I bought a TV and then I got Netflix- I thought this day would never come-
Anyway, thankful for the TV and Netflix. Thank You Jesus for the ultra-luxury 😀
So I started watching Storage Wars – Northern Treasurers because my wife liked it-
After watching the whole season on lot of fast forwards, I drew some investment lessons-
- Never overpay- Just like stocks never pay storages. Price does not guarantee value. Never overpay 😀
- More risk, more rewards. Information asymmetry at work- Lot of mystery boxes, more opportunities for potential treasures and also some garbage- No risk, no reward-
- Patience is the key. Sometimes, the cast go empty handed- They show discipline and do not throw away money- They wait patiently for the right locker-
- Knowledge is power! Older storage buyers had encyclopedic knowledge about many items from furniture to sports equipment. They were able to assess quickly and make good money!
- Specialize! All storage buyers have a specialization ranging from Sports/game equipment to antiques- Specialize because it is a super competitive world!
- Accept failure. You can’t win always. A loss is a lesson. Don’t dump the system because of some losses-
- Play where the competition is low. Good buyers play where there is not much competition and avoid overpaying- Yup, that is why I invest in small cap as well to avoid competition 😀
I really enjoyed the show. It had great investment lessons. And I also learned a lot about
So am I going to be a storage buyer? Probably not. There is already competition and I have no idea how to sell the stuff anyway-
Would I go and buy a locker once? Eh, may be- I just want to see how it goes and get a feeling-
But for now, I will just be happy digging through SEC filings rather than other people’s stuff-
I am thankful for Netflix and the Storage Wars.
Jesus, thank You for great entertainment and good investment lessons 😀 Let us always be thankful and seek Your wisdom ^^