"Overvalued" is a funny term -- how can you overvalue a company who's competing on innovation? Remember people said the same thing about Facebook when they were worth $50b and Google when their only products were search and gmail. I agree that it's a risky buy, I disagree with the notion that there's something fundamentally wrong with high-value speculation.

Agree, there's nothing wrong with high value speculation as long as you recognize it.

Tesla is overvalued. If you were to take a present snapshot in time (a data point) and compare the assets and cash value of Tesla with what its stock price is it would be wildly off.

Everyone always remembers the winners, the Googles, Microsofts, and Facebooks. No one remembers the hundreds of dot bomb companies (including Cisco) that saw tremendous loss in stock when everyone thought they were "certain" to succeed.