Partner wants to buy a Super Car worth 150k

[fatlittlepig]

A guy at work has been talking about getting a Rolex.  He’s already admired mine for a while. LOL

[abds]

fatlittlepig wrote:

Yawn…

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...says the guy with a fake Rolex hahaha.

[fatlittlepig]

Yawn...

[EntrepreneurMD]

Wait a year or two, accumulate some cash, let the 720S depreciate and consider one of those?

I was considering this car or Aventador recently, until I blew a couple of mil on office building.

I'm good with my more modest ride in this post...for now.

[abds]

I Find This Humerus wrote:

abds wrote:

I’m a little bit of a car guy so I’m curious what car he wants. And I didn’t want to read 15 pages to find it.

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570S

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Yes. Tell him to buy it. If I ever get an obnoxious supercar it'll be a Mclaren (over Lamborghini or Ferrari at least), although I'm a little worried about reliability after the mp4-12c issues, so maybe I'll just get a mid-engine ZR1 instead.

[I Find This Humerus]

abds wrote:

I’m a little bit of a car guy so I’m curious what car he wants. And I didn’t want to read 15 pages to find it.

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570S

[EntrepreneurMD]

Okay but FLP was very specific here about his definition of a supercar.

[abds]

I’m a little bit of a car guy so I’m curious what car he wants. And I didn’t want to read 15 pages to find it.

[I Find This Humerus]

childay wrote:

abds wrote:

Has anywhere in the last 15 pages clarified what exactly the “supercar” is? As in make and model? 

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Certainly not.  That would require another 15 pages of posts at least..

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Why does that matter?

[childay]

abds wrote:

Has anywhere in the last 15 pages clarified what exactly the “supercar” is? As in make and model?

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Certainly not.  That would require another 15 pages of posts at least..

[abds]

Anyone at the prime of their accumulation years who hasn’t gotten rich in the last 10 years is doing something seriously wrong. It’s not skill, it’s being alive at the right time.

Has anywhere in the last 15 pages clarified what exactly the “supercar” is? As in make and model?

[Lordosis]

What a mummer's farce.

[EntrepreneurMD]

Tim wrote:

Sorry. With the lack of a specific plan of investment plan that specifies the criteria for entry and exit that is disciplined and can be backtested, there is not much other than trust. Trust but verify seems a reasonable way to manage one’s finances. Mutual fund managers have been around for a long time. Finding those select performers is going to be interesting. To be honest, way too much narrative without enough facts that can be verified or tested. Not an insult, just taking a pass.

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Absolutely correct. That's why it doesn't do anyone any favors to be given the names or for them to even find them online without a fundamental understanding of how to do this - and that takes years to master.

What I include in my "a dozen other factors" statement (in my last post here) are the entry and exit strategy you speak of which are obviously critical. Then you get accusations of market timing from the dollar cost averaging crowd. No need for that conversation again.

I'm glad you're taking a pass, most should. Indexing is fine for most. I'm a seller with each new market high at this point. As Panscan noted, no need to risk on at this stage of the bull (exit strategy). I don't need trust or verification, I need to repeat my fortunes after the next major recession (entry strategy). Already started? Maybe, maybe not. Treasury yields have inverted. Discipline to deploy that outsized emergency fund when risk is lowest and reward is greatest. Can a different strategy give a better chance at upward mobility? - provoking some thought. Maybe, maybe not. I'm always questioning myself but so far it's been working out.

Most should pass on the supercar too, given it's not their passion. But not appropriate to call those of us dumb for having that passion (not directed at you). To keep with that theme, you'll pass on sector investing, I'll pass on index investing. No one is dumb. No need for either to prove anything, but just continue the prosperity as proof for ourselves.

[Tim]

a) "claiming the profits were the result of his own unique "split-strike conversion strategy"."

b) Day Trading Academy

c) DraftKing and FanDuel

d) Home Flipping

Each has documentation of the fantastic returns, account statements, fancy cars and money in the bank to "prove it". Actually, some even have "unpaid testimonials" from some very very astute and famous people.

There are many many ways to make money pretty easily.



a) Bernie Madoff, take your choice.

[MPMD]

q-school wrote:

this isn’t directed at entrepreneurMD to be clear.

i completely understand why people would want to keep things private, and would not post a picture of my car here.

what is curious to me is when people say i have a mutual fund that has returned x% for the past y years.  why is that important to keep secret?  once you are in, isn’t the goal for more people to buy shares and drive up your own profit?  is there something proprietary about the selection process that might be revealed?   if more people buy, does it somehow hurt your ownership?   i have seen this a few times here, and it always struck me as curious.

thanks!

 

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it's the same reason that Dave Ramsey won't give examples of his "not that hard to find" funds that return >10% year after year.