NEW YORK (TheStreet) -- Thanks to Herb Greenberg of CNBC for relaying a story (via The Atlantic) that showcases former General Motors (GM) Chairman Bob Lutz, the man who conceived the electric Chevy Volt, slamming conservatives.
Lutz, a conservative himself, blasted "the political extreme right" for "distorting the facts of the Volt." For example, he notes that it was the Bush administration, not the Obama administration that approved the $7,500 federal tax credit for electric vehicles. According to Lutz, they "trash an outstanding American product
the Volt and do damage to American employment just to get at Obama."
I will not get into the merits of electric vehicles;
. Instead, I focus on Lutz's comments as they pertain to the stock market and its broader implications.
For the record, I am not sure if a direct connection exists between "trashing the Volt" and "damage to American employment." That said, Lutz's choice of words should not distract from the otherwise obvious and straightforward spirit of his argument.
It's one thing to be bearish about a company. I'm bearish about GM as well as
. But it's another thing to allow that bear case to spin out of control.
For example, political pettiness fuels a considerable chunk of the incessant
Dear politically motivated Volt and Tesla bears: From personal experience, here's a nickel's worth of free advice: Get over yourself.
There was a time when I hated America. I had moved to San Francisco, where I quickly transformed into what
might label "extreme left wing." I've never had an issue with being liberal -- I still am, particularly on social issues -- but I do wish I had handled myself better politically in those days.
Simply put, I allowed myself to fit into a neat little box: I live in San Francisco and I am liberal, therefore these are the things I think. That's how half of the population carries itself in San Francisco and Berkeley. Think freely, but just limit your thoughts and convictions to the stuff that fits a pre-conceived agenda.
Lutz proves that you can step away from your party and ideology and do what you think is right. He deserves tremendous credit for this.
As Lutz argued, the Chevy Volt, if it succeeds, is good for America. Can conservatives really say with a straight face that the proliferation of electric vehicles will irreparably damage the country? If they believe this, they're delusional.
And beyond politics, Tesla bears consider the stock overvalued. The same goes for
. The most ardent bears fear that triple-digit P/E ratios will lead to the death of the nation, while undermining the purity they naively expect from the stock market.
I say that these bears are un-American. They hate freedom. And to top it off, they're not with us, they're against us (whomever "us" is). Plus, they jump on opinion bandwagons. They cannot think for themselves. They clearly didn't learn critical reasoning skills at their high schools.
How's that for a big Left Coast booyah?
But seriously, the things that make bears hate TSLA, AMZN and GM are good for America.
Tesla makes its cars in the San Francisco Bay Area. It exports them around the world. It builds EV components for other foreign car companies. Tesla does not run like an automaker; it looks and acts like a tech company. As it should. And it's innovation from companies like Tesla that gives America a fighting chance to compete with the rest of the world.
As Amazon continues to cut state sales-tax deals, it eases, albeit slightly, more than a few budget crunches and builds distribution centers in states across the country. In fact, Amazon could teach the government a thing or two about stimulating economies. Build infrastructure that creates jobs, focus on long-term prosperity and deliver returns that benefit the big picture.
Be bearish if you must. However, once that bearishness morphs into rooting for a company to fail, you need to get a grip and then get a life.
As far as being good for the country goes, there's nothing better than innovation and companies building products, delivering services and erecting infrastructure inside America's borders.
Don't allow politics to cloud your investing decisions or influence what you think is good for the country.
Stop using the P/E ratio as a measure of valuation. Stock market dinosaurs use the P/E for that purpose. Consider the metric a measure of confidence. Confidence that a business is not only growing rapidly, but forging ahead with viable plans to sustain that growth and capitalize on long-term opportunity.
As they sit on cash and issue misguided dividends and buybacks, too many growth companies lose sight of the one thing America is supposed to be about: opportunity.
At the time of publication, the author held no positions in any of the stocks mentioned in this article
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Rocco Pendola is a private investor with nearly 20 years experience in various forms of media, ranging from radio to print. His work has appeared in academic journals as well as dozens of online and offline publications. He uses his broad experience to help inform his coverage of the stock market, primarily in the technology, Internet and new media spaces. He has taken a long-term approach to investing, focusing on dividend-paying stocks, since he opened his first account as a teenager. Pendola, 37, is based in Santa Monica, Calif., where he lives with his wife and child.