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Stock Exchange: Warren Buffett replaced: Elon Musk is the new “oracle” | news

• Musk’s influence on the financial market has been visible for years
• Is the investment oracle moving from Omaha to Austin?
• How can Musk outshine Buffett?

In the past, Musk’s followers have massively bought stock in Tesla, Etsy, video games like Cyberpunk or Signal in response to his tweets. Stock prices rose significantly on the same day.

Particularly noteworthy is the post on the Messenger Signal service of January 7, 2021, “Uses Signal”: because the competitor of WhatsApp is run open source by a non-profit foundation and is not even listed on the stock exchange. Despite this, Musk fans bought “Signal” stock in a biotech company whose market value has increased by more than 5,000 percentage points in the short term. In his tweet, Musk just wanted to urge his followers to use the WhatsApp competitor, but it triggered massive moves in the stock market. Here’s how Twitter followers eagerly await investment advice from the richest man in the world.
A Piplsay poll of 30,400 Americans found that Elon Musk’s personality is decidedly polarizing: his positive traits outweigh the negative ones among respondents, with arrogance standing out the most at 35%. He is considered by many to be the most influential entrepreneur in history, an entrepreneur, visionary and designer. But his influence on the financial market is also evident. 70% of respondents consider Musk a genius, and 37% say they have made investments based on Musk’s recommendations at least once.


From product recommendations to investment strategy

Of course, cryptocurrencies always play a crucial role in the investment advice of the self-proclaimed “Father Doge”. Musk often said he wouldn’t sell his Bitcoins even if there were big fluctuations.
More recently, the more long-term strategic orientation of the suggestions has been evident in Musk’s tweets. In March, the billionaire advised his followers to invest in physical assets and crowd investing, saying it pays off in the long run. In times of high inflation, it is advisable to bet on stocks as well, so Musk, like Buffett, recommends owning stocks.
Musk’s post from May 1 has been liked millions of times: “Since I was asked a lot, I thought about it: buy stock in different companies that make products and services that * you * believe in.” Musk continues: “Only sell if you think their products and services are going down. Don’t panic if the market does. It will serve you well in the long run.”

Musk’s mother Maye Musk wanted to point out her son’s abilities and responded to this tweet saying that Elon had already given her successful stock advice when she was 14. Since a friend of her stockbroker advised her not to invest, she only took a smaller risk and only invested R1,000.

According to her, the investment was successful and split the profits between her three children, likely to her son’s annoyance. However, she admitted that her actions in hers could have been even more successful if she hadn’t panicked and she hadn’t sold out too soon. It is not known which company she was.

From Omaha to Austin – Who is Oracle for Investors?

Warren Buffett, investor legend, CEO of Berkshire Hathaway, Wall Street skeptic and Bitcoin opponent, has enjoyed the respect, even admiration, of investors around the world for decades. Buffett’s near-cult cult is particularly tangible at Omaha’s annual shareholders’ meeting, which is attended by investors from around the world. Exactly this weekend of the “Wood of the Capitalists” in Omaha, Elon Musk used to react to the umpteenth request and give financial advice to his followers.
With Twitter as a medium, Musk can obviously reach his followers much faster and directly than Buffett does with his shareholder letters and annual meetings. The reactions are usually direct and public, discussions can arise, as can also be seen from the aforementioned tweets with over a million likes and over 45,000 comments. Especially among younger investors, the richest man in the world, whose goal is to conquer Mars, will gain even more influence.
Recently, Warren Buffett also found words of praise for Elon Musk in an interview with Charlie Rose.

Financeen.net editorial staff

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