is considered one of the toughest Tesla critics. In the interview, he accuses Elon Musk of lying and doubts that Tesla can keep his predictions. And he raves about the German car makers.
FOCUS-MONEY: They have long been on falling courses at Tesla and say so publicly. Some find this immoral, not least Tesla boss Elon Musk himself.
Mark B. Spiegel: I would like to give you two answers. First, Musk is probably the most immoral CEO I've ever seen. He throws dangerous cars with in my view untested "autopilot" on the road, he manipulates stock prices for me; and this "environmentalist" keeps using his private jet, even for short distances. So much for morality. But moral is not a relevant category when buying or selling stocks. You place a bet on how the stock will move. If I were convinced that Tesla was the best company in the world, but at the same time would believe that it went bankrupt, I would also bet on falling prices.
"Tesla shares extremely overvalued"
MONEY: You claim that you are serving the public.
Mirror: Yes. On the one hand, I warn against problems with this stock. It has been clear to me for years that she is extremely overrated. Even if one disregards the lies and frauds, the price is only justified if one assumes that the production figures are in the millions. I think that is completely out of the question. Second, we try to alert the regulators to the safety issues of the cars, especially the autopilot. Third, we warn potential buyers. They can take note or not, at least everyone knows what he's getting into.
To person
Mark Spiegel, 57, heads the hedge fund Stanphyl Capital. He first recorded a small short position on Tesla in 2013, which has since grown to "several million dollars". Spiegel criticizes Elon Musk for years publicly, among other things on the short message service Twitter. The passionate Porsche driver lives in New York.
MONEY: You accuse Elon Musk of misleading the markets. But he too can not look to the future, right?
Spiegel: As CEO, one can predict forecasts of certain market movements that fall into the category of "Safe Harbor". You must not be sued if they do not occur, provided the statements were made in good faith. But Musk not only pushes these boundaries, he simply transgresses them in my view.
MONEY: Where, for example?
Spiegel: The assertion in the summer of 2018 that Tesla could be withdrawn for $ 420 a share was probably the most glaring incident. A smooth lie. He did not get away with it, but he got a very light sentence for the CEO of a publicly traded company. Everyone else would have been fired.
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MONEY: That would be the task of the Supervisory Board.
Spiegel: The supervisory board is scared stiff of Musk, he does not dare to fire him, and so he ultimately got away with a small penalty by the Securities and Exchange Commission SEC and some conditions. For example, Tesla was supposed to appoint an independent boss - and appointed a woman who was already on the board, which in principle does not take place at all and tells Musk that he controls her and she does what he wants. On top of that, he has publicly said on television that he does not respect the Securities and Exchange Commission SEC ...
Elon Musk: Does the purpose sanctify the means?
MONEY: Why is he getting away with it?
Spiegel: Some journalists and politicians say: well, it's not lies, just exaggerations, and in the end, everything that he prophesies happens. Others say, "Yes, he is a liar, but he is 'our' liar." These people - I dare to compare them to certain supporters of Donald Trump - are, unfortunately, convinced that the end justifies the means. But we are not dealing here with a religious community or sect, but with a company. And if a CEO always says the untruth, then that questions the company as a whole.