Part 8/10:
His philosophy is straightforward: buy the worst cars at a low price, improve them, and prove they can withstand high mileage, which tends to increase their value. His track record shows that he rarely loses money on cars, except for one Tesla Roadster, which he bought cheaply during early stock-fearing days and sold at a profit—initially but with subsequent market depreciation leading to a small loss.
His approach hinges on strategic buying, enhanced by understanding market psychology and timing. His Tesla stock sold during peak at $320 per share, then reinvested into a Roadster—expecting it to outperform the stock over the long term. Now, he notes that these rare Tesla Roadsters, especially the yellow one, have depreciated but may rebound as collector interest picks up.