Jun 24, 2005 12:48:15 AM
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JP66
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Board: Porsche - 911 - 997
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If she does then convince her with the several ideas posted here.
Then if you can afford it, buy it... 
Re: convincing the wife
Quote:
tooner said:Quote:
MMD said:
I have a strict rule: never buy luxury items on credit. So if you can't pay cash for this car, perhaps you shouldn't buy it.
MMD... you really got me thinking about this one...
Thank you I guess...
The P-car is a self-indulgence. Also a question of scale, you set things up so there's a certain amount you can p*ss away over a given period of time.
I write a $90K check I get the car deal is done. I don't owe anything and the $90K isn't at risk somewhere else, where it can get tied up or someone else can come by and spend it for me, so to speak. So, basically no matter what happens I won't be burdened by making payments on a luxury car.
Now if the P-car had a chance of APPRECIATING, then it's a different story since "luxuries" are different from "investments."
Jun 24, 2005 3:38:27 AM
- Silver Bullet
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Re: convincing the wife
Quote:
Danny G said:
I was gonna say, 10-25% min ROI is very difficult to maintain. Obviously, real estate appreciation has been a major boon in the past few years but other than that I think you could have trouble achieving those kind of returns constantly.
I second that. Sustainability is the key that only a few have managed. It's alot like blackjack, where everyone has a few good runs, but the house always wins. The concept that you can have 10-25% ROI stems from good luck and not enough experience to have been burned.
A zero percent finance deal will ALWAYS be cheaper when purchased with cash. There's really no such thing as 0% financing. The cost of the financing is hidden in a higher price. Nothing is free. Lease or finance, you're paying someone a premium to drive your Porsche.
Forgive me, but I've got to be skeptical. Just a different style I suppose. If you've got the cash, it seems to me that there's nothing wrong with buying your Porsche outright. Nothing at all.
Would that attitude prevent winning some gambles? Sure, but it would also prevent losing some too.
Jun 24, 2005 5:35:40 AM
- SoCal Alan
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Re: convincing the wife
Quote:
MMD said:Quote:
tooner said:Quote:
MMD said:
I have a strict rule: never buy luxury items on credit. So if you can't pay cash for this car, perhaps you shouldn't buy it.
MMD... you really got me thinking about this one...
Thank you I guess...
Now if the P-car had a chance of APPRECIATING, then it's a different story since "luxuries" are different from "investments."
This is precisely why this post got me thinking...
Non-appreciating... Zero Returns... "Spoils" that I can do without... I should buy in cash and if I cant have it right there and then... I'll wait a while.
Jun 24, 2005 7:06:41 AM
- tooner
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Re: convincing the wife
You guys got it all wrong. The trick is to let your wife be the sports car crazy one in the family and buy the Porsche. That way, you get to look at the car every day before she drives it off to work and have no financial worries. 
But seriously, my husband just recommended to book her a Porsche driving experience event in a loaner car.
But seriously, my husband just recommended to book her a Porsche driving experience event in a loaner car.
Jun 24, 2005 11:20:59 AM
- Holminator
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Re: convincing the wife
Quote:
Ente said:
You guys got it all wrong. The trick is to let your wife be the sports car crazy one in the family and buy the Porsche. That way, you get to look at the car every day before she drives it off to work and have no financial worries.
But seriously, my husband just recommended to book her a Porsche driving experience event in a loaner car.
Wicked smart!
Jun 24, 2005 3:58:41 PM
- STRADALE
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Re: convincing the wife
Quote:
Danny G said:
I was gonna say, 10-25% min ROI is very difficult to maintain. Obviously, real estate appreciation has been a major boon in the past few years but other than that I think you could have trouble achieving those kind of returns constantly.
I don't sell property often. Since becoming a Stock Broker in 1990 the only negative year I had was 2001. 2002 I went short for a 20% return. Last 15 year return average is 49%. With some years over 175%.
Re: convincing the wife
Quote:
MMD said:Quote:
tooner said:Quote:
MMD said:
I have a strict rule: never buy luxury items on credit. So if you can't pay cash for this car, perhaps you shouldn't buy it.
MMD... you really got me thinking about this one...
Thank you I guess...
The P-car is a self-indulgence. Also a question of scale, you set things up so there's a certain amount you can p*ss away over a given period of time.
I write a $90K check I get the car deal is done. I don't owe anything and the $90K isn't at risk somewhere else, where it can get tied up or someone else can come by and spend it for me, so to speak. So, basically no matter what happens I won't be burdened by making payments on a luxury car.
Now if the P-car had a chance of APPRECIATING, then it's a different story since "luxuries" are different from "investments."
You have the whole thing BACKWARDS. APPRECIATING assets are where you should be paying 100% so you can get the most return. Depreciating assets like a Porsche is where you should make payments to a bank that owns the car. Worry about the depreciation in a few years and by then the $90 you invested elsewhere would have appreciated enough to MAKE you money. Instead of costing you.
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Re: convincing the wife
Quote:
STRADALE said:
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Depend on where you draw the line, right? Somewhere it starts to sound like gambling, "Maybe I should start to finance groceries because I can double my money at the track?"
Re: convincing the wife
Quote:
MMD said:Quote:
STRADALE said:
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Depend on where you draw the line, right? Somewhere it starts to sound like gambling, "Maybe I should start to finance groceries because I can double my money at the track?"
LOL! Ahhh, come on. Okay, whatever. You're just not getting it. If you're not familiar with the stock market or even more conservative funds or bonds I guess it could sound scary like "gambling" and putting the money under a mattress or into a Porsche appears to make sense.
I'm 38 years old and I'm doing pretty okay my way. Whatever, works for you great. I guess you wouldn't use a tax shelter like a 401k locking in approx. 15-30% tax savings because of Enron right ?
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
Re: convincing the wife
Quote:
STRADALE said:
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. .
LOL! You guessed my situation completely wrongly; God bless you. Lemme put it this way, it's not worth the effort to finance this car; easier (and most likely cheaper in the end) to write a check. Not every dime I have has to be dealt with maximally. Like I said above, you can finance your groceries and use the cash to gamble and hopefully double it, or you can just spend the money on the GD groceries. Where do you draw the line? I choose not to borrow money for this fancy self-indulgent car.
Re: convincing the wife
Quote:
STRADALE said:
Since becoming a Stock Broker in 1990 the only negative year I had was 2001. 2002 I went short for a 20% return. Last 15 year return average is 49%. With some years over 175%.
Why aren't you more famous than Warren Buffett? As of July 2004, Berkshire Hathaway shareholders had enjoyed a 16.1% average annual return over the previous 10 years, easily beating the S&P 500's ($INX) 9% or so annual return over the same period. But that 16% figure was no match for the blistering 31.7% average annual return that Berkshire racked up in the prior 10 years (July 1984 to July 1994). So while recent Berkshire Hathaway's returns are still impressive, they are not keeping up with the earlier pace.
But your numbers make Warren's numbers pale by comparison.
Do you have any hot tips at the moment???
Phil
Re: convincing the wife
Quote:
STRADALE said:Quote:
MMD said:Quote:
STRADALE said:
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Depend on where you draw the line, right? Somewhere it starts to sound like gambling, "Maybe I should start to finance groceries because I can double my money at the track?"
LOL! Ahhh, come on. Okay, whatever. You're just not getting it. If you're not familiar with the stock market or even more conservative funds or bonds I guess it could sound scary like "gambling" and putting the money under a mattress or into a Porsche appears to make sense.
I'm 38 years old and I'm doing pretty okay my way. Whatever, works for you great. I guess you wouldn't use a tax shelter like a 401k locking in approx. 15-30% tax savings because of Enron right ?
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
Do you swing trade pink sheets at all STRADLE and whats your take on diluted SIRI..
throt.
Re: convincing the wife
Quote:
STRADALE said:
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
I'm not too embarrassed to ask. I really want to hear the story of 20% annual return for the past 15 yrs.
Re: convincing the wife
Quote:
iia said:Quote:
STRADALE said:
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
I'm not too embarrassed to ask. I really want to hear the story of 20% annual return for the past 15 yrs.
Actually he said 49%. Here is what he said:
"Since becoming a Stock Broker in 1990 the only negative year I had was 2001. 2002 I went short for a 20% return. Last 15 year return average is 49%. With some years over 175%."
Phil
Re: convincing the wife
fair play to the guy... clearly he's quite good and has some evidence to prove it (the cars, wow!)
the thing with buffet is the amount of capital he's been able to generate those returns on...
...and getting back to the subject, my girlfriend was dead set against me getting a fast car, said she would leave me!!
so i got the car... now i can't get rid of her!!!
the thing with buffet is the amount of capital he's been able to generate those returns on...
...and getting back to the subject, my girlfriend was dead set against me getting a fast car, said she would leave me!!
so i got the car... now i can't get rid of her!!!
Re: convincing the wife
Quote:
PS CA said:Quote:
STRADALE said:
Since becoming a Stock Broker in 1990 the only negative year I had was 2001. 2002 I went short for a 20% return. Last 15 year return average is 49%. With some years over 175%.
Why aren't you more famous than Warren Buffett? As of July 2004, Berkshire Hathaway shareholders had enjoyed a 16.1% average annual return over the previous 10 years, easily beating the S&P 500's ($INX) 9% or so annual return over the same period. But that 16% figure was no match for the blistering 31.7% average annual return that Berkshire racked up in the prior 10 years (July 1984 to July 1994). So while recent Berkshire Hathaway's returns are still impressive, they are not keeping up with the earlier pace.
But your numbers make Warren's numbers pale by comparison.
Do you have any hot tips at the moment???
Phil
I believe those returns are for Berkshire Hathaway stock, not Warren Buffett's. Since approx. 1990 Hathaway stock is up over 1000% but that's nothing compared to stocks like Harley Davidson etc. which are up over 10,000% (accounting for splits): blue line/red is naz.:
http://finance.yahoo.com/q/bc?t=my&s=HDI&l=on&z=l&q=l&c=&c=%5EIXIC
Calculate what $500 in stock is worth purchased in 1990.
I don't like to give out tips anymore. People are funny. You can never make them enough money and it's always the one that does badly that they remember not the other 5. It's one of the reasons I left the business and only trade for myself nowadays.
Re: convincing the wife
Quote:
throt said:Quote:
STRADALE said:Quote:
MMD said:Quote:
STRADALE said:
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Depend on where you draw the line, right? Somewhere it starts to sound like gambling, "Maybe I should start to finance groceries because I can double my money at the track?"
LOL! Ahhh, come on. Okay, whatever. You're just not getting it. If you're not familiar with the stock market or even more conservative funds or bonds I guess it could sound scary like "gambling" and putting the money under a mattress or into a Porsche appears to make sense.
I'm 38 years old and I'm doing pretty okay my way. Whatever, works for you great. I guess you wouldn't use a tax shelter like a 401k locking in approx. 15-30% tax savings because of Enron right ?
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
Do you swing trade pink sheets at all STRADLE and whats your take on diluted SIRI..
throt.
Haven't played a pink sheet stock in 15 years. Don't usually play OTC (Bulletin Board) stocks but did Buy and sell LENF.OB in Jan. And NMKT.OB last year.
I sold 50% of the SIRI I bought at $3.05 at $8. Holding the other half. Outstanding shares/Float is a killer but it was worth a buy at $3. News today is decent.
Re: convincing the wife
Quote:
STRADALE said:Quote:
throt said:Quote:
STRADALE said:Quote:
MMD said:Quote:
STRADALE said:
" I don't owe anything and the $90K isn't at risk somewhere else"
The $90k isn't somewhere else MAKING YOU MONEY either.
Depend on where you draw the line, right? Somewhere it starts to sound like gambling, "Maybe I should start to finance groceries because I can double my money at the track?"
LOL! Ahhh, come on. Okay, whatever. You're just not getting it. If you're not familiar with the stock market or even more conservative funds or bonds I guess it could sound scary like "gambling" and putting the money under a mattress or into a Porsche appears to make sense.
I'm 38 years old and I'm doing pretty okay my way. Whatever, works for you great. I guess you wouldn't use a tax shelter like a 401k locking in approx. 15-30% tax savings because of Enron right ?
I've helped a lot of young guys who really don't know the first thing about how to manage money correctly. If you're just too embarrassed to ask - pm me. Otherwise this is too OT for this thread.
Do you swing trade pink sheets at all STRADLE and whats your take on diluted SIRI..
throt.
Haven't played a pink sheet stock in 15 years. Don't usually play OTC (Bulletin Board) stocks but did Buy and sell LENF.OB in Jan. And NMKT.OB last year.
I sold 50% of the SIRI I bought at $3.05 at $8. Holding the other half. Outstanding shares/Float is a killer but it was worth a buy at $3. News today is decent.
Good timing on the HS news , nice one , and yes $6.35 when I last looked think its a bit ot but I will hop on it at lower prices..OMOG was a good play what 12 months back if I remember correctly..Anyways good luck ..
throt..
Re: convincing the wife
Quote:
STRADALE said:
Since approx. 1990 Hathaway stock is up over 1000% but that's nothing compared to stocks like Harley Davidson etc. which are up over 10,000% (accounting for splits): blue line/red is naz.:
http://finance.yahoo.com/q/bc?t=my&s=HDI&l=on&z=l&q=l&c=&c=%5EIXIC
Calculate what $500 in stock is worth purchased in 1990.
Using a 10,000% increase like your Harley example the $500 original purchase of Harley stock would be worth $50,500 today. But if one were to have earned the 49% per year average return you mentioned, the original $500 investment would be up to almost $200,000 (over 15 years). Beats the heck out of that lousy Harley stock.
Phil
Re: convincing the wife
Phil,
I don't know if you remember when IPO's were the hottest thing going. Back in the early 90's I brought quite a few companies public. 1995 TO 2000 were good to quite a few people but 90-94 is where I got started. Hey! don't knock my Harley stock, it's been berry, berry good to me. (except for the last couple of months anyway) LOL !
btw: If I would have paid for my 1990 HD Softail in full instead of investing in some Harley's stock I don't even want to mention how much it would have cost me. You can guess.
Let's get off this subject and talk about cars.
I don't know if you remember when IPO's were the hottest thing going. Back in the early 90's I brought quite a few companies public. 1995 TO 2000 were good to quite a few people but 90-94 is where I got started. Hey! don't knock my Harley stock, it's been berry, berry good to me. (except for the last couple of months anyway) LOL !
btw: If I would have paid for my 1990 HD Softail in full instead of investing in some Harley's stock I don't even want to mention how much it would have cost me. You can guess.
Let's get off this subject and talk about cars.
Re: convincing the wife
Quote:
STRADALE said:
Phil,
Let's get off this subject and talk about cars.
yeah, what he said!
We all gotta remember that we're typing away more or less articulately, in a conversational manner and not getting alot of the subtle meanings given by body langauge and inflection. So "arguing" or "debating" abstract and COMPLEX issues is really tough in this context.
We should stick to the facts and figures and Humble-to-outrageous opinions on cars!
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