“The current market is at dizzying heights, and one must have the financial strength to buy the best, the patience to hold what is outstanding, and the discipline to sell what lacks je ne sais quoi.” —Philip Richter
In the November issue of Sports Car Market, Turtle Garage shares opinions regarding the status of the blue chip collector car market. The panel of writers on this timely topic also includes David Bryan, Doug Goodman, Michael Marzano, and Jakob Greisen. Our take is that (for ultra-rare and special blue chip cars) there is still room for the bulls to run. Experimental monetary policy, low interest rates, quantitative easing, and abundant available credit are all supporting asset prices of stocks, bonds, gold, rare art, and collector cars. Indeed, since the Global Financial Crisis in 2008, global central bankers have acted in a unified and unprecedented manner. The result? A boom in financial and real assets. The Federal Reserve is in a “do whatever it takes” mode, throwing the kitchen sink at markets whenever a hiccup occurs. Asset prices are inflating along with the Fed’s balance sheet. How this will stop or where it will end is anyone’s guess—our take is simply that it is not ending yet. So hold onto that ultra-rare Ferrari or Duesenberg, its likely to be worth more (maybe a LOT more) ten years from now. To read more, click below to enlarge the SCM article or go to www.sportscarmarket.com.