Please help. What to do. Regret!
10-22-2021, 09:56 PM
#31
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Of course and given that Apple is now at...$148.69 or any other A+ company (Tesla or Google or FB...) you'd have to have a huge investment or bought at IPO years ago to make enough to buy your ride. I will side with you that not "research" or tricks but investment bought me my ride.
TOWMBO laid down the rules: I could buy any car I wanted as long as it didn't cost us any money. This was maybe 4 years ago and I had heard that Ferrari was going to issue an IPO. So I called a high school buddy who's a hedge fund manager in London and asked him "should I invest in Ferrari?". He said absolutely not; no growth in it. They make 10,000 or so cars a year because they could sell 20 times that but they won't dilute their brand. So while you won't loose any money you won't make any either as where is the growth going to come from?? Hmm I thought he has a point, after all he's a PROFESSIONAL in his field with billions under management. But when it comes to Ferrari, logic goes out of the window as who would logically buy a Ferrari? Impractical, expensive and you can't tow anything with it to go fishing. BUT...
the heart wants what the heart wants and so I invested my savings and bought shortly after IPO and sold (TOWMBO said I shouldn't be greedy...) at $201 and change November or so of last year; it closed around $230 around Xmas. You must have bought Apple a while back to make that kind of profit. The rest was just deciding what options I couldn't live without.
It took 3 years and it was luck, not research; research is for engineering not for black swan hunters and the folks in Billions. It could have easily gone the other way and I only put in what I could live without if it went down the drain. But it was my savings and a passion for certain cars (Porsche, Ferrari etc.) since I was a little boy growing up (much to my parents' dismay) across from a garage where I spent most of my time. So you're right it's investing right but it was the fruit, as no doubt everyone else here, of their savings and hard work.
Good point though
siberian
TOWMBO laid down the rules: I could buy any car I wanted as long as it didn't cost us any money. This was maybe 4 years ago and I had heard that Ferrari was going to issue an IPO. So I called a high school buddy who's a hedge fund manager in London and asked him "should I invest in Ferrari?". He said absolutely not; no growth in it. They make 10,000 or so cars a year because they could sell 20 times that but they won't dilute their brand. So while you won't loose any money you won't make any either as where is the growth going to come from?? Hmm I thought he has a point, after all he's a PROFESSIONAL in his field with billions under management. But when it comes to Ferrari, logic goes out of the window as who would logically buy a Ferrari? Impractical, expensive and you can't tow anything with it to go fishing. BUT...
the heart wants what the heart wants and so I invested my savings and bought shortly after IPO and sold (TOWMBO said I shouldn't be greedy...) at $201 and change November or so of last year; it closed around $230 around Xmas. You must have bought Apple a while back to make that kind of profit. The rest was just deciding what options I couldn't live without.
It took 3 years and it was luck, not research; research is for engineering not for black swan hunters and the folks in Billions. It could have easily gone the other way and I only put in what I could live without if it went down the drain. But it was my savings and a passion for certain cars (Porsche, Ferrari etc.) since I was a little boy growing up (much to my parents' dismay) across from a garage where I spent most of my time. So you're right it's investing right but it was the fruit, as no doubt everyone else here, of their savings and hard work.
Good point though
siberian
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10-22-2021, 10:00 PM
#32
Well, allegedly VW is working on an IPO for Porsche, so...
10-22-2021, 10:02 PM
#33
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Yep, watching that like a hawk. 
siberian
siberian
10-22-2021, 10:34 PM
#34
Had a Taycan 4S as a loaner for two days while my 992 was in for service. Great loaner, but loved getting my C2S back afterward. See if you can get an allocation for another 992. I’m confident that you can swing the difference in price. The average 911 buyer makes $600k a year. Eat the $5k-$10k and deal with it. As Worm said, it’s only money.
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10-22-2021, 10:38 PM
#35
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Neither am I but wealth is abstract, unless you're willing to sell the house you live in or the vase from Aunt Harriet dating back to the 1800s, wealth is an appraisal. Until you find a buyer it's what it is, a number. Cash is what buys a Porsche not what your house is estimated to be worth or whatever unless you borrow against it.
siberian
siberian
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10-22-2021, 10:45 PM
#36
But…it’s a free country and as long as you pay your bills and take care of your family - what do I care how people spend their money?
No, it’s not a great financial move if one is forced to save money in order to buy these things, but I can’t fault someone for striving to make their dream happen.
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10-23-2021, 12:07 AM
#38
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Edited out so no “chest pumping”
Last edited by drcollie; 10-23-2021 at 01:09 AM.
10-23-2021, 12:32 AM
#39
Can we get back to the original thread intent instead of chest pumping lol?
private sale of the taycan in an area where dealerships have low inventory might net you more money. I would see if you could do a trade in for the next 992. Sorry that the unfortunate circumstance happened to you!
private sale of the taycan in an area where dealerships have low inventory might net you more money. I would see if you could do a trade in for the next 992. Sorry that the unfortunate circumstance happened to you!
Last edited by 992brian; 10-23-2021 at 12:34 AM.
10-23-2021, 02:24 AM
#40
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Excellent point.
siberian
siberian
10-23-2021, 03:45 AM
#41
Sorry that the unfortunate circumstance happened to you![/QUOTE]
Thanks. It is not the end of the world ofcourse. It is just a car but it hurts.
I’ll visit the dealer today and ask them if there are options.
Thanks. It is not the end of the world ofcourse. It is just a car but it hurts.
I’ll visit the dealer today and ask them if there are options.
10-23-2021, 07:50 AM
#42
If you're in the position to buy these cars in the first place, you've had more wins than losses. I'd take some consolation in that.
10-23-2021, 10:05 AM
#43
Three Wheelin'
I guess it is a matter of definition. When I consider my “savings”, I don’t limit that to cash in the bank. I look at it holistically with a view to all my saved assets including house, real estate, investments, 401K, pension - all of it.
And I actually do use savings - even in your definition to buy my cars. I have a separate account where I stash expense reimbursements and other funds that flow in sporadically until I have enough to get the car I want. I know cash is fungible, but I am good a tricking myself and feel better about it if I feel like I am not spending my “savings” on a $150K+ car.
10-23-2021, 09:27 PM
#44
Three Wheelin'
Hey guys, put away your torches and pitchforks. I don’t make that kind of scratch either. Just regurgitating what I read some place. Just because there is an average or median, doesn’t mean there isn’t deviation from the mean, both positive and negative. Ever heard of a bell curve?
10-23-2021, 09:34 PM
#45
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My take would be:
1) Don't believe everything you read
and
2) Statistics can be made to say anything.
But you sure got folks' attention
siberian
1) Don't believe everything you read
and
2) Statistics can be made to say anything.
But you sure got folks' attention
siberian
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