On: Morgan Stanley Slashes Worst-Case Price for Tesla to $10

[mruts]

I mean surely you don’t think Goldman Sachs, Morgan Stanley, JP Morgon, etc are still around because of survivorship bias? That is, everyone is just flipping coins and some people got lucky.

If you think that’s true, the natural correlary is that all companies are just flipping coins.

[nradov → mruts]

Those firms make most of their profit most years from fees, not trading for their own accounts.