Since the first positive earning was posted in the most recent quarter, Tesla‘s stock price has been on a rocket, tripling from around $50 to a historical high level of $150. I’ve been following Tesla since 09, long before it even went public, because I did a valuation on it as a class project. I remember I got a 30ish price from a multi stages DCF model, which is not too far from its IPO price later. Did I buy any of it afterwards? Sadly no.
Zeng Chengjie, a Chinese businessman from Hunan province sentenced to death for charges of illegal fundraising, was recently executed without authorities notifying his family, a lapse which sparked considerable backlash among Chinese Internet users. Zeng was not the first entrepreneur to receive a death sentence for financial crimes: Wu Ying, a businesswoman from Zhejiang province, was sentenced to death for defrauding investors of over 300 million RMB (about US$49 million) just several years ago. Unlike Zeng, her sentence was commuted to ‘death with a two-year reprieve,’ which in China’s judicial system is usually then commuted to a life sentence after two years. Yet both cases show that harsh sentences often await those convicted of economic crimes in China, without regard to the flaws in the system that have led to their actions in the first place.