Mark B. Morrow Posted December 24, 2009 Share Posted December 24, 2009 According to Time, it's his only car and almost paid off. Quote Link to comment Share on other sites More sharing options...
J-150 Posted December 24, 2009 Share Posted December 24, 2009 According to Time, it's his only car and almost paid off. makes sense, considering he gets a limo ride to and from work Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted December 24, 2009 Share Posted December 24, 2009 According to Time, it's his only car and almost paid off. Almost paid off? For a financial guru, should he have a loan on a 15-20k car? Especially with the $$$ that guy makes. Quote Link to comment Share on other sites More sharing options...
LincolnV Posted December 24, 2009 Share Posted December 24, 2009 Almost paid off? For a financial guru, should he have a loan on a 15-20k car? Especially with the $$$ that guy makes. Maybe he got it with 0% financing?....... Quote Link to comment Share on other sites More sharing options...
LarryQW Posted December 24, 2009 Share Posted December 24, 2009 Almost paid off? For a financial guru, should he have a loan on a 15-20k car? Especially with the $$$ that guy makes. I sure wish "Helicopter Ben" was just as frugal with our country's money. Quote Link to comment Share on other sites More sharing options...
Ralph Greene Posted December 24, 2009 Share Posted December 24, 2009 A lot of smart hi income or wealthy people (two different things), who have plenty of cash to pay cash with.....do not put their cash into depreciating assets. They may schedule their payments to about equal the depreciation rate.....IE pay for it as they use it up....kinda like you do your electric bill (a consumable item), or they may lease it and just pay for the depreciation and keep their money invested. If you have money, you should consider the purchase of a vehicle a little differently than a person living pay check to pay check. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted December 24, 2009 Share Posted December 24, 2009 Especially with the $$$ that guy makes. Does he really make all that terribly much? I used to think that 50k was a lot of money....until I started making it. Now I'm not sure how people ever buy anything....ever. Quote Link to comment Share on other sites More sharing options...
focus05 Posted December 24, 2009 Share Posted December 24, 2009 To be sure his Federal Chairman salary is probably only $200-300k. But, he has money. Investments. Significant holdings. His real income is probably more like $1M+ Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted December 24, 2009 Share Posted December 24, 2009 Almost paid off? For a financial guru, should he have a loan on a 15-20k car? Especially with the $$$ that guy makes. I believe Warren Buffet drives an old station wagon and has lived in the same, modest house for over 40 years. Maybe that is why he is rich. I drive a 2002 Taurus that has been paid off for over 4 years, but I'm not rich. Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted December 24, 2009 Share Posted December 24, 2009 Does he really make all that terribly much? I used to think that 50k was a lot of money....until I started making it. Now I'm not sure how people ever buy anything....ever. I could never figure that out either until so many families started losing their homes. Then I figured it out...CREDIT!!!! :happy feet: Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted December 24, 2009 Share Posted December 24, 2009 To be sure his Federal Chairman salary is probably only $200-300k. But, he has money. Investments. Significant holdings. His real income is probably more like $1M+ Pretty sure his investments--if he's got them--are in a blind trust he can't touch while he's in office. And if the wife isn't raking in money hand over fist, $200-300k doesn't go very far in DC, and he probably wasn't making more than that as a Princeton professor. Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted December 24, 2009 Share Posted December 24, 2009 (edited) Pretty sure his investments--if he's got them--are in a blind trust he can't touch while he's in office. My understanding is that he can't have any hand in (or knowledge of) its management, but he can withdraw cash from them. Edited December 24, 2009 by Noah Harbinger Quote Link to comment Share on other sites More sharing options...
Pioneer Posted December 24, 2009 Share Posted December 24, 2009 Maybe he got it with 0% financing?....... Ford's 0% financing. Gotta love it. Purchased my last 3 vehicles with it. Quote Link to comment Share on other sites More sharing options...
J-150 Posted December 24, 2009 Share Posted December 24, 2009 I believe Warren Buffet drives an old station wagon and has lived in the same, modest house for over 40 years. Maybe that is why he is rich. I drive a 2002 Taurus that has been paid off for over 4 years, but I'm not rich. I heard it was an older Town Car but same diff when you make that kind of cash. There are also the stories of Sam Walton driving an old beat-up pickup to work everyday Quote Link to comment Share on other sites More sharing options...
mettech Posted December 24, 2009 Share Posted December 24, 2009 I believe Warren Buffet drives an old station wagon and has lived in the same, modest house for over 40 years. Maybe that is why he is rich. I drive a 2002 Taurus that has been paid off for over 4 years, but I'm not rich. But you both think a-like when it comes to cars. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted December 24, 2009 Share Posted December 24, 2009 Warren Buffet drives a 2001 Lincoln Town Car Signature Series. It has a personalised licence plate that says "THRIFTY". http://www.billdoll.com/bl/p/2007/03/warre...oes-genius.html Quote Link to comment Share on other sites More sharing options...
Nick986 Posted December 25, 2009 Share Posted December 25, 2009 Warren Buffet drives a 2001 Lincoln Town Car Signature Series. It has a personalised licence plate that says "THRIFTY". http://www.billdoll.com/bl/p/2007/03/warre...oes-genius.html He auctioned that car off awhile back. He drives a Cadillac DTS now. Quote Link to comment Share on other sites More sharing options...
aneekr Posted December 25, 2009 Share Posted December 25, 2009 He auctioned that car off awhile back. He drives a Cadillac DTS now. Indeed- Warren Buffett praised GM and Rick Wagoner back in 2006 and paid cash for that DTS to demonstrate his ardor. I wonder if he still feels that way about GM now? Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted December 25, 2009 Share Posted December 25, 2009 Indeed- Warren Buffett praised GM and Rick Wagoner back in 2006 and paid cash for that DTS to demonstrate his ardor. I wonder if he still feels that way about GM now? If he had REALLY liked GM, he could have bought the company instead. Quote Link to comment Share on other sites More sharing options...
J-150 Posted December 25, 2009 Share Posted December 25, 2009 If he had REALLY liked GM, he could have bought the company instead. yep. Money talks and his was remarkably quiet Quote Link to comment Share on other sites More sharing options...
jasonj80 Posted December 26, 2009 Share Posted December 26, 2009 If he had REALLY liked GM, he could have bought the company instead. He went Chinese instead with BYD - http://money.cnn.com/2009/04/13/technology...ectric.fortune/. Though after the market tanked his stock has not responded the way the market as a whole has. The DOW is up about 23% vs. a year ago. BRK is only up about 7%. At the lows the Market was down about 22% and BRK was down 27%. My Berkshire stock I bought is the poorest performing stock I purchased this year. Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted December 26, 2009 Share Posted December 26, 2009 (edited) Though after the market tanked his stock has not responded the way the market as a whole has. The DOW is up about 23% vs. a year ago. BRK is only up about 7%. At the lows the Market was down about 22% and BRK was down 27%. My Berkshire stock I bought is the poorest performing stock I purchased this year. Only because it has, and had, less ground to make up. Compare prices from the pre-bust highs (using an approximate date) , and BRK.A is down 10.5%, whereas the S&P is down 27.5% and the Dow 24%. Investors buying a 99k/share stock are probably less likely to panic or be forced by job loss or other circumstances into liquidating equities than the public in general. Edited December 26, 2009 by Noah Harbinger Quote Link to comment Share on other sites More sharing options...
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