To the Editor: Elon Musk is the Essential Man (" SpaceX Is Going Public. Why a Tesla Merger Could Be Musk's Real Endgame," Cover Story, April 10). Without him, the multiples for his companies would shrink to industry levels. Warren Buffett can be replaced, but not Musk.

Jerry Baustian On Barrons.com

OpenClaw Bites

To the Editor: Can you imagine an investor population in which everyone wins by the same magnitude? (" This AI Agent Will Suggest Trades for You -- and Make Them. Do You Dare to Try It?" Up & Down Wall Street, April 10). It would cause a market revolution where artificial intelligence is deciding the winners rather than the companies themselves. A risky start-up with exciting qualitative data but risky quant data may never have a chance as AI deems it too risky for society and too risky for investors. We must at this point ask, who is in control? Think of iRobot. It appears that the intent was always good, but the methods and end result were terrible.

AI replacing hard work and wisdom (learning from time and experience) is counter to human functionality and development. AI has a place, but it seems like too many people are attempting to inject it into everything, which will slowly start to remove "humanness" as everyone turns to AI for everything.

R. Ragland On Barrons.com

Fool Me Once...

To the Editor: Randall W. Forsyth warns that holders of U.S. debt as well as Social Security recipients may suffer as the national debt soars out of control under the weight of the ballooning needs of the Department of Defense (" The Deficit Is Exploding. Some Radical Steps to Rein It In," The Economy, April 10). This is a major reason I began to take my Social Security benefits 14 years ago at age 62 against the advice of virtually every financial guru. I had observed firsthand how the government can renege on promises, as the Tax Reform Act of 1986 eviscerated the tax benefits it had previously afforded investors in Section 8-assisted real estate shelters. Fool me once...

Bill Gottdenker Mountainside, N.J.

Costco Over Walmart

To the Editor: I concur with Neuberger Berman's John San Marco that Walmart and Costco Wholesale deserve premium price/earnings ratios, but Costco's culture is far superior to Walmart's (" Costco and Walmart Deserve Their Rich Valuations, This Analyst Says," Interview, April 9). While Walmart is the retail behemoth, its checkered operational past gives me pause as an investor. Costco's high standards speak volumes, and that translates to customers and investors being rewarded from every aspect of its business.

Joel Goodman Centennial, Colo.

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April 17, 2026 17:52 ET (21:52 GMT)

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