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Ira:
I am glad today is most over. I think it was pick on Norman day. Thanks for the
information. It is water under the dam.
I try not to look back. I have had enough disasters in my life that made me
depressed. My new outlook on life came about after I read the book "Die Broke." I
strongly recommend it, it changed my outlook 180 degrees. (No I am not the author,
I do not derive any income from this recommendation) . If you don't want another
book in your library, get it from the public library like I did. You can not take
it with you. Money is no longer important in my life, boy that statement ought to
get me a few e-mails.
Norman E.
Ira wrote:
> Those seats rent for 1 1/2 to 1 3/4 per cent per month. If there is a great
> demand I have seen them go to 2% per month. Put those numbers in your machine and
> compound that. Now see if the return is better or worse. by the way every time
> the seat price goes up so does the rent. Like, mark to the market. If he paid
> $12,000 for the seat and just rented it out, when the seat got to $300,000 his
> rent would have been $4500 per month. You have to add all the income to get a
> total return on invested capital. He would have surpassed almost any other
> investment you can think of at this time other then the drug trade, and from what
> I last heard, they haven't made that legal yet.. Ira.
>
> "Norman E. Phair" wrote:
>
> > Gitanshu:
> >
> > Thanks, you made me feel a little better. Even if I had done it I probably
> > would have sold LONG before the top. If you buy a seat you usually do it as
> > your cost of doing business. My regrets are mainly that I did not do it for
> > the adventure of being where the action is. Something to reminisce about when
> > I am in my rocking chair. Now i get enough adventure driving the LA freeways.
> >
> > Norman E.
> >
> > Gitanshu Buch wrote:
> >
> > > > came close to buying a seat on the Merk. in 1968, last sale
> > > > >at the time was $12,500. A few years ago it hit over $800,000. I hope
> > > > >this is the only stupid thing I admit to on here.
> > >
> > > Norman
> > >
> > > You probably saved yourself some money.
> > >
> > > Assuming a "few years" is 3 years, and the "Merk" = the Chicago Mercantile
> > > Exchange - over a 28 year period from 1968 to 1996, your CAGR would have
> > > been 16% if you actually sold for 800k.
> > >
> > > Just 2 more years later the bid on the seat is 325k, which works out to
> > > 11.5% compounded for the 30 year holding period.
> > >
> > > I'd stick to stocks.
> > >
> > > Better ROI even if you consider lease income, and less physical stress for
> > > equal/superior risk.
> > >
> > > In spite of 1972-79, 1987, 1991, 1997, 1998 and who knows what may come from
> > > now on.
> > >
> > > Just a cost-benefit opportunist's thought.
> > >
> > > Gitanshu
> > >
> > > [Image]
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