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Hopefully they invest their money and don't blow it on Ferraris and avocado toast.
by bluedino 5y ago
Hopefully they invest their money and don't blow it on Ferraris and avocado toast.
- beamatronic 5y agoTheir money goes into GME and crypto
- floren 5y agoJeez, at least avocados are tasty...
- authed 5y agobetter investment then a Ferrari
- bbreier 5y agodepends on the Ferrari tbh
- munk-a 5y agoI can't tell if you're being sarcastic but cars are the definition of an absolutely terrible investment - they might beat out randomly hoping you'll land big on r/wallstreetbets but both are extremely poor investment decisions.
- short_sells_poo 5y agoOrdinary cars are a strongly depreciating asset. However, above a certain level this stops being true. I had the fortune to buy, use and subsequently sell a number of higher end cars (Ferrari, Lamborghini) and I made little to no loss on any of them. In fact, the Ferrari 458, which to this day I consider the best supercar to drive, appreciated during the year or so I had it.
- munk-a 5y agoIt sounds like the cars might have slightly more than broken even on cost for you which sounds like a terrible investment option when you've got everything from real estate to mutual funds that will generally outperform cars - and, much like stock picking, most of the models you purchased didn't significantly appreciate - just one ended up gaining in value. I suppose I was misinformed in that I thought that cars of all value ranges were pretty disastrous assets to hold - but it sounds like holding on to them for value appreciation still isn't a particularly good tactic.
- jakear 5y agoWhen you have enough cash on hand to buy one, chances are you already have investments in money-returning assets, and you're diversifying into entertainment-returning ones. No point making a bunch of money just to spend it all on making more money. If you can tie up a bundle of cash for a year, get a bunch of entertainment out of it, then liquidate for approximately the same amount, who is to complain?
- kinggfx1 5y agoI can't drive my Berkshire Hathaway shares around at 160 mph
- deleted 5y ago[deleted]
- verve_rat 5y agoI'm assuming they were making a comment about the value of classic cars. Some of them could absolutely be a good investment, if, (big, giant, planet sized) if you know what you are doing.