Speaker 1: This is Bloomberg Business Week. I'm Carol Masser and I'm
Speaker 1: Jason Kelly. We're here every day bringing you the latest
Speaker 1: news from the world's of business and finance, plus technology, politics, economics,
Speaker 1: all harnessing the power of Bloomberg Business Week reporters and editors,
Speaker 1: not to mention our hundred journalists and analysts more than
Speaker 1: a hundred and twenty countries. You can download Bloomberg Business
Speaker 1: Week on iTunes, SoundCloud, or Bloomberg dot Com. You can
Speaker 1: also listen to our radio show weekdays at two pm
Speaker 1: Eastern only on Bloomberg Radio. So I have to think
Speaker 1: that Ashley advanced, you know that says walk in music
Speaker 1: in some ways. Given everything he has written about, we
Speaker 1: have many many things to talk to him about, not
Speaker 1: least which is his story in the most recent edition
Speaker 1: of Bloomberg Business Week. Ashley is a feature writer for
Speaker 1: the magazine. He joins on the phone from Palo Alto, California.
Speaker 1: Joel Weber, the editor of the magazine, is here with
Speaker 1: us in our Bloomberg Interactive Broker studio. All right, so
Speaker 1: a small rocket maker running a different kind of space race.
Speaker 1: Ashley all eyes on space. It feels like these days,
Speaker 1: tell us about this guy. Yeah, well, so there's this guy.
Speaker 1: These guys. Yeah, it's a company called Astra, and they're
Speaker 1: based in Alameda, California, which is just kind of right
Speaker 1: next door to Oakland in San Francisco. And for the
Speaker 1: last three years they've been building a what's meant to
Speaker 1: be a small cheap rocket pretty much in in secret
Speaker 1: until we did this story. So actually the talked about
Speaker 1: the model that they're trying to develop here. Yeah, I
Speaker 1: mean there's you know, for a long time, space was
Speaker 1: obviously kind of controlled by a handful of governments that
Speaker 1: had big, expensive rockets that didn't launch very often. And
Speaker 1: then Ellen came around with SpaceX and and made a big,
Speaker 1: expensive rocket that launched more often. And what these guys
Speaker 1: want to do is they're part of this the whole
Speaker 1: class of startups that want to build much smaller rockets that,
Speaker 1: instead of costing sixty million or a hundred million dollars
Speaker 1: per launch, cost anywhere from one to seven million dollars
Speaker 1: per launch, and so they can't take as much stuff,
Speaker 1: but they get you to space much more cheaply. And
Speaker 1: the idea is that they may be able to launch
Speaker 1: instead of once a month maybe as much as every
Speaker 1: single day. And so it's it's you know, I put
Speaker 1: it in the story, this idea of becoming like the
Speaker 1: FedEx for space right sustainability comes to the space uh industry.
Speaker 1: What's interesting is Astra Right was among a few finalists.
Speaker 1: Um they'd being out some really well known competitors. We're
Speaker 1: talking about Virgin and some others. Right, Yeah, there's this DARPA,
Speaker 1: the kind of R and d arm of the Defense
Speaker 1: Department is sponsoring one of these. They do these grand
Speaker 1: challenges for various things, and so they have this thing
Speaker 1: called the Launch Challenge, and the whole idea was to
Speaker 1: get all these small rocket startups to compete against each
Speaker 1: other to see who could launch two rockets in a
Speaker 1: very short span of time. I've few weeks in between
Speaker 1: the launches, and and dozens of companies applied to be
Speaker 1: in this. Virgin was one of the three finalists. As
Speaker 1: the list got whittled down in another company called Vector,
Speaker 1: and so Vector went out of business last year and
Speaker 1: Virgin pulled out of the competition, and so now Astra
Speaker 1: is the last rocket makers standing. So actually, another part
Speaker 1: that I'm kind of interested in here is like where
Speaker 1: they are in their trials, because this is like, it's
Speaker 1: not a foregone conclusion that this is all going to
Speaker 1: go their away. No, not at all. Yeah, I mean,
Speaker 1: you know, this is this business is hard SpaceX. Yeah.
Speaker 1: You know, they blew up their first three rockets before
Speaker 1: they finally got one to work, and so um, you know,
Speaker 1: as I mentioned at the beginning, Astra has been operating
Speaker 1: in secret, but I've been following them, um during this
Speaker 1: whole journey. And so they have actually already flown to
Speaker 1: rockets from a spaceport in Alaska that's that's kind of
Speaker 1: run by the government, and both of those and quite badly,
Speaker 1: the rockets came back to Earth before they were supposed to.
Speaker 1: And and this new rocket is you know, they spent
Speaker 1: the last year revamping it, making it bigger, redoing the engines.
Speaker 1: And so in February, late February, they're gonna make another
Speaker 1: attempt to go to orbit. But again, like you said,
Speaker 1: I mean, this this may not work. And if it
Speaker 1: doesn't work, they're under a lot of pressure because there
Speaker 1: is a company in New Zealand called rocket Lab UM
Speaker 1: that's been doing very very well and has been launching
Speaker 1: all the time. And actually, you know, this world so
Speaker 1: well from so much reporting that that you've done, I mean,
Speaker 1: where are we in sort of the the development of
Speaker 1: this industry as it were? Is this, we're still at
Speaker 1: the stage where a lot of flowers are going to bloom,
Speaker 1: as they say, and ultimately there will be consolidation. Has
Speaker 1: there already been consolidation? What does this look like as
Speaker 1: we go through the next five to ten years in
Speaker 1: your estimation? Yeah, I mean it's kind of funny. You know.
Speaker 1: So when SpaceX finally sort of hit its stride, I mean,
Speaker 1: it opened up this idea that okay, individuals and in
Speaker 1: private companies can finally get rockets to space. And so
Speaker 1: there's been this flood of startups who are come in
Speaker 1: and tried to prove they can build a rocket and
Speaker 1: all this money that's come in, but it's just completely
Speaker 1: unclear that there is a market for this many rockets
Speaker 1: and and the need to launch a rocket every day.
Speaker 1: The well, yeah to that in like who do they
Speaker 1: see being potential customers? Yeah? I mean the big driver
Speaker 1: for this is that that traditionally satellites were things that
Speaker 1: took like ten years to build, they cost a billion
Speaker 1: dollars each, and they were about the size of a
Speaker 1: car or a bus, and and you just launched it
Speaker 1: and you left it up there for a long time.
Speaker 1: But now there's there's literally, you know, anywhere from like
Speaker 1: it's probably about a hundred UM satellite startups that have
Speaker 1: much smaller satellites about the size of a basketball, and
Speaker 1: they want to put up hundreds, if not tens of
Speaker 1: thousands of these satellites for all kinds of tasks, imaging
Speaker 1: the Earth, connecting, you know, the Internet of Things, all
Speaker 1: these devices, creating sort of space based internet networks. UM.
Speaker 1: And so the whole theory is that these small rocket
Speaker 1: companies will serve these small satellite makers and you'll just
Speaker 1: have these rockets going up every day taking new satellite
Speaker 1: in the orbit. But we don't know, We only know.
Speaker 1: We don't know if the business case for these satellites
Speaker 1: will work. We don't know how many of these companies
Speaker 1: will survive or how many rockets will be needed to
Speaker 1: do all this. Okay, so what is it about these
Speaker 1: guys and their technology, Like, what what's been the breakthrough
Speaker 1: that that you know makes them the one to watch
Speaker 1: the So so if Rocket Labs kind of the gold
Speaker 1: standard right now for these small rocket makers, you know,
Speaker 1: and it charges about seven point five million per launch.
Speaker 1: It has this beautiful rocket that's made of carbon fiber
Speaker 1: and and all these three D printed engines and everything.
Speaker 1: Astra wants to be the low end of all this.
Speaker 1: So they're using really kind of like no breakthrough techniques.
Speaker 1: They're they're using aluminum um. Everything in the machine shop
Speaker 1: is is sort of techniques that have been perfected for years.
Speaker 1: But their whole pitch is that they'll be the first
Speaker 1: ones who get mass manufacturing of these types of things
Speaker 1: down and actually get the cost. Instead of seven point
Speaker 1: five million, they want to get it down to like
Speaker 1: a million pro launch, and so price would be their
Speaker 1: their big weapon. I guess actually just got about a
Speaker 1: minute left. Got to ask you, you wrote the book
Speaker 1: on Elon Musk, Tesla SpaceX and the Quest for a
Speaker 1: Fantastic Future. We'd be remiss. What do you make of
Speaker 1: Tesla um just you know, shooting to the Moon no
Speaker 1: pun intended. It's up another twenty just got about forty
Speaker 1: five seconds. What do you make of what we were
Speaker 1: seeing this year when it comes to Elon Musk. I mean,
Speaker 1: it's kind of amazing because this time last year it
Speaker 1: looked like the whole thing was going to go under,
Speaker 1: and that's what everyone was asking me, and so, I mean,
Speaker 1: it's just it's just it's it's sort of crazy. It's
Speaker 1: hard to put into words. I mean to me, if
Speaker 1: you look at it now, they've obviously got their house
Speaker 1: in order a lot better. But but people are clearly
Speaker 1: betting that this is like much more than If you
Speaker 1: believe this valuation, you're sort of believing in a future
Speaker 1: where Teslas and energy compy and your car market and so,
Speaker 1: I don't know, it's a little hard for me to yeah,
Speaker 1: fully buy in where it is right now. But they're
Speaker 1: doing much better forward looking pee of ninety five. What's
Speaker 1: wrong with that? Just get a say? Check out Ashley's
Speaker 1: book Elon Musk, Tesla SpaceX in The Quest for a
Speaker 1: Fantastic Future, and of course check out the magazine UH
Speaker 1: that story going to be featured when it hits news
Speaker 1: stands later this week. It's already at Bloomberg dot com
Speaker 1: and on the Bloomberg terminal our thanks to Ashley Vance
Speaker 1: joining us from California on the phontal webber or thanks
Speaker 1: to him as well, Bloomberg Business Week editor in our
Speaker 1: interactive Broker Studio. You are listening to Bloomberg Business Week
Speaker 1: here on a Monday afternoon, Andy Brown, with his editorial
Speaker 1: director for Bloomberg New Economy. His column, I have to say,
Speaker 1: is a must read every week, especially at a time
Speaker 1: where we are fascinated and have to be with the
Speaker 1: nexus of the US and China in the broader global economy.
Speaker 1: And that really took an interesting term when it comes
Speaker 1: to Huawei. Recently with a country with which the United
Speaker 1: States has traditionally had a quote unquote special relationship got
Speaker 1: a little less special, or a little more complicated, to
Speaker 1: say the least. Uh. Andy, He's here with us in
Speaker 1: our Bloomberg Interactive Broker Studio talking about Boris Johnson, newly
Speaker 1: freed up, newly brexited, and he's saying, whoa wait, yeah,
Speaker 1: we'll do a deal with you, Donald Trump. Sorry about
Speaker 1: that exactly. The relationship is now a little bit less special.
Speaker 1: It was only a few years ago under the cameraon
Speaker 1: Government that the British were talking about the golden age
Speaker 1: of relations between the U, between the United Kingdom and China,
Speaker 1: and that's certainly had a bearing on the outcome of
Speaker 1: this decision. Look, this is really I think a historical
Speaker 1: turning point. Um. The White House was warning, it was
Speaker 1: was issuing these warnings about Huawei in almost you know,
Speaker 1: apocalyptic terms, right. The message to friends, to allies was
Speaker 1: if you go with Huawei, you must be mad. Right.
Speaker 1: So Matt Partinger, who runs China Natural Security Council UH
Speaker 1: used a Cold War analogy. He said, can you imagine
Speaker 1: in the middle of the Cold War, Reagan and Thatcher
Speaker 1: getting together and say, hey, how about this for an idea.
Speaker 1: Let's get the KGB to build calms networks and and
Speaker 1: and and get a cut price on on the deal. Right, crazy? Right,
Speaker 1: So in Britain takes all this on board. Boris Johnson
Speaker 1: hears this and it was like, yeah, we get it.
Speaker 1: We understand Huawei is a risk. We're only gonna let them,
Speaker 1: but we're gonna we're gonna let them in, right. Um,
Speaker 1: And I think this idea that I mean it was
Speaker 1: Henry kissing your at our New Economy Forum just a
Speaker 1: few months ago, was warning that we are in the
Speaker 1: foothills of a new Cold War. Well, you know, maybe
Speaker 1: we're always going to remain in the foothills because it's
Speaker 1: really going to be incredibly difficult for the United States
Speaker 1: to put together a coalition of friends and allies to
Speaker 1: have a cold war with China. The world is not
Speaker 1: working that way anymore. If it ever did right limiting
Speaker 1: the flow of technology in and out of China, it's
Speaker 1: just it can't. It's not possible, surely. So the UK
Speaker 1: so UK UK saying several things. First of all, it's
Speaker 1: too expansive. They already have Huawei gear embedded in their
Speaker 1: three G four G network, so if they're gonna go
Speaker 1: with Huawei and five G, it means they have to
Speaker 1: rip all that out, and then they're gonna have to
Speaker 1: pay more for presumably ericson no no Nokia Networks plus.
Speaker 1: And here's the killer thing. It's going to offend China.
Speaker 1: If you're the United States, you can take on China.
Speaker 1: You can stand up to China. We've seen that, right,
Speaker 1: Donald Trump, the White House take on China. We're gonna
Speaker 1: have a trade war with China. If you're the UK,
Speaker 1: you cannot do that. They need a trade deal with China,
Speaker 1: just as they need a trade deal with the United States.
Speaker 1: Now they're out of the EU. Now you imagine this,
Speaker 1: This is Britain. This is as you say, the Special
Speaker 1: relationship America's closest. Ally, if you are a Singapore or
Speaker 1: a you know, Philippines or a smaller, weaker country more
Speaker 1: distant from the United States, you're looking at this and
Speaker 1: you're you're also way in your alliances, your allegiances, and
Speaker 1: which way you're gonna go if you're gonna be asked
Speaker 1: to choose. I also thought it was interesting Andy in
Speaker 1: your column how you also wrote about Britain really knowing
Speaker 1: Huawei better than anyone else, that they have really looked
Speaker 1: at this company from a bunch of different angles. Correct,
Speaker 1: They've ripped, They've ripped a pot all the software. They
Speaker 1: haven't found anything in the software. In fact, nobody has
Speaker 1: any hard evidence that Huawei has backdoors or that it is,
Speaker 1: you know, actively planning sabotage or surveillance. Um, the issue
Speaker 1: really is its relationship with the Chinese state. Would Huawei,
Speaker 1: if usked act on behalf of the Chinese Communist Party?
Speaker 1: And Huawei will say definitively No. The rest of the world,
Speaker 1: much of the rest of the world says definitively, are
Speaker 1: you kidding? Of course, they would write skeptical and at
Speaker 1: least so, while we have you and just a couple
Speaker 1: months we have left. I have to ask you about
Speaker 1: the coronavirus and certainly the political implications of it, especially
Speaker 1: in China, because you wrote about this last week and
Speaker 1: it feels like this whole notion of the impact on
Speaker 1: President she especially is being talked about a lot. Remind
Speaker 1: us what you think. So you know, we have a
Speaker 1: we have a top down system in China, uh and
Speaker 1: she Jimping has concentrated power in his hands beyond any
Speaker 1: leader since Chairman Mao, and it means that you know,
Speaker 1: he ultimately is responsible for this. The story that's been
Speaker 1: the story that's been coming out has been the initial
Speaker 1: cover up that China missed early opportunities. And why is this?
Speaker 1: You know, why did lower level officials not kick it up?
Speaker 1: Were they afraid to kick it up because it was
Speaker 1: too politically sensitive? Were they sitting on their hands waiting
Speaker 1: for the Chinese leadership to make a decision up in
Speaker 1: Beijing and then hand it down. Certainly, I think you
Speaker 1: can say this without any doubt, is that a free
Speaker 1: media in China would have picked up on these cases
Speaker 1: and would have had it out there in the public
Speaker 1: view and in the public mind way earlier, on which
Speaker 1: would have allowed for a more rapid response, and I
Speaker 1: forgive me, and because I want has to be quick
Speaker 1: thirty seconds. So as president g at risk at all.
Speaker 1: You know this, you know country better than most. You know,
Speaker 1: it really depends on how this whole coronavirus plays out.
Speaker 1: I mean, we don't we just it's just so much
Speaker 1: about it. We don't know. I mean, if it all
Speaker 1: burns out in the next few weeks. Look, the government
Speaker 1: is also doing a great job. They're building hospitals. You know,
Speaker 1: they've taken decisive action. So you know, it's it's it's
Speaker 1: a central government that appears to be in control and
Speaker 1: in command. I think the picture looks very different if
Speaker 1: there's if there's drags on for months, really knocks the
Speaker 1: Chinese economy, really knocks employment um and does lasting damage
Speaker 1: to you know, salaries and livelihoods. All Right, we're gonna
Speaker 1: be talking a lot more to you about this, we
Speaker 1: know in the coming weeks. Andy Brown, thank you so much,
Speaker 1: editorial director for Bloomberg New Economy. Here were that's in
Speaker 1: our Bloomberg Interactive Broker studio. Oh journal, but you let
Speaker 1: me drive, Oh no, no, no no, no, honey, please, I'll
Speaker 1: do the ride, revels me. I want to drive ball,
Speaker 1: just drive baby. Good questions, Drying us the drive to
Speaker 1: the globe community. Thanks well, dry Us on Bloomberg Radio.
Speaker 1: All right, it's time now for the Drive to the
Speaker 1: close on an update on the market to bounce back
Speaker 1: from Friday. What to make of it? All of these
Speaker 1: different things that we've been trying to synthesize. We're gonna
Speaker 1: put all those questions to Sean Cruz, manager of trader
Speaker 1: strategy at Tediumrritrade. He joins us on the phone from
Speaker 1: Jersey City, New Jersey. Sean, great to have you back
Speaker 1: with us. Hey, thanks for having me. All right, so
Speaker 1: what a difference you know? I guess seventy two hours
Speaker 1: makes to some extent with the market, because had we
Speaker 1: talked to you on Friday when we were in Miami
Speaker 1: sort of half watching Super Bowl preparation and half watching
Speaker 1: a meltdown, it felt very different. What do you make
Speaker 1: of the trade today? I think markets are really just
Speaker 1: sort of pulling risk off the table going into the
Speaker 1: long weekend. We had quite a few items coming out
Speaker 1: over the week when when markets are closed that they
Speaker 1: probably were just sitting by and saying, you know, and
Speaker 1: things are open again, and I can respond to this
Speaker 1: information as it comes out. That's when I want to
Speaker 1: have some of that risk on the table. And so
Speaker 1: we had a lot of potential news that could have
Speaker 1: come out about the coronavirus. You also had um the
Speaker 1: impeachment trial going on in Capitol Hill, um, and we
Speaker 1: also were looking forward to the Shanghai markets finally reopening Monday.
Speaker 1: And then keep in mind, you know those markets were
Speaker 1: going to open actually Sunday evening before we actually open
Speaker 1: here Monday morning. So I think there was just a
Speaker 1: lot that could potentially come out over the weekend where
Speaker 1: there was just really no one wanted to stop up
Speaker 1: and take risk. And that's why you just saw this
Speaker 1: gradual grind lower throughout the session on Friday. But that
Speaker 1: money looks like it's going back to work today, Yeah, exactly.
Speaker 1: And I am curious where you're seeing people put money
Speaker 1: to work. Despite all these things, Sean that we're worried about,
Speaker 1: people are still buying and selling stocks pretty aggressively, it
Speaker 1: seems like they are. And then we see that, you know,
Speaker 1: not only in our client baseball, as we just look
Speaker 1: at metrics for retail investors across across the industry um.
Speaker 1: But what we see is that during earning season there's
Speaker 1: there's a lot of individual stocks that get traded and
Speaker 1: see activity pick up um and some of those names
Speaker 1: that are coming out and reporting, And what's interesting is
Speaker 1: really the behavior. So last week we actually see a
Speaker 1: lot We saw a lot of selling in Amazon as
Speaker 1: it gapped higher, and that was just clients lightening up
Speaker 1: those positions, um maybe taking some profits. And they were
Speaker 1: also doing it a little bit in Tesla as well,
Speaker 1: so they're sort of selling into that strength. And then
Speaker 1: on the flip side of that, when Facebook sold off postings,
Speaker 1: we actually saw a little bit of buying interest in
Speaker 1: that name. So that's that's kind of the EBB and
Speaker 1: flow for how we see our our active treader clients
Speaker 1: trading around earnings specific names and sort of managing their
Speaker 1: their risk levels and I just scaling in on pullbacks
Speaker 1: and then sort of taking profits and managing their exposure
Speaker 1: on on strong rallies. So tell me Amazon Tesla were
Speaker 1: people buying that big time? There there was quite a
Speaker 1: bit of interest in Amazon and Tesla throughout the month
Speaker 1: of January, and we didn't see them flipped just completely
Speaker 1: closing out of their positions. I think what they were
Speaker 1: doing was just taking some profits when you saw these
Speaker 1: massive run ups. And if you look at Tesla once
Speaker 1: again today, Um, you know, I think there is legitimate
Speaker 1: buying going on in here. There's a story that there's
Speaker 1: just a lot of short covering. I don't really even
Speaker 1: think shortcovering could do something because a move like we've
Speaker 1: seen out of Tesla. I think there's some legitimate buyers
Speaker 1: coming in and pushing Tesla higher. And so earnings. You mentioned,
Speaker 1: you know, specific fake names. What are the ones? What
Speaker 1: are the names we should be looking at for some
Speaker 1: sense of where the consumer is, how investors are generally
Speaker 1: generally excuse me, feeling about the state of the world. Yeah,
Speaker 1: I think you know, if we're you look at it
Speaker 1: something like that, you want to look at some of
Speaker 1: the companies that have a little bit more of a
Speaker 1: global footprint. Um, this week coming out, there's some names
Speaker 1: that are that are interesting in US, and I don't
Speaker 1: know that they're necessarily anything. You can get a strong
Speaker 1: readthrough of what's going on globally. Um, you know we
Speaker 1: have Chipotle it coming out, Disney, UM, Google S evening
Speaker 1: could be something interesting to look at um qual Comms
Speaker 1: coming out later this week, And I think the chip
Speaker 1: makers have been a very interesting space to follow along with,
Speaker 1: not just this earning cycle, but over the past year
Speaker 1: as they try and work out the supply and demand
Speaker 1: balances and if you think about the end use cases
Speaker 1: for a lot of these chips, it is interesting to
Speaker 1: see what sort of demand they're seeing in their businesses
Speaker 1: because they are strong global companies and they have a
Speaker 1: lot of different applications for their chips. So it's always
Speaker 1: interesting to dig into those reports and see where the
Speaker 1: strength and weaknesses out of their various business units. All Right,
Speaker 1: I gotta ask you about Tesla because we've been talking
Speaker 1: about it all day. Uh, we've been talking about it
Speaker 1: for the last couple of weeks. There was a great
Speaker 1: cover story I'm not sure if you saw it in
Speaker 1: Bloomberg Business Week a couple of weeks ago about the
Speaker 1: shorts getting burned. I mean, they are just getting chicken
Speaker 1: fried at this point, as this stock just goes higher
Speaker 1: and higher and higher. How do you as a trader
Speaker 1: read a name like that. So there's something that he said,
Speaker 1: and there's actually a very popular firm that that's really
Speaker 1: a really big short seller even said that they tend
Speaker 1: to try and stay away from names that sort of
Speaker 1: have that disruptive feel that some of the worst you know,
Speaker 1: they've gotten burned the worst on shorting names when they
Speaker 1: turn out to be disruptive UM and they can actually
Speaker 1: really achieve some of that growth that gets priced in.
Speaker 1: And I think Tesla is finally actually starting to really
Speaker 1: deliver on a lot of those those problemses that they
Speaker 1: kind of kept getting a sense that we'll get it
Speaker 1: next quarter, we'll get it next quarter. They're finally getting
Speaker 1: the factories put up internationally, they got the one put
Speaker 1: up in Shanghai, UM, they're expecting to make, you know,
Speaker 1: similar progress in Germany, and they're starting to hit some
Speaker 1: of those delivery numbers that for a while a lot
Speaker 1: of analysts and especially a lot of people on the
Speaker 1: short side said they would never be able to hit
Speaker 1: or they'd go bankrupt before they hit those. So I
Speaker 1: think that story really came undone over the past month,
Speaker 1: and you saw a lot of capitulation out of those
Speaker 1: short sellers, and I think that was the initial move higher.
Speaker 1: I think a lot of that was short covering. But
Speaker 1: now I, like I said, I think you're getting some
Speaker 1: legitimate buyers who believe that in further upside ability for Tesla,
Speaker 1: especially if they can get the plant in Europe up
Speaker 1: and running and really start adding to capacity. So would
Speaker 1: you buy Tesla? So if I were going to come
Speaker 1: in here, I wouldn't maybe go in and buy, go
Speaker 1: all in and put everything I had to work in
Speaker 1: there right now? If I say, if I wanted to
Speaker 1: put twenty or fifty thou dollars work in Tesla, maybe
Speaker 1: don't do it all at once, Scale in a little
Speaker 1: bit and see if you do get some sort of
Speaker 1: a pullback here where you can maybe scale in a
Speaker 1: little bit of a lower price. All right, We're gonna
Speaker 1: leave there. Shaun Cruz, manager of Trader Strategy at t
Speaker 1: d Amor Trade, joining us on the phone from Jersey City,
Speaker 1: New Jersey. What a town. What a town. Thanks for
Speaker 1: listening to Bloomberg Business Week. You can subscribe to the
Speaker 1: podcast on iTunes, SoundCloud, or Bloomberg dot com. You can
Speaker 1: also listen to our radio show every weekday at two
Speaker 1: pm Eastern only on Bloomberg Radio