Dear Rundown Reader,

If you follow, own, or are even somewhat interested in Tesla stock, buckle up for today.

But first: On classic cars as a disaster hedge, good enough for Mad Max as one reader put it yesterday, another reader writes:

In reply to the guys who think that gold, silver, or muscle cars are the answer to surviving an economic / social meltdown, theyre kidding themselves. The only true hedge against disaster is food. Period.

Before we tackle this comment, did you know Tina Turners We Dont Need Another Hero from the Mad Max Beyond Thunderdome soundtrack was nominated for both a Grammy and a Golden Globe?

Back to food as the ultimate disaster hedge, wed be inclined to agree. A recent debate in our offices went through the list gold, fuel, bullets, liquor, cigarettes, toilet paper, food.

Time and again, scenario after scenario, consumables like food and clean water came out #1.

Of course, disaster isnt one unknown event. Its a continuum of possible events.

Our point: If youre interested in preparing for the unknown, best to prepare for a wide variety of scenarios. It isnt just gold and silver. It isnt just food and water.

Ok, hold on, here comes the latest Tesla news. Your Rundown for Friday, September 28, 2018.

Bust a Deal, Face the Wheel

Bloomberg, Reuters, CNBC, The Wall Street Journal and others this morning report Teslas (TSLA: NASDAQ) Elon Musk walked away from a last-minute deal yesterday that couldve avoided an SEC suit.

CNBC says, according to reporting from Andrew Ross Sorkin, that the deal wouldve included a small fine and no lasting repercussions for Musk. Including his ability to remain a Tesla officer.

Musk changed his mind on signing at the 11^th hour, refused to agree, and the SEC sued Tesla.

If youre catching up, on August 7 Musk tweeted he had plans to take Tesla private in a deal that wouldve, at the time, been worth $72 billion.

The Wall Street Journal reported that on July 31 Musk met with reps from a well-known sovereign wealth fund interested in taking Tesla private.

On August 13, Musk said the Saudi sovereign wealth fund had approached him numerous times over a two-year period.

By August 24, Musk said he had decided not to pursue taking Tesla private.

The SECs problem is what Musk announced, when he did it, and what the material impact of those announcements were on Tesla stock and shareholders.

Long run, in a strange way, Musk may have done the right thing by refusing to pay a small fine and making this go away quietly.

Short run, his reputation will continue to suffer, Teslas board is going to face some tough decisions, and shareholders, well heres three months of Tesla stock:

Tesla shares closed yesterday down slightly at $307.52.

Pre-market this morning shares are down 12.47% or $38.35 at $269.77.

What is the price of pride?

How does sentiment and belief of the crowd move share prices?

Click here for the answer.

This isnt the first time a larger than life CEO has caused short term pain for shareholders only to eventually change the world.

Then again, well, who knows. Maybe this is it. Stock market Bartertown can be a rough place.

Market Rundown for Fri., Sept. 28, 2018

S&P 500 Futures are down 9.25 this morning at 2,910.

Oils up a few pennies at $72.15.

Golds off $1.70 to $1,185.

Bitcoin goes for $6,644 this morning. Have a great weekend.

Well talk again on Monday.

For the Rundown,

Aaron Gentzler