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Thread: Recession proof your money

  1. #1
    Member kenkht's Avatar
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    Default Recession proof your money

    With the financial news going south these days, I just thought of a crazy idea to recession proof your money. BUY MORE LENSES!

    The logic is if you got some money to put away, most of us will put into the bank and earn a meager <1% or slightly more. Not to mention the shaky ground that banks are in now and with only a guarantee of $20k. Looking at the resale price of lenses, I think it is a darn good investment. IF you calculate the price of FUN + your resale cost of your lenses 1 year down the road, I'm sure you'll agree it is the best investment at the moment

    OK, some of you may diversify to a more stable gold...but where is the fun in that..think about it!

  2. #2
    Member OldFlower's Avatar
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    Default Re: Recession proof your money

    Bloody good point you got there.

    Facts is, with all these bad economic news going round, prices of big ticket items like large LCD TV, Cars, Computers, and Photography equipment are at their best!

    BUT, I repeat, BUT, do so only when you have surpluses accumulated during better times, and make sure you can outlast the projected 2 year downturn. Otherwise, good luck if after splurging you lose your job, or your business goes into a 'coma'.

  3. #3

    Default Re: Recession proof your money

    Japanese yen is going up ... Lens price might up too

  4. #4

    Default Re: Recession proof your money

    Hmmm, instead of investing in lens, we can look into investing in watches.

    See the link here.

    http://www.jewellerytime.com.sg/

    Wondering whether photography during the event is allow.

  5. #5
    Senior Member giantcanopy's Avatar
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    Default Re: Recession proof your money

    You are buying something that is not cheaper during recession, and will depreciates with time. How is that a good monetary investment ?

    Ryan

  6. #6

    Default Re: Recession proof your money

    in a reccession, cash is king.

    in a turmoil, gold is supreme.

    during wars, change of gov etc, gold is the sole source of wealth. currencies may change when gov changed and introduce a new currency and render the old currency almost worthless or hugely depreciatd. But no gov can issue a fiat to say that gold is worthless.

    Gold can withstand the test of time anytime.

  7. #7
    Senior Member Sion's Avatar
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    Default Re: Recession proof your money

    Quote Originally Posted by Quest View Post
    in a reccession, cash is king.

    in a turmoil, gold is supreme.

    during wars, change of gov etc, gold is the sole source of wealth. currencies may change when gov changed and introduce a new currency and render the old currency almost worthless or hugely depreciatd. But no gov can issue a fiat to say that gold is worthless.

    Gold can withstand the test of time anytime.
    I agree.

    If you can afford it, have a set of gold teeth made.

    It is the safest investment as nobody can take it out from your mouth.

  8. #8

    Default Re: Recession proof your money

    Quote Originally Posted by giantcanopy View Post
    You are buying something that is not cheaper during recession, and will depreciates with time. How is that a good monetary investment ?

    Ryan
    Seriously, if we do want to have a good monetary investment, we should start focusing on our local stock market.

    4th quarter last year, our STI index peaks around 3800. During our Asia financial crisis, our STI bottoms at around 900. As of now, some of the blue chips stock were already down by at least 40%.

    Wait for another few more months for the dust to settle, my guess is that STI shall drop below 1500. Select a few blue chip stocks to invest at different indexes. Provided the stocks that we invest, the corp or company dun go bust. Few years later, we use all the gains from our investment to buy all lens we want.
    Last edited by nulbonklr; 12th October 2008 at 01:49 PM.

  9. #9

    Default Re: Recession proof your money

    Quote Originally Posted by nulbonklr View Post
    Hmmm, instead of investing in lens, we can look into investing in watches.

    See the link here.

    http://www.jewellerytime.com.sg/

    Wondering whether photography during the event is allow.
    Will get a couple of panerai and Rolex daytonas or GMTIIc to keep

  10. #10
    Senior Member giantcanopy's Avatar
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    Default Re: Recession proof your money

    Quote Originally Posted by miniUltraman View Post
    Will get a couple of panerai and Rolex daytonas or GMTIIc to keep
    Sounds great. Provided we do not live beyond our means on credit even more so in recession as our US conterparts have demonstrated.

    Time to clear my credit bills kekeke


    Ryan

  11. #11

    Default Re: Recession proof your money

    Hmm... If we don't recover within 1 year, your spanking new lens won't have warranty, so abit harder to sell, and abit lower price.

    Then since you are considering having fun with your lens, won't be brand spanking new, so a bit lower price again.

    I think your concept is a bit flawed. Say I buy a 10k lens, and resell it for 8/9k after 1 year.. I still loose 1k, compared to it sitting in the bank and staying at 10k. If you really wanted to protect yourself from the 20k insurance limit, why not just take all your money out in cash, and leave it in a safe? Won't that be better than fighting infinite depreciation?

    Since you mentioned you are trying to protect your money because "Not to mention the shaky ground that banks are in now and with only a guarantee of $20k", I assume you will take out all your money above 20k. On average, thats 200k to 1mil?

    Buying 1mil of camera lenses, and then selling them on. Gee, that sounds like awesome fun
    Meow!

  12. #12

    Default Re: Recession proof your money

    Sometimes I wonder what happens to cameras or lenses of people who went bankrupt? Do they get auctioned off? Can try buying at an auction then....

  13. #13

    Default Re: Recession proof your money

    Quote Originally Posted by zj2000 View Post
    Sometimes I wonder what happens to cameras or lenses of people who went bankrupt? Do they get auctioned off? Can try buying at an auction then....
    Those small lens that don't look super expensive to a layman, for eg a 50mm 1.2L, I suppose the repo dude wont think its worth much, prolly sell for 20 dollars as a paper weight
    Meow!

  14. #14

    Default Re: Recession proof your money

    Quote Originally Posted by nulbonklr View Post
    Seriously, if we do want to have a good monetary investment, we should start focusing on our local stock market.

    4th quarter last year, our STI index peaks around 3800. During our Asia financial crisis, our STI bottoms at around 900. As of now, some of the blue chips stock were already down by at least 40%.

    Wait for another few more months for the dust to settle, my guess is that STI shall drop below 1500. Select a few blue chip stocks to invest at different indexes. Provided the stocks that we invest, the corp or company dun go bust. Few years later, we use all the gains from our investment to buy all lens we want.
    fren, u got to correct that 3800 index point?

  15. #15

    Default Re: Recession proof your money

    Quote Originally Posted by dreaming View Post
    fren, u got to correct that 3800 index point?
    Bro, correct. See this link. For the month of Oct 07.

    http://sg.finance.yahoo.com/q/hp?s=^...g=d&z=66&y=198

  16. #16

    Default Re: Recession proof your money

    One of the best things to invest in these days are bank notes.
    But you have to do your research.

    Best off looking at older notes, limited run notes.
    And they are not cheap. 20$ bill could easily be worth 5,000$$ if it is a collectable.

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