Newswires are abuzz over the possibility that Aston Martin will file for an initial public offering (IPO). Like Ferrari (ticker RACE), Aston Martin hopes to achieve a similar lofty valuation in the public markets—Ferrari currently trades at 46 times earnings! The potential valuations being discussed for Aston Martin must bring a sigh of regret to […]
“Many vehicles are billed as ‘speedsters’ or ‘racers,’ but the Duesenberg SSJ really was. Peaking at 140mph in 1935, it was simply an unbeatable performer, matched by unbeatable style.” —Miles Collier “This incredible car embodies everything that is exciting about an automotive masterpiece: beauty, rarity, provenance, and sheer power. This SSJ is one of the […]
It is a great privilege to contribute stories to Sports Car Market (SCM). The bedrock of this venerable publication is a staff that is competent, motivated, and highly dedicated to the mission of producing a first-class publication every month. Publisher Keith Martin maintains a unique and respected status within the collector car community, and he holds deep relationships […]
At the 2018 Greenwich Concours d’Elegance, Dr. Fred Simeone and Philip Richter were interviewed by Alexander Davidis for CarCulture.tv. These two unusual video interviews articulate the passion of the car hobby and the importance of the automobile as an artistic and cultural object. Cars can be an expression of art and should be carefully preserved […]
In May 2012, Edvard Munch’s eerie expressionist painting “The Scream” sold for a record $120 million. At the time, this historic sale reset the art market and raised eyebrows worldwide. Last week the collector car world may have reached a similar pinnacle with the $70 million private sale of a 1963 Ferrari 250 GTO. This […]
“We’re going to feed the healthy parts of our business, and deal decisively with the parts that destroy value.” —Ford CEO James Hackett “Everything will be on the table. We can make different investments, we can partner, we can exit products, markets — and we will do that.” —Ford CFO Bob Shanks “Virtually eliminating Ford’s […]
“Our own model does not incorporate a capital raise, but our lowered estimates newly show the company with less than $1 billion at the end of the third quarter, which the company has previously defined as its minimum comfort level, suggesting to us an increased—not decreased—likelihood of a capital raise,” —Ryan Brinkmann, JP Morgan analyst […]
Two unrelated events could prove to have a profound impact on Daimler-Benz and the capital city of the German automobile—Stuttgart. Li Khufu, the billionaire owner of China-based Geely automotive, has recently taken a 10% stake in Daimler. The potential impact of such a large Chinese investor in Mercedes-Benz could be significant in the years ahead. The […]
Bloomberg is on the vanguard of accurate and thoughtful reporting on the emerging and powerful trends of self-driving cars. In this recent article, Jess Shankleman succinctly points out why this autonomous automotive revolution is going to happen way faster than the markets (or the public) thinks. The coming transformation will claim victims from airlines to bicycles […]
“It saddens me to say it, but the auto industry is on an accelerating change curve. We are approaching the end of the automotive era. For hundreds of years, the horse was the prime mover of humans and for the past 120 years, it has been the automobile. Now we are approaching the end of […]
2017 has been a blockbuster year of groundbreaking news within the automotive industry. Specifically, new developments in autonomous technologies and electric propulsion have radically changed the automotive landscape. It’s becoming clear that the pace of change is up-shifting far faster than most industry analysts and experts initially modeled. From Intel buying Mobileye to Volvo announcing […]
Philip Richter is President and co-founder of New-York-City-based Hollow Brook Wealth Management, LLC. The Turtle Garage Blog, he says, is dedicated to his "love of excessive personal transportation."
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