The average boat owning idiot.
 

Thanks, I always did like that 'parable'. I heard it a bit
different, but the lesson's the same.

SBV

"RW Salnick" wrote in message

An American businessman was at a pier in a small coastal
Mexican village
when a small boat with just one fisherman docked. Inside
the small boat
were several large yellow-fin tuna. The American
complimented the
Mexican on the quality of his fish and asked how long it
took to catch them.

"Only a little while, senor," replied the Mexican.

The American then asked, "why didn't you stay out longer
and catch more
fish?"

The Mexican explained that he had enough to support his
family's
immediate needs.

The American then asked the Mexican how he spent the rest
of his time.

The Mexican fisherman said, "I sleep late, fish a little,
play with my
children, take siesta with my wife, stroll into the
village each evening
where I sip wine and play guitar with my amigos. I have a
full life..."

The American interrupted, "I am a Harvard MBA and could
help you. You
should spend more time fishing and, with the proceeds, buy
a bigger
boat. With the proceeds from the bigger boat, you could
buy several
boats. Eventually you would have a fleet of fishing boats.
Instead of
selling your catch to a middleman you would sell directly
to the
processor, eventually opening your own cannery. You would
control the
product, processing and distribution."

"You could then leave this small coastal fishing village
and move to
Mexico City, then LA and eventually NYC where you will run
your
expanding enterprise."

Then the Mexican fisherman interrupted, "but senor, how
long will this
all take?"

The American replied, "15-20 years."

"But what then, senor?" asked the Mexican.

The American laughed, and said, "that's the best part!
When the time is
right, you would announce an IPO and sell your company
stock to the
public. You'll become very rich, you would make millions!"

"Millions, senor?" replied the Mexican. "Then what?"

"Then you could retire, move to a small coastal fishing
village where
you would sleep late, fish a little, play with your kids,
take siesta
with your wife, stroll into the village in the evenings
where you would
sip wine and play guitar with your amigos."


bob
s/v Eolian
Seattle

The average boat owning idiot.
 

"Scotty" w@u wrote in message
. ..
I'm *SO* gay!

SBV


First Ganz now you! TMI . . .

The average boat owning idiot.
 

"Ernest Scribbler" wrote in
message
et...
"Don White" wrote
an ugly yellow boat with purple interior?

It's mauve on gold, I'll have you know...


that is *SO* gay!

SBV

The average boat owning idiot.
 

I own my boat free and clear. I pay $2k annually to park it. I buy a
new sail every 4-6 years @ approx. $2.3K. I spend about $60 a season
for fuel. I spend for $125 for club dues to race. When I decide to
quit I'm sure I can get more for my boat than what I paid for it. I
know people that spend more than that on football. The original
poster's $100k+ boat example pertains to probably 2% of the boating
public.

The average boat owning idiot.
 

"Charlie Morgan" wrote in message
...
On 21 Mar 2007 13:04:09 -0700, lid (Jonathan Ganz)
wrote:

In article ,
Don White wrote:

"Wilbur Hubbard" wrote in message
...
The average idiot buys a boat for say 100K and finances it for ten
years.
He fits it out and keeps it in a slip. The fitting out costs 20K, the
slip
costs 5K per year, the insurance costs 1K a year. Haulout for bottom
paint
1K a year. Fuel 1/2K a year.

After ten years the idiot has spent 250K paying back the loan, 20K
fitting
out, 50K slip fee, 10K insurance, 10K haulout, 5K fuel, oil, filters,
etc.

345K invested in a 100K boat that perhaps can be sold in ten years for
75K. Net loss of 270K. You pay 27 thousand dollars a year to use your
boat
a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard


It's probably all relative...
That so called "average idiot" is probably hauling in well over 6 figures
a
year.
Is it any worse that a washed up retiree pulling in 20K per year on a
Post
Office pension and spending $5K per year on an ugly yellow boat with
purple
interior?
Both are probably spending the same percentage of their discretionary
income
on boating.

I guess I'm not the average idiot, darn it. I paid cash for my Sabre;
thus, no
financing. The upkeep, upgrades, fees, etc. are deductible business
expenses, and I get to go sailing.

My 21 year old boat would sell for about the same as it sold for new.
Cash,
however is not the only measure of value. Sure I've spent thousands every
year
on upkeep, upgrades and marina fees. So what? I've been taking huge
amounts of
value out in the form of enjoyment that more than covers it.

If you bought a car for $25k, drove it for 20 years and sold it for 25k,
would
you consider it a loss because you spent all that money on oil changes,
tires,
and brake jobs? I sure wouldn't. The use I got out of it for those 20
years has
value.

Absolutely. My father was fond of saying: "This isn't a dress rehearsal."
His point being that one lives life or one does not. You can't take your
money with you, and I sure as hell have no great desire to pass it one to my
kid and screw her up.

Max

The average boat owning idiot.
 

"Wilbur Hubbard" wrote in message
...

wrote in message
...
Net loss of 270K. You pay 27 thousand dollars a year to use your boat
a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard

Now Wilbur do the math if the idiot did not purchased a boat.
Show with concrete evidence what happened to the 270K that what not spend
buying and maintaining a boat.


If that sum wasn't spent on something else stupid and useless as far as
investment is concerned it could be invested in something that would give
a reasonable return. Things like land, stocks, bonds, gold(in the last ten
years), If you get a 10% return per anum your 270K will be worth 540K in
ten years. In twenty years it makes you a millionaire. So you trade
millionaire status for the privilege of owning a 100K boat?

That's totally insane. . .

Perhaps not. What will you do with your million? Will you buy a boat but
be unable to enjoy it due to the infirmity of advancing age? Will you pass
it on to your kids, knowing full well that they'll just blow it on $250K
boats? Or will you just sit around and total up your assets, while
wondering why you had such a dull and uninspired life watching TV while
others were out sailing?

Max

The average boat owning idiot.
 

"Lauri Tarkkonen" wrote in message
...
In "Wilbur Hubbard"
writes:


wrote in message
...
Net loss of 270K. You pay 27 thousand dollars a year to use your boat
a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard

Now Wilbur do the math if the idiot did not purchased a boat.
Show with concrete evidence what happened to the 270K that what not
spend buying and maintaining a boat.


If that sum wasn't spent on something else stupid and useless as far as
investment is concerned it could be invested in something that would
give a reasonable return. Things like land, stocks, bonds, gold(in the
last ten years), If you get a 10% return per anum your 270K will be
worth 540K in ten years. In twenty years it makes you a millionaire. So
you trade millionaire status for the privilege of owning a 100K boat?

That's totally insane. . .

Wilbur Hubbard

I do not know what gives you the right to call someone with different
preferences than you an idiot.

Relax, Lauri. You have to know Capt. Neal to understand his tirades.

Max

The average boat owning idiot.
 

"Gogarty" wrote in message
...
In article ,
says...

Long time ago, I bought a small sailing boat, for some amount of money,
my brother in law a financial wizard said: I would not but my money in
boats, I get much better return in buing some stock from the market.

(Snip)

My wife, a former banker, runs the money in this house. She has done very
well
and had huge gains in her portfolios back at the peak of the dot com rage.
I
could see the bust coming. "Sell all," says I, "and buy a Super Marimu,"
which
in those days was going for about $500,000. But nooooo....

Well, we can't afford to buy a Super Marimu today and we don't have the
stocks
either. We would be way ahead had we bought the boat. And having fun, too.

Too bad. The Super Marimu is an outstanding cruiser--fast, comfortable, and
strong as the proverbial brick relief facility . . .

Max

The average boat owning idiot.
 

"Gogarty" wrote in message
...
In article , says...


"You can't take it with you."

We bought our first boat on the way home from the funeral of our best man.
More than tweny years ago. The funeral was on the far end of Long Island
(his
ashes were scattered in Three Mile Harbor) and the yard was on the way
back to
Manhattan.

A funeral is always a reality check, especially when the deceased is someone
close and young. I think a lot of boats have been bought after funerals.

Max

The average boat owning idiot.
 

"KLC Lewis" wrote in message
et...

wrote in message
...
Net loss of 270K. You pay 27 thousand dollars a year to use your boat
a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard

Now Wilbur do the math if the idiot did not purchased a boat.
Show with concrete evidence what happened to the 270K that what not spend
buying and maintaining a boat.


Gee, if it wasn't for all us idiots who actually own these pieces of
floating crap, Captain Kneel wouldn't have a boat to play on at all.
Wonder how many he'll be welcomed on after word of his attitude gets
around the docks.

It certainly didn't take just this tirade to dissuade me from inviting him
aboard.

Max