Feb 11Liked by Antonio Linares

Hi Antonio

Upfront - not a TLSA short, and wish Musk all success in his mission. Your statements re cash and LT debt, however, are highly misleading. The cash + ST Investments are more than offset by short term liabilities. You could argue that ST Assets > ST liabilities, which is fair if you assume the business keeps churning through its WC cycle, but from a pure BS analysis perspective, one should haircut the inventory component quite heavily.

Anyway - not implying you're trying to mislead, but I think in particular in the case of an ethically impaired leader as is the case here (most recent example: sign contract, then thinks he can just say 'nah, changed my mind'), it behoves any honest analyst to be conservative and ultra-specific with statements, lest you just become part of the touts for whom everything Elon does is great and every criticism is sacrilege.


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Hi Antonio, thanks for sharing!

Do you think consensus analysts are wrong projecting next 5yrs growth CAGR at 25%?

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