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rffrydr
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 Posted: Mon Apr 23, 2012 5:49 pm Post subject: |
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Tiffany's gets 5.3% investment from Quatari SWF....they know of what they invest.
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rffrydr
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| Posted: Mon Apr 23, 2012 10:13 am Post subject: |
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Carlos was one of those picking up his on the secondary, but even for first owners there's a new "frugality" in mega-yachts:
http://www.economist.com/node/21546065
| Quote: | Quite sensibly, Mr Abramovich has hung on to his other superyachts. On the brokerage market (second-hand, to land-lubbers) prices are disappointing. That second yacht is the first thing a troubled tycoon sells. Global gloom means there is a vast fleet of used superyachts for sale. Falling demand for new boats means that shipyards are desperate for business.
Maintaining a superyacht is not cheap. Most need a hefty crew (the Eclipse needs 75 pairs of hands). Add in fuel, berthing and the like and the tab can hit millions a year for a craft you use for only two weeks. In the boom years, emotion often trumped good sense. Captains and yacht managers spent the owner’s money on supplies, upgrades and repairs so freely that the practice spawned an acronym, SPAM: “spending Paul Allen’s money” (the Microsoft co-founder owns some fairly lavish boats). |
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rffrydr
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rffrydr
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| Posted: Thu Feb 16, 2012 6:49 pm Post subject: |
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I'm going with this guy's first instinct:
| Quote: |
High-End Retail Buckling?
By Brian Sozzi | Feb 16, 2012 | 4:41 PM EST
Seeing cracks in the armor of the high-end retail long thesis. Tiffany
& Co. warning couple weeks ago followed up by Blue Nile. Nordstrom
below consensus guidance. Pockets of sales weakness at Polo and
Coach. What I am pondering is if this is a tourist slowdown thing,
middle income consumers taking a trade up breather, or something
deeper with true high-end consumers (which you wouldn't think given
stock price appreciation). |
As Buffett says, every investment is a currency trade--and this was a big one.
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rffrydr
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| Posted: Wed Feb 01, 2012 10:14 am Post subject: |
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http://video.cnbc.com/gallery/?video=3000070407 
"The rich are different than you and me. They buy stuff for the snow even when it isn't snowing!"
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rffrydr
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| Posted: Thu Jan 19, 2012 8:41 pm Post subject: |
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Okay...so we don't want to eat the rich....but maybe a few should perish before we talk ourselves up:
http://www.economist.com/node/21542389
| Quote: | | The rise of banking has often been accompanied by a flowering of civilisation. Artists and academics railing against the “agents of the Apocalypse” might also learn from history. Great financial centres have often been great artistic centres—from Florence in the Renaissance to Amsterdam in the 17th century to London and New York today. Countries that have chased away the moneylenders have been artistic deserts. Where would New York’s SoHo be without Wall Street? Or the great American universities without the flow of gold into their coffers? |
R.I.P. Adolf Merckle
http://www.spiegel.de/international/germany/0,1518,599814,00.html
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rffrydr
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| Posted: Wed Jan 18, 2012 3:17 pm Post subject: |
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Bentley sales back to '07 levels 
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rffrydr
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rffrydr
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| Posted: Tue Nov 29, 2011 9:03 am Post subject: |
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TIF finally takes a hit. We may getting what we wrongly assumed with this "asset class" in '08. Still, I dare not short the all-mighty "luxury space."
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rffrydr
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rffrydr
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rffrydr
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rffrydr
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| Posted: Mon Sep 26, 2011 7:21 am Post subject: |
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The light made a little less bright by the fact that we're bringing 'em all down with us.
This is why though my feelings toward gold tend towards frankincense and myrrh, I have at no point been willing to sell it short--or bonds.
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diesel
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| Posted: Sun Sep 25, 2011 3:10 pm Post subject: |
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I would say its more about 15%+ unemployment than anything at this stage; the opportunities just aren't there for the majority of the youth at the moment. The US is in decline but the burn is slow.....
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rffrydr
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| Posted: Sun Sep 25, 2011 8:10 am Post subject: |
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No class-war on Wall St.:
| Quote: | | Last week brought a disheartening coupling of statistics further delineating the city’s economic divide: The Forbes 400 list of wealthiest Americans, which included more than 50 New Yorkers whose combined net worth totaled $211 billion, arrived at the same moment as census data showing that the percentage of the city’s population living in poverty had risen to 20.1 percent. And yet the revolution did not appear to be brewing. |
| Quote: | | One day, a trader on the floor of the New York Stock Exchange, Adam Sarzen, a decade or so older than many of the protesters, came to Zuccotti Park seemingly just to shake his head. “Look at these kids, sitting here with their Apple computers,” he said. “Apple, one of the biggest monopolies in the world. It trades at $400 a share. Do they even know that?” |
http://www.nytimes.com/2011/09/25/nyregion/protesters-are-gunning-for-wall-street-with-faulty-aim.html?_r=1&hp
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