I don’t have “get rich quick” schemes.
I kind of have “get moderately well-off, gradually” schemes.
The worst one has been buying shares. I got a tip that shares in Xero (the online accounting software company) would skyrocket. And they did, from about $6 to something like $40. But that was before I got around to buying them. By the time I bought them, they’d dropped to about $25. They subsequently fell to $15. Currently they’re sitting at $18. I didn’t buy a huge number of shares, but I’ll hold onto them for now rather than sell at a loss.
Here’s one of my crazier schemes:
"We all live in a Lego submarine…" ? pic.twitter.com/IFfMnJpOWX
— Daniel Bowen (@danielbowen) December 8, 2016
Before Christmas I spotted this at one of the local toy shops: Lego set 21306: the Beatles’ Yellow Submarine.
Ooh. Alas, I didn’t get it for Christmas, but I thought maybe I’d go buy it for myself.
My mate Josh used to talk about Lego as an investment. Some Lego sets are very limited runs, and over time become quite valuable, especially if in the original box, unopened.
It got me thinking… maybe I should buy two? Keep one for myself; keep the other for, say, five years, and sell it on. I might make my money back, meaning the set I keep is free.
It had vanished from the toy shops. All the toy shops. Chains like Big W and Target had it listed on their web sites, but out of stock. I checked a bunch of them, including checking with a friend who runs a shop that sells Lego. No luck. All gone. No more coming.
But wait! Go above $200 and they waive the shipping fee! The set is $80, so including shipping I could order one for $110, two for $195, or three for $240. So I ordered three.
The sets arrived today.
This may be my silliest investment scheme yet, though even now the set is listed on eBay at a “Buy it now” price of around $120. Who knows if they’re actually selling at that price.
I’ll let you know how it went in about five years.