Elon Musk is the new Oracle.
The title, which is held in high esteem by both Wall Street and Main Street, was previously awarded to veteran investor Warren Buffett, 91, known as Oracle of Omaha.
Buffett inspires respect, admiration and devotion where his group’s Berkshire Hathaway (BRK.A) – Get Berkshire Hathaway Inc. shareholder meeting. The last few years have been a kind of pilgrimage for the army of his fans. Joe often travels around the world to hear and see him, as well as his business partner Charlie Munger. His every financial advice is interpreted and interpreted. Both bosses and amateur investors try to make his recommendations and opinions a reality.
For decades, many investors and CEOs approached Buffett in the hope of appointing him as their ‘successor’, but no figures were forthcoming.
But the joke is, on the eve of a Berkshire Hathaway shareholder meeting, for the first time since the Covid-19 epidemic, personally, Elon Musk was forced to choose a successor from Buffett.
Musk accepted his new position
Even the symbol!
Musk, for observers in his 50s, knows that the billionaire calculates his every move well. So it doesn’t matter that he chose Buffett’s Celebration Day to take on the role of Oracle, with nearly 90 million Twitter followers urging him to play for months. Originally the richest man in the world used to say that a new era has started. An era of which he is the focal point.
So the series entrepreneur will now start giving financial advice to those who come to him for advice. His interactions and movements, which have already been closely watched, will be even greater.
“Since I’ve been asked so much: buy stocks from many companies that make products and services that * you * believe in,” Musk wrote on Twitter on the morning of May 1.
He added: “Sell only if you think their products and services are deteriorating. Don’t panic when the market is up,” Musk said. “It will serve you long term.”
At the time of writing the tweet had already been liked more than 450,000 times.
We have to make it a habit to say that the city where Austin’s Oracle and Musk now live, the headquarters of Tesla at the end of 2021, is not far from the aerospace company he founded to conquer SpaceX, Mars.
Fans love it
In ancient Greece, the oracle is the God-given answer that is usually a personal question related to the future and often needs to be interpreted. By extension, the word “oracle” also refers to human mediators who transmit the answer of the gods as well as the holy place of the answer.
So, as the tech tycoon puts on his Oracle outfit, it’s no surprise that Twitter users started bombarding him with questions about the best investment in Musk.
“What about real estate, is it a good investment?” Asked by a user.
“Elon I put all my life savings into Doge coin when it was over ¢ 70 and I’ve been keeping it ever since,” another posted, meme coin dogecoin, referring to Musk’s favorite crypto. “I have to take another mortgage in front of my house, sell my car and donate a plasma to complete it. Should I continue Hodl?”
“What do you think about Metavers / Digital Land Purchase?” Another user asked the billionaire.
Musk did not answer these questions, but his first advice as a theologian was taken as good news by some fans.
“Invest in what you love, the best advice is to live,” said Lex Friedman, whose podcast features Musk as a guest.
“Those are good, simple suggestions,” said another user.
Musk Blast Index Fund
Shortly before it officially became Oracle, Musk sharply criticized index funds in an exchange started by tech investor Mark Andreessen.
“The shareholders are not pressuring themselves, they are managing agents – professional investment managers – look at Larry Fink, for example, who has 00 0.0000001% of the capital they are talking about,” Andreessen wrote, referring to BlackRock CEO. .
“Of course, decisions are being made on behalf of the actual stakeholders which is against their interests!” Musk commented. “Major Problems of Index / Passive Funds.”
When the user who agreed with him added that “the reason arbitrageurs (active investors) do this is because the market reflects the fundamentals of companies. So what happens when everyone is inactive?” Musk did not hesitate.
“There should be a return to active investment,” Musk said. “The idle has gone too far.”
Twitter (TWTR) – Get Twitter, Inc. Musk has already managed to persuade Wall Street, as the report makes clear through its ongoing edits for $ 44 billion. According to press reports, the CEO of Tesla (TSLA)