A newspaper report suggests that buying a new Range Rover is actually safer than keeping your money in the bank!

The London Evening Standard reports on an unfortunate American Banker who was recently moved to the London Office of his bank. First thing he did, understandably, was buy a new Range Rover, by selling some of his banking shares to finance it.

Now that the finance world has turned upside down he has been moved on to another office and had to sell the Rangie.

However even though he suffered a 50% depreciation hit in just 6 months the Rangie was still worth EIGHT TIMES more than the shares he originally sold to buy it.

So he lost LESS money buying the Range Rover.

The Standard further adds, though, that in Icelend, where there is a glut of recently offloaded Range Rovers, they are now being unkindly referred to as 'Game Overs'

Source: http://www.lro.com/news.php?sid=229&page=1

 Range Rover Vogue ‘17 TDV6

Gone: Range Rover Vogue '11 4.4TDV8, Range Rover Sport ‘59, Range Rover Sport ‘56

The same happened about to me 9 years ago during the dotcom boom when i lived in the UK, i sold some of my companies freebie shares and bought the wife a TD5 approximately 1 year old for 13K cash, plus 7K trade in on her TDI.

I sold it 4 years later for approximately 13K GBP to a certain James something in Oxfordshire.. The shares at the time had collapsed from $108 US dollars at their peak to exactly $1.50 (look up the highs and lows of Orange Business systems - nee Equant)

Therefore if i had kept the shares i would have lost something like 12,750 pounds in value vs the 7K trade in for the TDI which was basically wrote down anyway .. i had a friend who actually held on and lost something like 78K in pounds because he believed they would rally after a few years

The markets continue to cycle i can see Another Pommie Bar Steward down under

MY20 Defender 110 SE P400 Eiger/Ebony
MY10 3.0 RRS TDv6 Fuji/Ebony/Anigre

Same thing happened to me when buying a new watch. It is worth exactly the same amount if not more than what I bought it for, the shares are worth about 25% of what I sold them for!  RRS TDV6 HSE, 2006, bonatti grey, ebony interior, rear diff, s/c grille and vents, stormers, privacy, tasmods, iphone integration

What kind of watch did you buy? 2022 P440e AB

Probably a S/S Daytona?

kc

wish i could get a s/s daytona without paying such a premium for it

kcsun wrote:

Probably a S/S Daytona?

kc

Great Avatar..........oh how I wish I was the authoriser at Apple IPhone apps.............

I WANT IBOOBIES NOW  L322 Big Daddy SUPERCHARGED 5.0 Autobiography - Here & Now!

5 series for the miles

RRS S/C factory built HST - Gone

45 others have been and gone!

PauloAmore wrote:

What kind of watch did you buy?

Well, since my Daytona likes to lose parts (that's true ) and it's to blinkyblinky to meet customers when wearing it I bought a watch which is even more beautiful, a lot more practical and from a manufacturer most people don't know even if they can read it. And, well, since I am a true Travolta-Fan, guess what I bought...  RRS TDV6 HSE, 2006, bonatti grey, ebony interior, rear diff, s/c grille and vents, stormers, privacy, tasmods, iphone integration

Breitling?

Zilch wrote:

The same happened about to me 9 years ago during the dotcom boom when i lived in the UK, i sold some of my companies freebie shares and bought the wife a TD5 approximately 1 year old for 13K cash, plus 7K trade in on her TDI.

I sold it 4 years later for approximately 13K GBP to a certain James something in Oxfordshire.. The shares at the time had collapsed from $108 US dollars at their peak to exactly $1.50 (look up the highs and lows of Orange Business systems - nee Equant)

Therefore if i had kept the shares i would have lost something like 12,750 pounds in value vs the 7K trade in for the TDI which was basically wrote down anyway .. i had a friend who actually held on and lost something like 78K in pounds because he believed they would rally after a few years

The markets continue to cycle i can see

Tim in Scotland wrote:

Actually Zilch you lost nothing because they were free shares in the first place................................. all you lost was a few sheets of paper! So you did even better

all the blood, sweat and tears counts for nothing then

What i should have said is that a portion of my share portfolio was worth more in the form of a 2nd hand landrover, than the shares retaining their value over a very short period  Another Pommie Bar Steward down under

MY20 Defender 110 SE P400 Eiger/Ebony
MY10 3.0 RRS TDv6 Fuji/Ebony/Anigre

Korenai, you won 100 points!



@Jimmy_75000:
I received an email a few days ago with a similar calculation but even better: If you sold your stocks of a certain company (I don't remember which company it was) to buy beer and drank all the beer then the deposit for the empty bottles is worth more today than the shares you sold!  RRS TDV6 HSE, 2006, bonatti grey, ebony interior, rear diff, s/c grille and vents, stormers, privacy, tasmods, iphone integration