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November 11th, 2007 at 6:40 pm
Very interesting what you say about spending as much time researching a car as a stock as I never consdidered my similar behavior in that regard. Before I buy a car I always rent it for a week (taking, effectively, an option) so I can really decide if it’s worth the investment. To me, there’s nothing in a brochure or a review that can substitute for actually taking a car and driving it around and putting the kids in it and going to the mall and through the city and sitting in traffic for a few days…
In a very simple way, that is the same way I take up a long option position, I try it first, take it for a test drive, sell a call against a 1/4 positions and see how it goes. If it performs well, then perhaps I make a stronger commitment once I get the “feel” of it.
Come to think of it, it’s also why I didn’t get married until I was 35! 😎