Follow the Money By The Fly – Fri Sep 7, 2012 11:11pm
I don’t haggle for prices because gentlemen do not worry about money. If you have to ask how much something costs, then you shouldn’t be buying it. Truth be told, luxury goods in this country are in exceedingly high demand. I realize some of you live in 0hio where everyone is poor; but this is an incredibly rich country, with millions of millionaires.
Guys like me are a dime a dozen. I am an inch of dust compared to the guys with 400ft yachts with helicopter pads on them and ghost yachts tailing behind with toys, 30,000 square foot homes, employing over 100 people to manage the house.
What do you think these people are spending money on?
Understand these people are sick in the head. They are obsessed with consumption and feel incomplete unless they outdo their friends with new, expensive, toys. Having a Benz or a BMW is a joke. The new upper class are driving Bentleys and Phantoms.
Personally, I’d rather have my dick chopped off before I spend 350,000 on a ... car. To each his own, I suppose.
Paintings are fetching for $100 million plus at auction and anything Picasso is selling for high 8 figures, even his late/bullshit work.
This is being reflected in the shares of JWN, LULU, KORS, TIF, BID, ULTA, APPL, BC, SKS etc.
The funny ... is, the new upper class, guys like Zuckerberg and Thiel, dwarf the net worths of the old money, social registry, class. There is a lot of friction between old and new money, more so than ever before. Everyone is aspiring to be rich and most fake it until they make it, or not. I know so many people who make $500k per year who are flat broke. They spend all of their money because they make so much and endeavor to live life to the fullest. It is no surprise to me to see retail stocks leading the market higher.
In short, don’t get caught up in the big lie that is country is broke. That’s wrong. The government is broke, but the people are rich as ... Sure, there is an underclass and the divergence between well to do and dirt poor has never been wider. But that is not my concern, when trying to figure out asset prices.
If you follow the money closely and respect it, you will end up getting some of your own.
