The stock market made me hit the pause button

[tudk]

Yawn

[mountainjogger]

Originally Posted by rajurama

Yep that's my point conveyed better.

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

[Krash]

Originally Posted by mountainjogger

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

Nobody on this thread said anything about watches being a part of their investment portfolio. Nobody on this thread said anything about selling stock to buy a watch.

Very simple: Since the stock market is crashing, some people are saying they don’t feel comfortable buying a watch when their overall net worth is declining. This is a wise decision.

It’s not any more difficult than that. I’m not sure why people are interpreting it any different than that.


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[rajurama]

Originally Posted by mountainjogger

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

Agreed and well put together.

[Watchcollector123]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

People will find it hard to swallow but there is a lot of truth there even if you have made it too drastic.
Buying a big ticket item should certainly depend on one’s financial situation but not a lot on financial situation around one. Though the financial situation around one can impact one’s financial situation to some extent. What he is implying is that one’s buying decision shouldn’t be dictated by the probability of the watch going up or down in value/price due to the prevailing financial situation. If one is buying a watch purely out of love for watches.

[allen993]

Originally Posted by Watchcollector123

there is a lot of truth there

actually...no there is not.

[Dhiren]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Seriously !? What you say make’s no sense at all.


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[Calatrava r]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

I think every luxury purchase decision must be based on sound financial footing and analysis, not just passion.

[eltonbalch]

Originally Posted by Calatrava r

I think every luxury purchase decision must be based on sound financial footing and analysis, not just passion.

Totally agree, but if my AD calls with that Pepsi GMT I’ve been craving I’ll be on my way, speed dialing my favorite greys to see what they’ll give me….

Totally joking BTW…I’d keep it

[vman]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Some may misinterpret your statement... But I agree with you in spirit. Somewhere this hole watch collecting thing went off track.

[rajurama]

Originally Posted by vman

Some may misinterpret your statement... But I agree with you in spirit. Somewhere this hole watch collecting thing went off track.

I guess wherever money $$$ over powers , things can go off track...

[zengineer]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

I'm so tired of the "I'm a purist and everyone who even thinks about the cost or value of watches is not". Whether it's cars, motorcycles, firearms, watches or other hobbies, I play with money that isn't needed for anything critical. How comfortable I am spending discretionary money has everything to do with how well I'm set on retirement savings and other funds...and this economy isn't exactly doing g my annual bonus any favors. It's all a part of the larger picture when I think about spending money on luxuries.

I think it's called being a responsible adult.

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[THC]

There is simply nothing good going on right now in America, economically speaking.

[Adam84]

Originally Posted by THC

There is simply nothing good going on right now in America, economically speaking.

In fairness its not just America, the UK is pretty rocky, as is Europe....infact most parts of the world are feeling it.

[Incroyable12]

Originally Posted by Adam84

In fairness its not just America, the UK is pretty rocky, as is Europe....infact most parts of the world are feeling it.

China is doing badly too.

[Peanut1pool]

Originally Posted by Adam84

In fairness its not just America, the UK is pretty rocky, as is Europe....infact most parts of the world are feeling it.

I always thought the UK was in Europe.

[CanPam]

Have you ever heard the word "Brexit"?

Originally Posted by Peanut1pool

I always thought the UK was in Europe.

[DoDe]

Originally Posted by CanPam

Have you ever heard the word "Brexit"?

[Adam84]

Originally Posted by CanPam

Have you ever heard the word "Brexit"?

i mean, were still part of europe, just not the european union.

[Adam84]

Originally Posted by Peanut1pool

I always thought the UK was in Europe.

It is, bad wording on my part, i meant the uk as well as the whole of europe.

[rolexandlange]

Originally Posted by THC

There is simply nothing good going on right now in America, economically speaking.

Full employment is pretty good. but to the peanut gallery, who do you think the ADs want to sell to? Those who still have the passion to buy even when it's not a financial home run. Now is a good time to reiterate your interests at the AD.

[Adam84]

Originally Posted by rolexandlange

Full employment is pretty good. but to the peanut gallery, who do you think the ADs want to sell to? Those who still have the passion to buy even when it's not a financial home run. Now is a good time to reiterate your interests at the AD.

Full employment can be good and bad. While its great for the individual because they have a job, its not great for inflation because people want wage increases and can demand them....which further increases inflation.

Supply and demand as with everything. Its starting to happen in the UK

[allen993]

Originally Posted by rolexandlange

who do you think the ADs want to sell to?

easy....anybody that has the money.

[Fleetlord]

Originally Posted by THC

There is simply nothing good going on right now in America, economically speaking.

I guess it's relative to where in America.

I was just in SFL. Couldn't see any appreciable impact from any economic issues.

Gas is the highest I have ever seen it: Roads were PACKED as always. Highways, surface streets....packed packed packed.

Went to a few upper end restaurants: Also packed. Some had no reservations available..on a weeknight..lol

Mall? Malls are supposed to be dead right? NOPE. PACKED with shoppers. Lines outside luxury stores.

Construction is still booming. Custom Homes, Tract Homes, Multi-family...no hesitation at all.

It's just different now. Bad economic "news" all over the place. Costs are certainly up up and away, but in some places, it doesn't seem to matter.


So...Buy the ROLEX....STONKS GO UP!

[Krash]

Originally Posted by Fleetlord

I guess it's relative to where in America.

I was just in SFL. Couldn't see any appreciable impact from any economic issues.

Gas is the highest I have ever seen it: Roads were PACKED as always. Highways, surface streets....packed packed packed.

Went to a few upper end restaurants: Also packed. Some had no reservations available..on a weeknight..lol

Mall? Malls are supposed to be dead right? NOPE. PACKED with shoppers. Lines outside luxury stores.

Construction is still booming. Custom Homes, Tract Homes, Multi-family...no hesitation at all.

It's just different now. Bad economic "news" all over the place. Costs are certainly up up and away, but in some places, it doesn't seem to matter.


So...Buy the ROLEX....STONKS GO UP!

I live in FL too. The economy is booming here.

However, we need to pay attention to the basic fundamentals.

Some patients look like they’re in great shape, but they actually have a ticking time bomb in their chest. Upon doing an ECG or echo cardiogram, that’s when the problems become clear.

Walmart and Target just reported terrible quarterly earnings. Both companies are considered bellwethers (leading indicators) for the overall health of the economy. They both advised that the economic outlook is problematic. Many other companies are saying the same thing, but Walmart and Target are especially noteworthy.

Inflation is at a 40 year high. It was at a 40 year high before Russia invaded Ukraine, so when people try to blame Russia for it, they sound stupid. Only way to combat inflation is to dramatically raise interest rates. This will make housing much less affordable and hurt the construction industry long term. Fact is, the amount of new mortgages last month just took a huge nosedive.

The Stock Market is another leading indicator. It’s crashing. It’s a slow motion crash, but it’s crashing. This will wipe away trillions of dollars worth of wealth globally.

Also, many of the worlds leading economists are now saying a global recession is likely. All the banks are saying the same thing too.

So I wouldn’t make any economic forecasts based on what I see when driving or going shopping.


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[Fleetlord]

Originally Posted by Krash

I live in FL too. The economy is booming here.

However, we need to pay attention to the basic fundamentals.

Some patients look like they’re in great shape, but they actually have a ticking time bomb in their chest. Upon doing an ECG or echo cardiogram, that’s when the problems become clear.

Walmart and Target just reported terrible quarterly earnings. Both companies are considered bellwethers (leading indicators) for the overall health of the economy. They both advised that the economic outlook is problematic. Many other companies are saying the same thing, but Walmart and Target are especially noteworthy.

Inflation is at a 40 year high. It was at a 40 year high before Russia invaded Ukraine, so when people try to blame Russia for it, they sound stupid. Only way to combat inflation is to dramatically raise interest rates. This will make housing much less affordable and hurt the construction industry long term. Fact is, the amount of new mortgages last month just took a huge nosedive.

The Stock Market is another leading indicator. It’s crashing. It’s a slow motion crash, but it’s crashing. This will wipe away trillions of dollars worth of wealth globally.

Also, many of the worlds leading economists are now saying a global recession is likely. All the banks are saying the same thing too.

So I wouldn’t make any economic forecasts based on what I see when driving or going shopping.


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I don't disagree with you about the fundamentals and impending recession...it just seems as people just aren't quite ready yet to participate in the downturn...except for watch collectors who are as afraid of their shadow as can possibly be!

[Krash]

Originally Posted by Fleetlord

I don't disagree with you about the fundamentals and impending recession...it just seems as people just aren't quite ready yet to participate in the downturn...except for watch collectors who are as afraid of their shadow as can possibly be!

Are you serious? Do you honestly think it’s just watch collectors? You need to get out more, travel around the country and talk to people.


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[Calatrava r]

Originally Posted by Krash

I live in FL too. The economy is booming here.

However, we need to pay attention to the basic fundamentals.

Some patients look like they’re in great shape, but they actually have a ticking time bomb in their chest. Upon doing an ECG or echo cardiogram, that’s when the problems become clear.

Walmart and Target just reported terrible quarterly earnings. Both companies are considered bellwethers (leading indicators) for the overall health of the economy. They both advised that the economic outlook is problematic. Many other companies are saying the same thing, but Walmart and Target are especially noteworthy.

Inflation is at a 40 year high. It was at a 40 year high before Russia invaded Ukraine, so when people try to blame Russia for it, they sound stupid. Only way to combat inflation is to dramatically raise interest rates. This will make housing much less affordable and hurt the construction industry long term. Fact is, the amount of new mortgages last month just took a huge nosedive.

The Stock Market is another leading indicator. It’s crashing. It’s a slow motion crash, but it’s crashing. This will wipe away trillions of dollars worth of wealth globally.

Also, many of the worlds leading economists are now saying a global recession is likely. All the banks are saying the same thing too.

So I wouldn’t make any economic forecasts based on what I see when driving or going shopping.


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When you don't see any activity when you drive or go shopping, it's time to worry.

[Fleetlord]

Originally Posted by Calatrava r

When you don't see any activity when you drive or go shopping, it's time to worry.

I agree. When the streets, stores and restaurants start to get quiet...along with layoffs...then I would start to "worry"

The optics of the street betray the news, the analysis and the "fundamentals".

Yes, there are may individuals and families struggling with the inflation....but there are also many more that seemingly haven't really been bothered by it.

They are still out there driving...(carpool lane on highway is as empty as ever) all over the place, packing into malls and upscale restaurants...business as usual.

I thought a rash of layoffs were starting, I started a thread here about it, but many said that was just overvalued tech companies shedding post pandemic bulk...and the rest of the labor market is just fine...which it appears to be...at least for now?

[LA_LEC]

Originally Posted by Fleetlord

I guess it's relative to where in America.

I was just in SFL. Couldn't see any appreciable impact from any economic issues.

Gas is the highest I have ever seen it: Roads were PACKED as always. Highways, surface streets....packed packed packed.

Went to a few upper end restaurants: Also packed. Some had no reservations available..on a weeknight..lol

Mall? Malls are supposed to be dead right? NOPE. PACKED with shoppers. Lines outside luxury stores.

Construction is still booming. Custom Homes, Tract Homes, Multi-family...no hesitation at all.

It's just different now. Bad economic "news" all over the place. Costs are certainly up up and away, but in some places, it doesn't seem to matter.


So...Buy the ROLEX....STONKS GO UP!

It doesn't matter here in L.A. I can tell you.

More traffic than I have ever seen...highest gas prices I have ever seen...the malls are full...full of looters that is!