Every week, I like to pass along some of the most interesting and entertaining stories happening in the unconventional investing world.
The sorts of stories that go great with a quiet morning, some form of drink — preferably ice-cold right now — and a little time and space to let thoughts unfold.
Relax, read, enjoy.
Baby, You Can Drive My Car
On second thought — hands off.
Now, that’s a car… (Photo credit: Tristan Fewings/Getty Images)
Today — perhaps even as you’re reading this — the first Porsche ever made is being auctioned off.
Technically, it’s a Volkswagen — but it was designed in the late ’30s by Ferdinand Porsche. His son put the Porsche name on the hood around a decade later, once the Porsche car company got off the ground.
This kind of car — a one-of-a-kind progenitor for one of the most famous names in automobiles — doesn’t come up for auction often. So it shouldn’t be a big surprise that it’s expected to fetch a huge sum.
How huge? Try $20 million — which would be nearly a 50% increase over the previous record holder.
Of course, most of us can’t afford to drop $20 million on a car, no matter how much it’s likely to appreciate in the coming years.
That’s why fractional investing is one of my favorite methods to play with the big boys in the rare collectible space. For cars, that means visiting Rally Rd. so you can grab part of a car a billionaire would be proud of — at a price anyone can afford.
Were They High?
While we don’t get very involved in the cannabis industry — we just aren’t interested in stock or Wall Street plays — there’s no doubt it’s highly unconventional.
Plenty of readers have an interest, though, so I always keep an eye out for stories that could make an impact. Like — I don’t know — if the state of Ohio accidentally legalized marijuana.
You read that right. Ohio wanted to make hemp legal — which they did. But Ohio wanted to keep marijuana illegal — so they created a THC content cutoff.
Only problem is — there’s no way to tell how much THC is in a plant by looking at it. In fact, Ohio’s crime labs can’t even tell how much THC content there is — only whether the compound is present or not.
Unless and until the state invests in new, expensive testing equipment, marijuana is de facto legal in Ohio. Cities and police forces are ordering officers to stand down and forget about pursuing any marijuana charges (they can’t stick in court).
With the direction cannabis legislation is going, it’s an open question whether Ohio will bother to update crime labs to investigate THC content. Why invest a bunch of money if pot will simply be legal everywhere sooner rather than later?
It’s the One Thing You Can’t Buy More Of
Here at UCW, we often look at ways to save money. After all, the more you save, the more you
have available to invest and enjoy.
But we aren’t misers… Indeed — there are situations where folks make a mistake by not spending money.
Want a great example? Buying time.
Lots of us are pennywise and pound-foolish. Sometimes that’s because we weren’t wealthy as kids, so we grew up with a thrifty attitude. Sometimes it’s fear of looking overly extravagant. Sometimes it’s just habit.
Whatever the reason — even though people say they value their time over anything else, their behavior says the opposite.
It’s worth taking stock of where you’re “saving” and figuring out if the money kept in your account is worth the time you’re trading for it.
It may be better to hire the accountant to do your taxes or a housekeeper to save those cleaning hours every week. That way, you can make more money in the time you save — or simply increase your quality of life.
After all, that’s what it’s all about.
Whoever dies with the most money doesn’t win. It’s whoever enjoyed their life the most.
The Most Productive Customer Complaint Letter Ever?
Don’t like the way a bureaucracy is treating you? Think a store you frequent is making a fatal error, easily fixed? That waiting room driving you mad — and you know the remedy?
Well, you can bellyache about it — just like Rowland Hill did in the 1830s.
Or you can completely upend an entire industry, arguably helping to usher in the modern age — just like Rowland Hill did in the 1830s.
Even more fun — Mr. Hill invented one of our favorite collectible categories, with the longest history and the best investment performance.
But beyond all that — this is a very entertaining story. Especially if you’ve ever been annoyed by an uncaring behemoth. Which means everyone.
Editor-in-chief, Unconventional Wealth
P.S. Did that Porsche above catch your eye? You might not be able to buy that one, but you can own fractional shares of similar cars — at prices we all can afford. Check out how at Rally Rd.
Ryan Cole is the editor-in-chief of Unconventional Wealth. He’s been covering the alternative investment space for nearly a decade and writing about finance and investment for almost 20 years.
Ryan has walked the walk for years, living a very unconventional life. He’s led snowmobile tours through the mountains of Colorado, settled in Japan for five...