AUDIENCE MEMBER 00:08
I want to ask you about Tesla.
The company has a market capitalization of about a $140 billion. It traded last week about $200 billion in stock and traded about $500 billion in options. And the stock moved about 20% a day, meanwhile Mr. Musk seems thrilled to stoke this volatility.
I want to know what your thoughts are on this situation and particularly what your thoughts are on Mr. Musk’s behavior.
CHARLIE MUNGER 00:38
My thoughts are two: I would never buy it, and I would never sell it short. (Laughter & Applause)
I have a third comment. (Laughter) There's a man [inaudible] name Howard Ahmanson he once said something that I’ve taken to my heart: “Never underestimate the man who overestimates himself.”
I think Elon Musk is peculiar and he may overestimate himself but he may not be wrong all the time.