Re:How tech’s young millionaires spend their money
by jacques_chester on Monday August 05, 2013 @11:07PM
(#6164591)
I bought a part stake in a horse, and also wagered on it. The horse won and I made my money back. It's a bit of a focus on horses, but in a smart way.
Re:How tech’s young millionaires spend their money
by krrrh on Tuesday August 06, 2013 @01:00AM
(#6164893)
Hedging would be prudent, balancing risk and wagering on the other horses. If your horse loses, then you can limit your losses with your other winnings. If it wins then you can cover the money you put on the wagers. Over the long term that's smarter than putting everything on one pony.
Except that. .
>>>Also, there’s a bit of a focus on cars, but in a smart way. Merrill Lynch’s Hogan says, “I had a client come in and say that he bought a Tesla car – but he had also bought shares in the company. And he told us that he made enough profit on the shares to cover the cost of the car.”
So if I buy a 100K car and invest in the company, then that's smart? Otherwise, it's considered "conspicuous"?? If you drop 100K on a car, it doesn't matter how you bought it, it's still a 100K purchase on a car.