Tesla's Margins Face Headwinds

分组1 - The discussion highlights the concept of tax loss harvesting, which involves selling positions at a loss to lower tax liability, particularly relevant as the year-end approaches [1][2][3] - Calendar effects such as the Santa Claus rally and January barometer are mentioned, with historical data showing that the stock market has risen 79% of the time during the last five days of December and the first two days of January, and the January barometer has accurately predicted full-year returns 85% of the time since 1950 [4][5] - The importance of long-term investing is emphasized, suggesting that focusing on high-quality businesses and holding them for at least five years is more beneficial than trying to time the market based on short-term calendar effects [5][6] 分组2 - Tesla reported a 12% year-over-year revenue growth after two quarters of decline, but the earnings missed expectations, indicating potential issues with profit margins [7][8] - The operating margin for Tesla has dropped in 10 of the last 11 quarters, with R&D spending increasing by 42% year-over-year, primarily for AI development [9][10] - Regulatory credit revenue for Tesla has decreased significantly, down 44% year-over-year in Q3, with expectations of less than $1 billion in the next 12 months, which could impact profitability [9][10] 分组3 - Etsy and EnPhase Energy are highlighted as potential outperformers after being dropped from the S&P 500, with Etsy showing strong free cash flow and recent integration with AI technology, while EnPhase is noted for its international growth and innovation despite current market challenges [13][15]