Matt Frankel

You hit the nail on the head with that 2021 example.

is that these are rules of thumb that work until they don't.

And when they don't, you can miss out on a lot.

You know, the sell in May and go away in 2021 didn't really work out very well if I'm remembering my calendar correctly.

But the market has an upward bias over time.

If you look at any calendar period, anyone, you know, the first two weeks of September or the last three weeks of October, whatever the calendar period may be, if you look at the market's history,

It's more likely than not to go up over any period of time because the market has a long-term upside bias.

So that's really the key takeaway here is that none of these percentages, whatever time period, are going to be below 50%.

And so it's always a good idea to be invested whatever time of year it is or whatever you think the market's going to do or whatever some indicator says it's going to do for the rest of the year.

The stock's down, spoiler alert, after earnings.

So the headline story is...

is the Tesla return to growth.

It produced a 12% revenue growth year over year after two straight quarters of declines.

That sounds great on the surface.

I wonder how much of this, which clearly a lot of it had to do with the pending expiration of the EB tax credit, which expired in September 30th.

In full disclosure, my wife and I bought our first electric vehicle about three days before that because the tax credits were about to expire.

So a lot of sales were pulled forward.

Besides that, earnings didn't miss expectations.

And when you combine an earnings miss with a revenue beat, it generally indicates worse than expected margins, which is the case here.

And in the earnings call, it's revealed that the full self-driving system, which is, I mean, that's one of Tesla's big strengths.