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Dear Fellow Traveler: In the post-2008 era of cheap credit… and impulse… we all have that purchase. The one gathering dust while we judges our financial decisions. Peloton was mine. I dressed it up like a Balloon Dog on Halloween…
Then, I sold it for parts… Never again… As I look at my new house… I remind myself what I won’t do… Buy another $2,000 clothes rack that makes me feel guilty. What else? Let me tell you what I won’t do with my money… 5. The Wine Fridge (For A Non-Existent Wine Collection)Some people buy a 200-bottle dual-zone wine refrigerator because they are “getting into wine.” But their current inventory? It’s three bottles of Barefoot from 2019, a champagne from their wedding, and 14 La Croix. That latter isn’t even booze… That freaking thing will hum constantly, cost $30/month in electricity, and serve primarily as a very expensive nightlight. You expect me to tell guests I’m “building my collection slowly.” I’m not a liar… 4. The Massage Chair$8,000 for what looks like a dental chair that escaped from a mall. It weighs 400 pounds. It requires professional movers. And they’d move it from house to house… Because it’s the world’s worst-looking sunk cost… Enough… The reality is that most owners use it three times - each time remembering why they don’t use it. It feels like being beaten up by a robot with anger issues. Or it becomes the world’s most expensive cat bed. And cats don’t even like it… There’s no sunshine nearby… 3. The PelotonThis is the mistake I made. Nothing else on this list… The undisputed champion of pandemic shame purchases. It was $2,000 for the bike, $44/month for classes I never took, plus the instructor cheerfully greeting my empty room every morning via the screen I never turned on. It’s not just unused equipment - it’s unused equipment that tracks non-usage. The stats actually mock the rider. “Last ride: 387 days ago.” Thanks, I know… you, digital dickhead... 2. The Outdoor Pizza OvenSomeone tried to sell me this suburban delusion. I was quoted $5,000 for a wood-fired oven that takes two hours to heat up, requires special wood, requires constant attention, and produces pizza that is inferior to what any other regular oven can offer. If I’d bought it… I’d have used it three times the first summer. Once for the “reveal party.” Once to justify the purchase to skeptical relatives (Tim would have yelled at me). Once more, trying to convince myself it wasn’t a mistake. Then it would have sat outside forever… And it would have had no resale value… That’s a $5,000 monument to the gap between who someone wanted to be (neighborhood pizza maestro) and who they are (person who orders Domino’s on their phone while looking at their pizza oven). 1. The Air Hockey TableThis is undisputed now. Why in the hell would anyone buy this for their house? Yea, it seemed fun at the store. It’s awesome at the bowling alley that Amelia and I went to… But mother of god… Speaking of lying… “We’ll use it all the time!” an owner says. Reality: They used it twice, lost the puck, bought replacement pucks, lost those, and now it’s a $800 table for stacking Amazon boxes. The best part? It’s too heavy to move and too expensive to throw away. So it will ALWAYS sit there and “come with the house.” It is the definition of a monument to one’s brief delusion that I’d recreate the rec room from my childhood. Spoiler: My childhood rec room also went unused. The Bottom LineIf the government had any justice, they’d nationalize these products and shut them down… These aren’t just bad purchases. They’re architectural monuments to optimism, taking up space while reminding us that we’re not the people we thought we’d become when we clicked “buy now.” At least they’re conversation starters. “Yeah, that’s my pizza oven. No, I never use it. Want to order Chinese?” Stay positive, Garrett Baldwin About Me and the Money Printer Me and the Money Printer is a daily publication covering the financial markets through three critical equations. We track liquidity (money in the financial system), momentum (where money is moving in the system), and insider buying (where Smart Money at companies is moving their money). Combining these elements with a deep understanding of central banking and how the global system works has allowed us to navigate financial cycles and boost our probability of success as investors and traders. This insight is based on roughly 17 years of intensive academic work at four universities, extensive collaboration with market experts, and the joy of trial and error in research. You can take a free look at our worldview and thesis right here. Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.
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