Tuesday, November 11, 2008

Fear and Greed

At iILUXCARS, we pride ourselves in having our finger on the heartbeat of our industry. And right now, the heartbeat of the luxury car world is beating a little fast. 

Sure, there is uncertainty about things - about prices, customers, even the future of big chunks of the industry. People are distracted.

We know this because good cars at very good prices aren't getting good bids. We think it's fear. 

Warren Buffet recently wrote an op-ed piece in the New York Times. He had an interesting quote: He said, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.

Smart guy, that Warren Buffet.

Look at it this way - Prices are down. People are fearful. Sounds like a good time to buy.

Be like Warren. Be greedy.

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