Where's Your Head At?: I'm Calling You Out

[Posh]

Disclaimer: I don't make frankens, just wear very accurate reps.

The answer to your question is simple for me. I could buy a 5k gen every month and not notice. But, instead I could take a short position or buy into a security for the long run, or angel on a startup. If it tanks, i dont notice. If my return is exemplary then i do. There is absolutely no reason to spend money (which is the only way to really make money) on something that brings you temporary pleasure. The same applies to my automobile. Sure I could buy a brand new 997 or I could buy an 09 for a fraction of the price, freeing up capital to make more of itself.

If someone had decided to own 6 reps instead of 6 gens, 25k could have gone into high risk high reward dndn at 4 bucks and offloaded at 40 a couple months ago. That's 250k that will never go to a gen.

Uh huh. This is what I expected to hear, at least from the more well-heeled 'Geeks on the forum. But everyone's responses run the gamut. I personally can't imagine, and this may be because I work in financial services, why anyone would wish to tie up capital in any kind of luxury goods especially if you aren't a high net-worth individual, since so many many luxury goods are very expensive to own and maintain. If you do not have financial assets, not including your primary residence, exceeding seven figures, you do not need to be buying any luxury goods.

Bob, I like your moxie. LOL

[bobkat]

If you do not have financial assets, not including your primary residence, exceeding seven figures, you do not need to be buying any luxury goods.

Bob, I like your moxie. LOL

:-D. Completely agree with this. Complete waste of capital. Until its a fraction of a percent of total net worth it doesn't make sense. The only reason we buy luxury goods is because we like them. We like how it makes us feel. There is no logic. I know executives that walk into meetings where hundreds of millions of dollars of business takes place wearing a seiko quartz. A very successful attending I knew while I was training drove a Subaru impreza. The great thing about this hobby is that you can get the pleasure of the goods without the tie up of significant capital.