Hedge fund managers' sports car ownership predicts their unwise risk-taking

Some people just are into nice cars. I grew up with my parents always driving really nice, high performance cars. Of course, my Dad fits neatly into the risk-taking metric. I drive them at least partly because regular cars seem boring and sluggish to me, because I was spoiled by living with better cars as a kid and teenager.
That being said, hedge fund managers are generally morally retarded, in my experience. Also, there is a difference between driving a car as a status symbol, and driving it because you just love the mechanics of it. And also a difference between having a fabulous car because you threw a bunch of money at it, and people like us who have them because we were willing to put in the effort and develop the skills to do all the mechanical, body and paint work.

Someone who is not a car person probably cannot understand that some of us really do not drive the cars we do because of what other people think, or for apparent status. I just really like them.

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Witness the birth of the 500hp minivan.

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Up on the Old Road (my favourite sportsbike playground), you occasionally get a convoy of million-dollar supercars. The local rich idiot dealership uses it for test drives.

They very rarely exceed 50km/h.

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Well, I’m a balding old guy who drives a 30-year-old Italian convertible. When I drive slowly, it’s because I don’t trust the car at higher speeds. Also, 30mph in my car already feels like 100mph in any modern sedan.

(I do notice that nearly every newer high-end convertible is driven here with the top up, I guess to keep the rug from blowing off.)

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This is a good reminder for me, personally. The stereotype of a person driving a high-end car is definitely a person with more money than brains. But I definitely have to respect the craft of someone who is keeping the thing running themselves - that’s everything that the folks who run BB typically love: geek, maker, etc. Thanks for posting this.

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Sure! Averages and individuals are different things, and demographics are usually representing the former more than the latter, of course.

I was 25 when I totalled the porsche 914 I was rebuilding at the time. Broke my zygomatic process and separated the sagittal suture of my skull, which has contributed to my migraine problem.

But the people who are into luxury sports cars, and can also afford to buy them new, are mostly middle-aged, mostly drive slow so that they can be seen driving their sweet cars, and (at least in the 1980s, when I was looking at marketing research) are more likely to be bald or balding than average. I find this amusing, given the way marketing shows luxury sports cars being driven by dynamic, virile young men with TV hair (but perhaps it would be less funny if I wasn’t an old Prius driver with a full head of hair.)

My sister drives a early 70s MGB (in England, with left-hand drive) which my dad and I rebuilt for her in the late 80s. I totally understand!

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I am glad you made it through the accident. I am sorry to hear about the lasting effects.
I don’t doubt that you are right about averages and likelyhoods, but there are many exceptions. We mostly have more vintage cars, although they can be deceiving. Today I was working on a 1936 ford pickup, which looks completely stock on the outside, but has a 700hp engine. But even with the vintage cars there is a big difference between those who do all the work, and those who just spend money. I remember once at a car show where dad was showing some cars, and he pointed out one guy’s car and told me confidentially that “He bought it like that, he does not really know anything!”.
Those types of people, like the hedge fund guys, are at least frustrated that they can sort of buy the trappings and appearances of real car people, but they are always stuck on the outside, looking in. Another story my Dad tells are the times fabulously wealthy people have tried to buy his cars, only to be told “It is not for sale, you can’t have it”. This happens fairly often with the De Tomaso Mangusta. I also covet it, but at least I could keep it running, if it becomes mine some day.

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