Recession proof your money

[kenkht]

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 :bsmilie:

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

 

[OldFlower]

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'.

 

[miniUltraman]

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

 

[nulbonklr]

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. :think:

 

[giantcanopy]

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

Ryan

 

[Quest]

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.

 

[Sion]

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.

 

[nulbonklr]

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. :bsmilie:

 

[miniUltraman]

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. :think:

Will get a couple of panerai and Rolex daytonas or GMTIIc to keep :bsmilie:

 

[giantcanopy]

Will get a couple of panerai and Rolex daytonas or GMTIIc to keep :bsmilie:

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

 

[GavinTing]

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

 

[zj2000]

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....

 

[GavinTing]

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 :bsmilie:

 

[dreaming]

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. :bsmilie:

fren, u got to correct that 3800 index point?

 

[nulbonklr]

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=^STI&a=11&b=28&c=1987&d=09&e=12&f=2008&g=d&z=66&y=198

 

[geeteethree]

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.