What-if certainty 5/5 debate potential 3/5

Salem: Elon Musk's favorable narratives are driven by Tesla's reflexive stock price

David Salem · David Salem - Investment Wisdom from the Owner's Box (EP.409) · Sep 30, 2024 · at 33:17

David Salem discusses how narrative economics and Soros-style reflexivity explain public perceptions of high-profile figures like Elon Musk.

0:00 / 0:15exact quote · 15.2s
720p mp4 · rendered on demand · StarZero watermark
“But I assure you that the narratives that are swirling on Elon Musk, particularly the favorable ones, would not be swirling and would not be of the character that they are if he weren't one of the wealthiest people in the world. That price has driven the stock which drove the narrative in a reflexive George Soros-like fashion.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from David Salem

Opinion
Salem: The prudent allocation to Chinese-domiciled company stocks is zero
“And that is one important reason, among many others, why I continue to maintain that I think from a tactical and a strategic point of view, but most emphatically from a policy point of view, the prudent allocation to stocks of companies domiciled in China is z…”
David Salem Sep 30, 2024 ▶ 39:47 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Opinion
Salem: Asset managers cannot rigorously prioritize ESG while maintaining fiduciary duties
“I think there are some very conspicuous, visible actors running some of the largest asset management firms in the world that a few years ago Started to exalt and extol the virtues of ESG to an extent that even at the time, some of us could say, wait a minute, …”
David Salem Sep 30, 2024 ▶ 51:35 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Insight
Salem: Throwing a golf club should immediately disqualify an asset manager
“If you get on a golf course and you see a manager that you either have money with or might consider giving money to, And they hit a bad shot and they throw their golf club. Disqualifying. Disqualifying for business, for managing money. Why? Because they can't …”
David Salem Sep 30, 2024 ▶ 20:01 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Assertion Not checkable as stated
Salem: GMO's founding partners were famously not speaking to each other
“You look at GMO when I joined it, everything's firing on all cylinders. The returns are great. They're growing. The sun is shining. You get in there and after a week or two, you realize that founding partners don't even talk to each other.”
David Salem Sep 30, 2024 ▶ 27:44 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Opinion
Salem: Admitting China to the WTO in 2001 was a massive mistake
“Starting with China's admission to WTO in 2001 of the great policy mistakes I I think this country has ever made.”
David Salem Sep 30, 2024 ▶ 41:34 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Assertion Not checkable as stated
Salem: Top LPs realize cash returns far below reported venture capital IRRs
“A lot of LPs of longstanding relationships going 3040 years back to the firms that are still on the short list of what are the best BFC firms in the world have gotten returns that are quite a bit south of The IRRs that reported in those manager records.”
David Salem Sep 30, 2024 ▶ 50:17 David Salem - Investment Wisdom from the Owner's Box (EP.409)
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 700 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.