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Speaker 1: I'm Matt Miller, I'm Hannah Elliott, and this is Hot Pursuit.

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Speaker 2: All right, we have a fantastic podcast for you today.

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Speaker 2: We're going to touch on Formula one, give you the

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Speaker 2: update on the Ferraris we were talking about last week.

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Speaker 2: But we also have a special guest, recurring guest, Barry Ridholtz.

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Speaker 2: He is the host of Masters in Business, probably our

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Speaker 2: most popular podcast on the Bloomberg platform, and he has

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Speaker 2: a new podcast called At the Money.

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Speaker 3: At the Money ATM plus.

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Speaker 2: Obviously the founder of Ritholts Wealth Management, and he's a contributor.

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Speaker 3: To Bloomberg a lot.

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Speaker 2: So, Hannah, we're going to talk about Formula one because

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Speaker 2: you're preparing to go to Las Vegas. We're also going

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Speaker 2: to talk about hybrid's. I think they're the way forward.

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Speaker 2: You think it's a band aid. There's a lot more

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Speaker 2: sort of econoboxes and grocery getters that I think are

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Speaker 2: really cool though in this space. And then we're going

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Speaker 2: to get to Audi's. You just recently drove the SQ

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Speaker 2: eight E tron, that's correct, and Barry has an R eight.

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Speaker 2: The first car I bought was an Audie and a

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Speaker 2: for Avant.

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Speaker 3: Those have become very collectible now and mine was a

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Speaker 3: two point five, which I loved with so stick shift

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Speaker 3: those have become desirable.

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Speaker 2: All right, Let's kick it off though with Formula one,

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Speaker 2: because I guess what you're getting ready to head out

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Speaker 2: to Sin City, and what do you expect.

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Speaker 4: It's going to be very interesting because when Formula one

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Speaker 4: in Liberty Media, which owns Formula one, entered into this

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Speaker 4: deal with the city of Las Vegas to host the race,

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Speaker 4: it seemed like a home.

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Speaker 1: Run, like a match made in heaven.

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Speaker 4: I mean, it's Vegas, which of course is sort of

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Speaker 4: the party center of the world right now and has

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Speaker 4: a bunch of great professional sports team. We've got hockey,

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Speaker 4: We've got NFL, We're going to get some baseball.

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Speaker 3: The Blagio Win Resorts, the Sphere.

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Speaker 4: Oh, let's not forget the Sphere. There's so much there.

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Speaker 4: And the food's great, you know, all.

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Speaker 3: Of this stuff.

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Speaker 1: There's Jean George restaurants.

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Speaker 4: But the thing is, and you know, Formula one's been

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Speaker 4: doing great in the US, but in the past month

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Speaker 4: or so, it's been really weird because ticket prices have

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Speaker 4: been dropping, both ticket prices for general entry into the

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Speaker 4: Grand Prix hotel room rates have been dropping, and it's

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Speaker 4: kind of creating this feeling that maybe Vegas bit off

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Speaker 4: more than it can chew. It's possible organizers sort of

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Speaker 4: got a little bit too greedy with how they price things,

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Speaker 4: and people are just not having it.

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Speaker 3: That's crazy.

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Speaker 2: So if I decided, you know what, I am going

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Speaker 2: to go see Formula on this weekend and skip the

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Speaker 2: birth of my second daughter, you think I could get tickets.

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Speaker 1: You'd have no problem getting tickets.

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Speaker 4: Now.

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Speaker 1: I will say, you might pay like six.

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Speaker 4: Or seven hundred dollars a night for a hotel room

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Speaker 4: at like the Venetian, but that's pretty typical, and it's

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Speaker 4: actually far less than you would have paid had you

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Speaker 4: tried to get a room a month ago or two

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Speaker 4: months ago. So this is an expensive sport and an

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Speaker 4: expensive city, but compared to what prices were listed at

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Speaker 4: a month or two months ago, you're gonna get a deal.

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Speaker 4: And there's plenty of tickets to go around. There are

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Speaker 4: plenty of flights from La to Vegas.

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Speaker 3: So barry when you when you go. You know the

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Speaker 3: problem with Formula one is you know you're in a corner,

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Speaker 3: You're watching the cars go by. It's not. I know,

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Speaker 3: it's very visceral and very exciting feeling moments. That's the

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Speaker 3: best part. But then you're there for another four hours

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Speaker 3: and it's a sport that's so great on television. It's

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Speaker 3: very comfortable. You really can see stuff. Everyone should go

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Speaker 3: do it once. I don't know if I need to

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Speaker 3: do this in Vegas. And the thing I'm wondering about

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Speaker 3: how much of this is specific to Las Vegas and

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Speaker 3: how much of this is just Hey, the economy is

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Speaker 3: moving along, inflation is coming down, but we're starting to

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Speaker 3: slow down. When you look at what's going on with

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Speaker 3: auction prices of used cars nine eleven, Ferrari's whatever, or

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Speaker 3: even watches. Everything seems that had round up in twenty

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Speaker 3: and twenty one and twenty two, it's all softening. I

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Speaker 3: wonder if this is a broader macro concern.

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Speaker 1: I think that's a really interesting point.

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Speaker 4: And we talked about this Ferrari last week, this Ferrari

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Speaker 4: two fifty gto that was going to go on sale,

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Speaker 4: and to your point, Barry, yes, it sold this week

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Speaker 4: for almost fifty two million dollars, but that was actually

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Speaker 4: far less than arm Sotheby's had hoped to get for

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Speaker 4: the car, and they were saying, you know, in excess

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Speaker 4: of sixty million. The hammer price on that Ferrari was

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Speaker 4: actually forty seven. So, yes, this is a very expensive car,

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Speaker 4: but relative to where it was supposed to be quote unquote,

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Speaker 4: it's really down. And to your point, Berry, I think

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Speaker 4: this Yolo economy is over.

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Speaker 2: Yeah, we saw this week Bloomberg put out a story

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Speaker 2: prices for Rolex and Pateech Philippe watches, you know, the

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Speaker 2: ultra luxury, super high end watches on the Bloomberg subdal

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Speaker 2: indecks have come crashing down. They were off one point

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Speaker 2: eight percent last month to the lowest level since twenty

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Speaker 2: twenty one. Do you think that's the problem with F

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Speaker 2: one or is the sport too boring? The engines aren't

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Speaker 2: big enough, No one passes.

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Speaker 4: Here's a problem, Max Verstappan, that's a problem. He wins

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Speaker 4: all the time, he's already clinched the title. He's won

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Speaker 4: like seventeen of last twenty races. It's pretty predictable at

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Speaker 4: this point. Even second place is pretty predictable. And the

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Speaker 4: other thing to Barry's point about the TV viewership, This

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Speaker 4: race starts at ten pm Pacific time, which means you're

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Speaker 4: gonna have to be a diehard fan.

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Speaker 3: Whoa watch it. It really is one in the morning

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Speaker 3: East Coast time.

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Speaker 2: I did.

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Speaker 4: There are not many people who are going to be

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Speaker 4: up at one am in New York.

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Speaker 1: I don't think to watch this race.

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Speaker 3: You can always watch it the next day on the replay.

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Speaker 2: Yeah. I mean, I'm a huge fan of Moto GP,

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Speaker 2: as you know, because it's a far better sport. I

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Speaker 2: mean there's a lot of passing, there's a lot more strategy,

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Speaker 2: you have tons of different winners, And I just have

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Speaker 2: a subscription to MotoGP dot com and then I watch

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Speaker 2: it after the race is over because it was inevitably

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Speaker 2: in Indonesia, and then it doesn't come on until you know,

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Speaker 2: like eight in the morning on a Sunday.

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Speaker 3: I'm not up at that point.

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Speaker 2: I think it could be a bunch of different factors

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Speaker 2: from an economy that's slowing down to max for staff

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Speaker 2: and winning every time. But are we still going to

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Speaker 2: see like is Brad Pitt gonna go? Is like Puff

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Speaker 2: Daddy gonna go? You know, are all the celebrities going

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Speaker 2: to be there and having like fifteen thousand dollars dinners?

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Speaker 1: Yes, I think so maybe more interesting than Brad Pitt.

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Speaker 4: David Beckham will be there. I don't know if you've

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Speaker 4: seen the latest Beckham nothing more right, Yeah, I thought

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Speaker 4: it was so good. I mean I'm a big Victoria

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Speaker 4: Beckham fan after that. But yeah, Shack will be there,

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Speaker 4: There will be celebrities there. It's going to be fun

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Speaker 4: no matter what. How can you not have fun in

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Speaker 4: Las Vegas? And I will say organizers are saying that

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Speaker 4: they're expecting record revenue regardless of anything. They're on track

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Speaker 4: to quote unquote sell out of tickets. This is what

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Speaker 4: they're telling us. So it's still gonna be great. It's

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Speaker 4: gonna be great fun. Anyone who's going should really pack

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Speaker 4: their coats though. It's gonna be pretty.

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Speaker 3: Cold in Las Vegas.

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Speaker 4: Ten o'clock in the desert in November is cold, true desert.

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Speaker 2: Yeah.

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Speaker 3: Yeah.

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Speaker 2: If you go to Vegas and you can't have fun,

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Speaker 2: you're not doing it right. Do you like Vegas?

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Speaker 3: Berry? No? I can't stand it, but I mean for

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Speaker 3: a couple nights with Yeah, if I have to this,

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Speaker 3: great restaurants, great shows, but not my first choice of destination.

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Speaker 3: When they finally nuke that part of Nevada, you know

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Speaker 3: in the whole area is just silicon glass. It'll be fine.

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Speaker 3: I went to Lamborghini driving school there. That's a different story.

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Speaker 3: You know. You can you can rent a World War

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Speaker 3: two spitfire and go up with a pilot. That's worth doing.

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Speaker 3: And Vegas is the only place that I'll let you

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Speaker 3: sign off and say sure, I'll take my life in

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Speaker 3: my hands in a eighty year old World War two plane.

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Speaker 3: Let's go.

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Speaker 2: I'd like, you can't do that anywhere in the desert, right,

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Speaker 2: go Vegas, Sign up, Vegas.

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Speaker 4: That all counts as Vegas, though, Yeah, I guess this

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Speaker 4: is a lot more than just the strip.

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Speaker 3: I mean totally agree.

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Speaker 1: Driving out to the Hoover Dams really cool.

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Speaker 4: And I do think sort of dusty hotels where Elvis

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Speaker 4: played and Sinatra are really cool. There's amazing off roading

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Speaker 4: out there. All of that to me counts as a

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Speaker 4: quote unquote Vegas.

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Speaker 1: When I go. There's fabulous shopping too.

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Speaker 2: One hundred percent all right, change. I don't go to

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Speaker 2: casinos at all. I don't hang out on the strip.

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Speaker 2: I don't gamble. That's the part of Vegas. I hate

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Speaker 2: everything around that is really interesting fun. Yeah, you want

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Speaker 2: to wake up married to somebody.

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Speaker 3: You have no idea her last name. You know, apologies

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Speaker 3: to my wife, your pregnant wife. You're very pregnant.

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Speaker 2: Let's move on to well and her favorite car is

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Speaker 2: the Volvo XC ninety T eight, which is a hybrid.

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Speaker 2: You know, you can go twenty miles or more on

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Speaker 2: the battery alone, and so for doing things around town,

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Speaker 2: dropping kids off at school, going to the grocery store,

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Speaker 2: no problem, and then you can go on longer trips

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Speaker 2: cause has a gas engine.

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Speaker 3: That kicks in. It's beautiful design. I have to agree

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Speaker 3: with her on that, especially that interior.

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Speaker 2: And Barry, you sent me and Hannah an email this

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Speaker 2: morning about a Toyota Camry that's only going to be sold.

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Speaker 3: Right right, they're giving up the gas only. Listen. The

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Speaker 3: crazy thing about Toyota is they have this massive lead

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Speaker 3: in hybrid technology, and you were waiting for what they're

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Speaker 3: going to do next. Then you know, they kind of

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Speaker 3: let Tesla eat their lunch. But what Toyota is telling

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Speaker 3: us is the immediate future, the next decade is going

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Speaker 3: to be hybrid. And obviously Tesla doesn't have any hybrid vehicles.

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Speaker 3: They're fully electric.

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Speaker 2: That annoys me because I can never find a place

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Speaker 2: to charge, and I like to have a little moto vibes. Hannah,

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Speaker 2: you don't think that hybrids are the way forward though.

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Speaker 1: I am not a fan of hybrids just because I

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Speaker 1: tend to be a purist.

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Speaker 4: I want to go all in, all or nothing, and

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Speaker 4: I love the of course, the quick performance of electric vehicle,

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Speaker 4: and I love my own personal internal combustion cars. So

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Speaker 4: hybrids have always seemed to me to just be like

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Speaker 4: halfway but nowhere anywhere.

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Speaker 1: Who cares?

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Speaker 4: If you know, Toyota was making a Prius because also

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Speaker 4: BMW was making the I eight, and.

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Speaker 3: Well, I love the I eight, dude.

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Speaker 2: The I eight and the I three, to me, were

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Speaker 2: when I first understood why it's cool to have a

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Speaker 2: range extender motor right because they were fully electric vehicles,

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Speaker 2: but they just had a little I think it was

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Speaker 2: a one three three cylinder as like a utility pack.

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Speaker 3: It's like bringing along a backpack. It's like being a prepper.

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Speaker 3: You know, you always have an option if you need it.

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Speaker 3: My wife's Panama hybrid. We drove to Connecticut this weekend.

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Speaker 3: We got nearly forty miles a gallon on the way there.

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Speaker 3: We exhausted most of the electric for that range, but

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Speaker 3: when you drop your right foot you still have over

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Speaker 3: five hundred horse power and that car really goes when

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Speaker 3: you wanted to go. So to me, it's the best

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Speaker 3: of both worlds. Almost forty miles a gallon on one

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Speaker 3: hundred mile trip into the woods in Connecticut, and somewhat

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Speaker 3: less on the way home without any electra.

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Speaker 2: You know, I always say there's no replacement for displacement,

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Speaker 2: but I think batteries might be that replacement. I'm driving

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Speaker 2: right now, a Kia Sorrento PHV. And aside from all

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Speaker 2: the other stuff that's impressive about it, and there's a

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Speaker 2: ton of stuff, it's got a locking center diff It's

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Speaker 2: got this really cool technology where when you put your

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Speaker 2: turn signal on in your center display, you can see

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Speaker 2: your blind spot and in fact.

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Speaker 3: All of the Hyundai Kias do that. You signal right

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Speaker 3: and it shows up in yours, and you signal left

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Speaker 3: and it shows up in your left dial. That should

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Speaker 3: be a standard technology across the whole.

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Speaker 1: Industry and any luxury automotive.

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Speaker 3: Okay, well, but for Akia, I think it's really cool.

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Speaker 2: I mean, for Akia, it's got torque vectoring, all wheel drive.

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Speaker 2: That's not something you expect when you're buying a Korean car.

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Speaker 2: But I thought the engine was more substantial than it

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Speaker 2: was when I first started driving it.

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Speaker 3: I hadn't read the specs.

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Speaker 2: I popped open the hood and I saw it's got

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Speaker 2: a one point six leader in line four. Like, that's

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Speaker 2: a tiny little motor, but it still has two hundred

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Speaker 2: and sixty horsepower two hundred and sixty pound feet of

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Speaker 2: torque for you know, fifty thousand dollars for the fully

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Speaker 2: loaded like most luxurious addition.

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Speaker 3: That's pretty peppy. It's a lot of truck for the money.

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Speaker 3: And look the way every one of these new manufacturers

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Speaker 3: that are trying to gain traction or expand their footprint

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Speaker 3: find an audience is by offering a lot of value

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Speaker 3: for the money. Think back to the way Honda did

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Speaker 3: this forty years ago, or the way Toyota did it

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Speaker 3: sixty years ago. So, Hannah, do you ever drive like

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Speaker 3: a Kia?

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Speaker 2: Because I always think, you know, you're the one who's

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Speaker 2: constantly in a cullin in, But do you ever drive

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Speaker 2: like a Korean car?

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Speaker 1: This is true.

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Speaker 4: Typically no, I will openly say we do not cover

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Speaker 4: typically Kia at Bloomberg Pursuits. However, I did recently drive

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Speaker 4: the Kia EV nine, which is their big electric suv.

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Speaker 3: I want to try that.

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Speaker 4: I really really liked it. I was surprised at how

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Speaker 4: beautiful and well thought out it was. I actually really

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Speaker 4: would love to go visit the factory in South Korea.

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Speaker 4: I'm going to try to do that next year because

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Speaker 4: Kia is really making a play to elevate themselves so

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Speaker 4: that they could potentially have shoppers cross shopping between like

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Speaker 4: Volvo or land Rover into Kia or even Audi. And

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Speaker 4: I don't think that's out of the question based on

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Speaker 4: what I've seen. We joke about it like typically I

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Speaker 4: wouldn't cover it, but the limited amount of Kia products

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Speaker 4: that I have seen and driven, I actually am pretty

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Speaker 4: impressed by.

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Speaker 1: And let's not forget this is a company that also

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Speaker 1: makes Genesis.

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Speaker 3: I was about to bring that up. Kia is owned

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Speaker 3: by Hyndi. Genesis is their version of Lexus versus Tayota doing.

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Speaker 1: They know what they're doing. One question, though, do you

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Speaker 1: read the new Kia logo as nine inch nails?

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Speaker 2: I love it.

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Speaker 3: I love the way it reminds you of nine inch nails.

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Speaker 3: That's hilarious. I'm on board with that.

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Speaker 2: By the way, I think that the new logo really

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Speaker 2: helped them transition their brand a little bit from being

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Speaker 2: kind of a bargain basement, you know, Korean econobox, to

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Speaker 2: being something that people really would cross shop with.

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Speaker 3: A Range Rover.

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Speaker 2: I mean, the teil You Ride is a beautiful car.

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Speaker 2: I don't love the powertrain, but the logo I think

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Speaker 2: helps a lot.

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Speaker 3: It looks really cool.

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Speaker 1: I agree.

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Speaker 4: I'm with you about it's an attitude of beautiful hospitality.

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Speaker 4: And I know that sounds like a PR line, but

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Speaker 4: it actually is true that some of their vehicles really

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Speaker 4: have this beautiful sense of a welcome environment.

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Speaker 3: Actually throwing a V eight once in a while. They

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Speaker 3: need to make a big halo car. There are no

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Speaker 3: more V eights coming out, and they're certainly coming out

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Speaker 3: for mass production.

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Speaker 2: I just think they need to make a halo car

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Speaker 2: so that people can then feel okay buying the lower

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Speaker 2: end models.

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Speaker 3: That is age old school marketing. That's just not how

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Speaker 3: it's done. We're going to give you a lot of

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Speaker 3: car or truck for the money. Yes, it's only a

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Speaker 3: V six, but you can tow. You could stick six

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Speaker 3: people in the car. You could load it up with

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Speaker 3: luggage and it's not going to close you an normoral

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Speaker 3: leg That's the value proposition for these cars versus the

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Speaker 3: cars that we really have grown up loving, the BMW's,

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Speaker 3: the Mercedes, the much bigger and more expensive cars.

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Speaker 2: Okay, I'm just saying, like, if Audi had never made

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Speaker 2: the quatro and one races with it, if they had

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Speaker 2: never made the R eight that everybody drools over in

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Speaker 2: fifty shades.

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Speaker 3: Of gray, I don't know that we'd be buying, you know,

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Speaker 3: the Q three either.

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Speaker 2: And by the way, speaking of that, both of you

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Speaker 2: have a connection to Audi because Hannah you are test

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Speaker 2: driving some version of their e Tron.

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Speaker 3: Barry you of course have the Ra. But Hannah first

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Speaker 3: tell us about the ev that you drove.

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Speaker 4: Okay, so yesterday I drove the s Q eight e Tron,

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Speaker 4: which is basically it's sort of a higher performance version

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Speaker 4: of the Q eight, which is a five passenger sub

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Speaker 4: It's all electric, starts at about ninety thousand dollars, and

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Speaker 4: it was beautiful. The you know, Audi has been a

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Speaker 4: little bit behind when it comes to offering electric vehicles,

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Speaker 4: and they're making they're trying to make up for lost time,

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Speaker 4: and so anything with E Tron at the end is

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Speaker 4: there electric offering. The SQ eight, despite its confusing name,

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Speaker 4: was really nice. It was beautifully appointed inside. It was

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Speaker 4: as quiet, actually proven by Audi, as quiet as an

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Speaker 4: a sedan, really nice balanced.

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Speaker 1: It's heavy. It's like a six thousand pound suv, so

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Speaker 1: you do feel that a bit.

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Speaker 3: Some people like it heavy. Don't forget not if you

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Speaker 3: have to make a chanudgment.

350
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Speaker 1: There's no judgment.

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Speaker 3: I like it. I like a big heavy cruiser.

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Speaker 1: Well, we love that.

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Speaker 4: We love that, and this did feel really nicely insulated

354
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Speaker 4: and solid. And I actually have a friend who's been

355
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Speaker 4: looking for an electric suv, and I instantly messaged her

356
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Speaker 4: and said, I think you're really gonna love it.

357
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Speaker 3: A good looking truck.

358
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Speaker 2: I drove also the Q eight Etron, not the S version,

359
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Speaker 2: but I'll say that I was dis pointed that they

360
00:17:00,760 --> 00:17:03,520
Speaker 2: use the Q eight Moniker, because I think the Q

361
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Speaker 2: eight is one of the best designs Audi has come

362
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Speaker 2: out with in at least a decade. It's a head

363
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Speaker 2: turner whenever I see a real Q eight on the road,

364
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Speaker 2: and the E Tron version is not a real Q eight.

365
00:17:14,880 --> 00:17:17,680
Speaker 2: It doesn't look as cool. It's more invisible, Like you

366
00:17:17,720 --> 00:17:21,400
Speaker 2: can easily overlook the e Tron version, whereas the full

367
00:17:21,480 --> 00:17:26,119
Speaker 2: fat gas Q eight it's so hulking and muscular that

368
00:17:26,200 --> 00:17:30,000
Speaker 2: you can't overlook it. But it is definitely solid. That's

369
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Speaker 2: the word I would use for it, like it is

370
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Speaker 2: a product that you feel like is over engineered and

371
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Speaker 2: is not going to break down. What do you think,

372
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Speaker 2: Barry about Audi's I mean, you have obviously the Halo car,

373
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Speaker 2: but what do you think about the brand and the

374
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Speaker 2: other vehicles.

375
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Speaker 3: You know, it's full time all wheel drive, and if

376
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Speaker 3: you're in the part of the country where you're very

377
00:17:56,200 --> 00:18:00,200
Speaker 3: much dealing with weather or or you're off road, they're

378
00:18:00,240 --> 00:18:05,200
Speaker 3: great for that. They're notoriously expensive to repair. They're they're

379
00:18:05,320 --> 00:18:11,000
Speaker 3: not the lowest cost maintenance Comparatively, you buy a Honda Toyota,

380
00:18:11,560 --> 00:18:14,400
Speaker 3: you put gas and occasionally oil into it, you're good

381
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Speaker 3: for a bajillion miles. Some the German cars tend to

382
00:18:18,520 --> 00:18:22,680
Speaker 3: be a little more finicky. My experience with Audi's and BMW's,

383
00:18:22,760 --> 00:18:26,320
Speaker 3: you have to build a little bit of a repair buffer,

384
00:18:26,440 --> 00:18:29,440
Speaker 3: especially if you're looking for a thirty thousand mile car,

385
00:18:29,640 --> 00:18:33,160
Speaker 3: like I know, you're hunting for They're not terrible. It's

386
00:18:33,240 --> 00:18:35,760
Speaker 3: not you know, you speak to people with you know,

387
00:18:36,440 --> 00:18:38,840
Speaker 3: British cars or even some of the older Ferraris, and

388
00:18:39,359 --> 00:18:42,760
Speaker 3: you're writing big checks to your mechanic. But they're great cars.

389
00:18:42,800 --> 00:18:45,680
Speaker 3: They're well designed, they hold up well, and I know

390
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Speaker 3: lots of people who have Q five's with you know,

391
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Speaker 3: two hundred thousand miles on them.

392
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Speaker 4: Well, I think I have to say just a little bit.

393
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Speaker 4: I think that German engineering has a pretty good track

394
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Speaker 4: record for sure ability, and it's a little unfair to

395
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Speaker 4: compare them to British and Italian engineering.

396
00:19:03,480 --> 00:19:03,880
Speaker 3: Agreed.

397
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Speaker 2: I've never had a problem. I had an Audi for

398
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Speaker 2: a long time, never had a problem with it. If

399
00:19:08,000 --> 00:19:11,000
Speaker 2: you have a repair, it'll cost me a long time.

400
00:19:11,119 --> 00:19:14,159
Speaker 3: Never had a problem with my sl was bulletproof until

401
00:19:14,280 --> 00:19:16,359
Speaker 3: you had to replace the coils. You had to do something,

402
00:19:16,840 --> 00:19:20,800
Speaker 3: and it's not an inexpensive repair. Just brace yourself.

403
00:19:21,080 --> 00:19:24,760
Speaker 4: I'm sensing that Barry will always choose the practical option,

404
00:19:25,280 --> 00:19:29,640
Speaker 4: the very solid practical you know you don't.

405
00:19:29,640 --> 00:19:34,560
Speaker 3: Like it's totally practical, like the six convertible manual, the

406
00:19:34,680 --> 00:19:37,000
Speaker 3: most practical. No, I don't think so, dude.

407
00:19:37,000 --> 00:19:39,040
Speaker 2: He has a C two and he bought a nine

408
00:19:39,040 --> 00:19:41,240
Speaker 2: to eleven that he sent to be converted into an EV.

409
00:19:41,760 --> 00:19:43,760
Speaker 3: Yeah, in the middle of that, that's a fun project.

410
00:19:43,840 --> 00:19:46,840
Speaker 3: These are not cheap cars, but they are if you're

411
00:19:46,880 --> 00:19:50,760
Speaker 3: buying them twenty five years old. That's why I say,

412
00:19:51,119 --> 00:19:54,080
Speaker 3: you have to have a reasonable repair. Do you have

413
00:19:54,119 --> 00:19:55,000
Speaker 3: to set aside a budget?

414
00:19:55,080 --> 00:19:59,160
Speaker 2: So I, by the way, I wanted, as longtime listeners

415
00:19:59,200 --> 00:20:03,359
Speaker 2: will know, I really wanted to get BMW seven sixty

416
00:20:03,480 --> 00:20:07,080
Speaker 2: to replace my wife's Volvo, and she has basically said

417
00:20:07,160 --> 00:20:10,239
Speaker 2: no way, Jose, but she is willing to get an

418
00:20:10,440 --> 00:20:13,320
Speaker 2: X five, And so I want the M fifty with

419
00:20:13,440 --> 00:20:17,080
Speaker 2: the twin turbov eight and the ZF transmission. I was

420
00:20:17,160 --> 00:20:20,080
Speaker 2: looking at Savage Geese on YouTube and they have a

421
00:20:20,119 --> 00:20:21,800
Speaker 2: review of it and they were like, listen, if something

422
00:20:21,880 --> 00:20:25,240
Speaker 2: goes wrong with any of the air suspenders on each corner,

423
00:20:25,359 --> 00:20:26,320
Speaker 2: eighteen hundred dollars.

424
00:20:26,440 --> 00:20:28,200
Speaker 3: That happened with my brother and it was much more

425
00:20:28,280 --> 00:20:28,480
Speaker 3: than that.

426
00:20:28,840 --> 00:20:31,320
Speaker 2: His seven say, if something goes wrong with the transmission,

427
00:20:32,040 --> 00:20:34,359
Speaker 2: you know you're looking at a five thousand dollars repair.

428
00:20:34,880 --> 00:20:37,000
Speaker 2: If something goes wrong with the engine, obviously rebuild, but

429
00:20:37,520 --> 00:20:40,639
Speaker 2: they're not cheap to fix. So if you're buying a

430
00:20:40,760 --> 00:20:43,679
Speaker 2: used one. The guy from Savage Geese said, set aside

431
00:20:43,760 --> 00:20:44,560
Speaker 2: ten thousand dollars.

432
00:20:44,680 --> 00:20:45,560
Speaker 3: That's exactly right.

433
00:20:45,720 --> 00:20:49,080
Speaker 2: I'll buy yourself a more substantial extended war Now. Now

434
00:20:49,160 --> 00:20:51,760
Speaker 2: that said, I've had two series, I've had three Series.

435
00:20:51,760 --> 00:20:57,680
Speaker 2: I've had next four bulletproof, never need repairs, absolutely spectacular cars.

436
00:20:58,119 --> 00:21:02,520
Speaker 3: But for example, I had a fuel injection issue with

437
00:21:02,640 --> 00:21:06,400
Speaker 3: them six that kept getting an idiot light. It would

438
00:21:06,480 --> 00:21:09,560
Speaker 3: reset itself, and it was a one of those quirky

439
00:21:09,640 --> 00:21:12,879
Speaker 3: little things that were hard to pin down. Ultimately it

440
00:21:13,000 --> 00:21:15,680
Speaker 3: was BMW who figured out what it was not a

441
00:21:15,760 --> 00:21:18,119
Speaker 3: cheap repair. Very well, that was my only repair I've

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00:21:18,160 --> 00:21:20,600
Speaker 3: had on that car in ten years. What was and

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00:21:20,680 --> 00:21:22,680
Speaker 3: I want to know from Hannah to what was the

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00:21:22,840 --> 00:21:25,280
Speaker 3: first car you ever bought with your own money? A

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00:21:25,440 --> 00:21:29,159
Speaker 3: Chrysler nineteen sixty seven Chrysler three hundred cost me one

446
00:21:29,200 --> 00:21:32,280
Speaker 3: hundred bucks from my uncle. Had it for about a month,

447
00:21:32,440 --> 00:21:36,280
Speaker 3: my mom totaled it nice three hundred trip the tires

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00:21:36,400 --> 00:21:38,840
Speaker 3: at any speed you're doing fifty miles an hour, step

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00:21:38,880 --> 00:21:39,320
Speaker 3: on the gas.

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00:21:39,760 --> 00:21:42,200
Speaker 2: And they've just come out with the last the last

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00:21:42,280 --> 00:21:44,520
Speaker 2: year of the Chrysler three hundred. See with a six

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00:21:44,600 --> 00:21:47,040
Speaker 2: point four liter Hemi in it, which I'm pretty excited

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00:21:47,240 --> 00:21:48,680
Speaker 2: end of the Hemi line to drive it.

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00:21:48,800 --> 00:21:50,880
Speaker 3: Hannah, what was the first car you ever bought?

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00:21:51,520 --> 00:21:55,280
Speaker 4: That was a sixty nine buck Skylark that I paid

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00:21:55,480 --> 00:21:56,680
Speaker 4: also one hundred dollars for.

457
00:21:56,760 --> 00:21:57,879
Speaker 1: I split it with my sister.

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00:21:58,160 --> 00:22:00,760
Speaker 4: We bought it, but a church lady charged just two

459
00:22:00,880 --> 00:22:03,960
Speaker 4: hundred dollars and I was deeply embarrassed of it, and

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00:22:04,080 --> 00:22:06,479
Speaker 4: it sold my half to my sister as quickly as

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00:22:06,520 --> 00:22:06,920
Speaker 4: I could. No.

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00:22:07,520 --> 00:22:08,800
Speaker 3: Yep, but what a cool car.

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00:22:09,720 --> 00:22:10,600
Speaker 1: Absolutely cool.

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00:22:11,160 --> 00:22:14,520
Speaker 4: She was far more advanced think in her thinking about

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00:22:14,560 --> 00:22:16,400
Speaker 4: design and history than I was at the time.

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00:22:16,480 --> 00:22:19,080
Speaker 1: I was so embarrassed of that car, but she loved it.

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00:22:19,400 --> 00:22:21,920
Speaker 3: I think it's I just googled it. Look at this Ferry.

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00:22:22,040 --> 00:22:23,960
Speaker 3: What a cool car, green.

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00:22:24,280 --> 00:22:27,320
Speaker 1: Black interior, you know, beautiful steering.

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00:22:27,160 --> 00:22:31,439
Speaker 3: Not the highlight of American automobile manufacturer. I think it's awesome.

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00:22:31,480 --> 00:22:33,240
Speaker 3: I would like to have one of those today.

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00:22:33,880 --> 00:22:37,800
Speaker 2: I'm my first car ever because my dear late grandmother

473
00:22:37,920 --> 00:22:40,520
Speaker 2: blessed her soul, gave me ten thousand dollars when I

474
00:22:40,560 --> 00:22:43,200
Speaker 2: graduated from college, and I put it on a down

475
00:22:43,280 --> 00:22:47,320
Speaker 2: payment for an Audi a four avauant in the year

476
00:22:47,400 --> 00:22:50,040
Speaker 2: two thousand. I was living in Frankfurt at the time,

477
00:22:50,200 --> 00:22:52,240
Speaker 2: so I got to drive it on the Autobahn. It

478
00:22:52,359 --> 00:22:54,760
Speaker 2: had a two point five liter TDI, so it's diesel,

479
00:22:54,840 --> 00:22:56,640
Speaker 2: but it had one hundred eighty horse power and it's

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00:22:56,640 --> 00:22:59,840
Speaker 2: pretty light, so it really got moving. I could do

481
00:23:00,119 --> 00:23:03,480
Speaker 2: like two top speed twot twenty in kilometers per hour,

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00:23:03,640 --> 00:23:06,440
Speaker 2: so that's like one hundred and thirty miles per hour,

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00:23:07,040 --> 00:23:07,600
Speaker 2: and I did that.

484
00:23:09,400 --> 00:23:09,719
Speaker 4: Doing well.

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00:23:09,760 --> 00:23:11,720
Speaker 3: I was a little older, I was like twenty five,

486
00:23:12,160 --> 00:23:15,160
Speaker 3: and those diesels run forever. Also, those are three hundred

487
00:23:15,200 --> 00:23:18,160
Speaker 3: thousand mile cars. Yeah, that was a great, great vehicle.

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00:23:18,160 --> 00:23:18,959
Speaker 1: What happened to that car?

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00:23:19,080 --> 00:23:20,920
Speaker 2: Mat I had to sell it when I moved to

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00:23:21,240 --> 00:23:24,200
Speaker 2: London a few years later because of the you know,

491
00:23:24,240 --> 00:23:26,120
Speaker 2: because the British drive on the wrong side of the road,

492
00:23:26,200 --> 00:23:28,479
Speaker 2: so it wouldn't have made sense. And also I think

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00:23:28,520 --> 00:23:30,960
Speaker 2: I was broke after a few years and leaded the money.

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00:23:33,480 --> 00:23:36,359
Speaker 2: That does it for this episode, Barry, thank you so

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00:23:36,480 --> 00:23:37,359
Speaker 2: much for joining us.

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00:23:37,760 --> 00:23:38,800
Speaker 3: Real pleasure to have you.

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Speaker 2: I just want to point out that anyone who wants

498
00:23:42,119 --> 00:23:44,520
Speaker 2: to follow me at Matt Miller nineteen seventy three on

499
00:23:44,640 --> 00:23:47,360
Speaker 2: Instagram can do so Matt Miller nineteen seventy three.

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00:23:48,119 --> 00:23:50,520
Speaker 1: My Instagram is Hannah Elliott XO.

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00:23:50,640 --> 00:23:53,560
Speaker 4: I will not be sharing my birth year with anybody

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00:23:53,600 --> 00:23:55,440
Speaker 4: who asks, and it's root of you to ask.

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00:23:55,960 --> 00:23:58,680
Speaker 1: And you can also find me on Bloomberg dot com

504
00:23:58,800 --> 00:24:01,840
Speaker 1: and sometimes on the Rate with Matt and sometimes with Barry.

505
00:24:02,160 --> 00:24:04,840
Speaker 3: Follow me on Twitter at Rid Halts. For as long

506
00:24:04,880 --> 00:24:08,240
Speaker 3: as Twitter hangs on by its fingernails, it's doing a

507
00:24:08,320 --> 00:24:10,800
Speaker 3: full friends start. We're circling the dream. You know, we'll

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00:24:10,800 --> 00:24:11,960
Speaker 3: see what the new year brings.

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00:24:12,280 --> 00:24:15,159
Speaker 2: I guess that's it for hot pursuit that you can

510
00:24:15,240 --> 00:24:17,560
Speaker 2: catch more at the same time, same place next week.

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Speaker 1: I'm Matt Miller, I'm Hannah Elliott, and this is Bloomberg