Yale's top investor belongs on ER Forums - Page 3

megacorp-firee · 02-23-2008, 08:04 AM

Quote:

Originally Posted by Want2retire

Good point. But even if someone can afford a luxury car, why would they want the hassle of having it in the shop all the time?

Maybe they have nothing else to do with their time, or maybe their servants take the car in. They live such a different sort of life from my own.

I think that the stereotypical BMmer and Mercedes being in the shop ALL the time is a bit extreme. It could be Jeeves taking it in, but more than likely they drop it off on the way to work and just pick up the complementary loaner. In any case, IMO we on this board display a bit of 'penis envy' (I know I am opening up myself on that one to you

) when it comes to others spending on things we may think wasteful.

**Want2retire** · 02-23-2008, 08:33 AM

Quote:

Originally Posted by megacorp-firee

I think that the stereotypical BMmer and Mercedes being in the shop ALL the time is a bit extreme. It could be Jeeves taking it in, but more than likely they drop it off on the way to work and just pick up the complementary loaner. In any case, IMO we on this board display a bit of 'penis envy' (I know I am opening up myself on that one to you

) when it comes to others spending on things we may think wasteful.

I won't touch THAT one with a ten foot pole.

(As in, that's the last thing I would envy? "I enjoy being a girl" as the song goes.

)

I had mused about whether or not I wanted a luxury car like that when I got the first distribution from my inheritance recently. But then, I realized that to me, having a working, ordinary car in my driveway is preferable to having a luxury car in the shop, or worse, by the side of the road. But you make a good point - - the psychology of this does affect one's outlook. Even though I don't especially envy their ability to buy a luxury car, maybe I am just not comfortable with spending that much right now.

FinanceDude · 02-23-2008, 09:09 AM

Quote:

Originally Posted by megacorp-firee

I think that the stereotypical BMmer and Mercedes being in the shop ALL the time is a bit extreme. It could be Jeeves taking it in, but more than likely they drop it off on the way to work and just pick up the complementary loaner. In any case, IMO we on this board display a bit of 'penis envy' (I know I am opening up myself on that one to you

) when it comes to others spending on things we may think wasteful.

This thread is falling fast.................

saluki9 · 02-23-2008, 09:40 PM

Quote:

Originally Posted by Want2retire

Good point. But even if someone can afford a luxury car, why would they want the hassle of having it in the shop all the time?

Maybe they have nothing else to do with their time, or maybe their servants take the car in. They live such a different sort of life from my own.

What makes you think that luxury cars are in the shop more than non luxury brands?

My purely anecdotal experience has shown my BMW to be just as (if not more) reliable than my wife's Honda. My extended family owns a fleet of BMWs and MBs without any major trouble among them.

haha · 02-23-2008, 09:47 PM

Quote:

Originally Posted by FinanceDude

That's not what he was saying..........he's saying he has tools that most of us can only dream about, and unheard access to fund managers and equity analysts.

Tools have their appeal, but the most important tool is between your ears. Warren Buffet claims he doesn't even use spreadsheets. He may even claim he doesn't use computers.

Ha

FinanceDude · 02-24-2008, 09:11 PM

Quote:

Originally Posted by haha

Tools have their appeal, but the most important tool is between your ears. Warren Buffet claims he doesn't even use spreadsheets. He may even claim he doesn't use computers.
Ha

True, but how many Warren Buffets are out there? I know only one........

saluki9 · 02-25-2008, 11:00 AM

Quote:

Originally Posted by FinanceDude

True, but how many Warren Buffets are out there? I know only one........

There is only one. But if I had to nominate a successor David Swenson would be at the top of my list.

megacorp-firee · 03-01-2008, 01:47 AM

Quote:

Originally Posted by saluki9

What makes you think that luxury cars are in the shop more than non luxury brands?

My purely anecdotal experience has shown my BMW to be just as (if not more) reliable than my wife's Honda. My extended family owns a fleet of BMWs and MBs without any major trouble among them.

Have you found that the cost of maintenance for the BMmer is much more than the Honda?

saluki9 · 03-01-2008, 02:34 PM

Quote:

Originally Posted by megacorp-firee

Have you found that the cost of maintenance for the BMmer is much more than the Honda?

Wouldn't know because BMW pays for all maintenance until 50K miles

I'm sure if I drove it to 100K which I probably am not that it would be more. But, the joy of driving has a price and I'm willing to pay it.

mickeyd · 03-01-2008, 02:59 PM

Quote:

Besides, I believe that fund managers effectively direct the markets,

Which fund manager(s) are going to beat the index funds over the next 20 years? I'm curious to know so that I can consider moving all of my Vanguard index fund investments to the funds that he (they?) manage.

HFWR · 03-02-2008, 09:05 AM

Quote:

Originally Posted by saluki9

Wouldn't know because BMW pays for all maintenance until 50K miles.

I would respectively submit that YOU are paying for ALL maintenance. Just not directly...

megacorp-firee · 03-02-2008, 10:37 AM

Quote:

Originally Posted by HFWR

I would respectively submit that YOU are paying for ALL maintenance. Just not directly...

Fries do come with the hot dog, but you willingly pay the price.

Gotadimple · 03-02-2008, 10:40 AM

Quote:

Originally Posted by HFWR

I would respectively submit that YOU are paying for ALL maintenance. Just not directly...

Yes, but how much more does one earn by pre-paying for services that are sure to rise over the period you own the car?

saluki9 · 03-02-2008, 01:49 PM

Quote:

Originally Posted by HFWR

I would respectively submit that YOU are paying for ALL maintenance. Just not directly...

it's a moot point. I simply don't care about the maintenance. I drove all of the cars in it's class and none of the other put a smile on my face when I drove them.

However, you are technically correct, I'm not as dumb as I look.

HFWR · 03-02-2008, 02:22 PM

Quote:

Originally Posted by saluki9

it's a moot point. I simply don't care about the maintenance. I drove all of the cars in it's class and none of the other put a smile on my face when I drove them.

However, you are technically correct, I'm not as dumb as I look.

Dang, hit a nerve or something? Just pointing out that seldom is anything "free"...

OTOH, if my vehicle starts, and the A/C works (this is Texas, after all), then I'm reasonably happy...

Spanky · 03-02-2008, 05:28 PM

Quote:

Originally Posted by CybrMike

seems kind of silly though.

"I can beat the market with all my fancy stock and manager picking, but no one else can so they should just invest in index funds."

David Swensen did not say that nor did he imply that. He simply says that most individual investors do not have the resources and time to pick market-beating managers and therefore should stick with index funds.

Spanky · 03-02-2008, 05:48 PM

Quote:

Originally Posted by saluki9

What makes you think that luxury cars are in the shop more than non luxury brands?

My purely anecdotal experience has shown my BMW to be just as (if not more) reliable than my wife's Honda. My extended family owns a fleet of BMWs and MBs without any major trouble among them.

You must be the lucky one. I cannot imagine the BMWs are as reliable as Honda's or Toyota's. The maintenance cost of a BMW should be a lot higher that of a Honda.

saluki9 · 03-02-2008, 08:21 PM

Quote:

Originally Posted by HFWR

Dang, hit a nerve or something? Just pointing out that seldom is anything "free"...

OTOH, if my vehicle starts, and the A/C works (this is Texas, after all), then I'm reasonably happy...

Not at all, quite the opposite in fact.

You were totally correct.

FinanceDude · 03-03-2008, 08:56 AM

03-03-2008, 08:56 AM	#59
FinanceDude Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Aug 2006 Posts: 7,703