For many, temporary and difficult-to-replicate accounting sleight of hand is just as valuable in creating profit as is profit from the actual manufacture of products. Fortunately for them (and not so much for investors), bubbles tend to persist long after they reasonably should pop. I guess that's why we have bubbles in the first place, because reason and logic get tossed out the window and replaced with passion.
Emotionally, Tesla is a stylish car that is stunning to look at, and based on reviews, fun to drive. Emotionally, you may pay more for a Tesla because people often use emotion to drive their purchasing decisions and subsequently justify it with (any) logic.
Using emotion to buy a car is acceptable, if you're comfortable with the depreciation and costs of the purchase. But if your objective is to make money by investing, leave your emotion in the garage and allocate your capital using logic and historical odds. If you still want to buy Tesla, just put your order in for $75 and let it sit.
By the time (and it likely will be within a few months) the stock reaches $75, the emotional attraction should diminish enough that you will want to pull that order and wait for a lower price, which it likely will reach also.DISCLOSURE: Author does not hold a position in any stock mentioned. Follow @RobertWeinstein This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.