Welcome to Animal Spirits, the podcast that takes a completely different look at markets and investing,

hosted by Michael Baddick and Ben Carlson, two guys who study the markets as a passion,

and invest for all the right reasons.

Michael Batnik and Ben Carlson work for Rit Holt's wealth management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions and do not reflect the opinion of

Ritholz wealth management. This podcast is for informational purposes only and

should not be relied upon for investment decisions. Clients of Ritholz wealth

management may maintain positions in the securities discussed in this podcast.

Welcome to Animal Spirits with Michael, Ben, and Morgan Housall is in the building today, so to speak.

I was driving on the Long Island Expressway,

one of the New York Highways the other day,

Tuesday, mid afternoon, and I see a tweet.

I'm considering taking Tesla private at 420 funding secured from

Elon Musk and I almost rear-ended the car in front of me.

What did you guys think when you saw this?

I mean my first reaction was it was he got hacked. I think that was most people's

first response like there's no way that a CEO who almost certainly has a legal team surrounding him would do something like this.

So that, and I feel like that was most people's response and that's why the stock even though the you know the gap between where it was currently trading and

420 dollars a share was pretty big at the time and it didn't move up that much

so I think most people's response was like no way there's no way that this is how they would announce it.

And I think that's still like so people can't believe that someone would do that and of course

he's being investigated by the SEC but that was my first response is no way.

...