|
Feb 14
|
|
$379.08
$366.43
-3.3%
|
LONG
|
Luigi de Vecchi
Chairman, Capital Markets, Citigroup EMEA
|
De Vecchi observes that while traditional Milanese are reserved ("drive a Fiat 500, not a Ferrari"), the influx of wealthy foreigners is "sometimes flashy" and prone to showing off. The demographic shift from understated local wealth to ostentatious expat wealth creates a new, high-velocity local market for luxury goods. The "flashy" new residents are the exact target demographic for Ferrari and high-end fashion houses. LONG. Milan's transformation into a cosmopolitan "playground" directly benefits luxury conglomerates. Local backlash against gentrification or "flashy" displays of wealth leading to regulatory crackdowns. |
Bloomberg Markets
Why The Ultra Rich Are Moving to Milan
|
|
Feb 14
|
|
$379.08
$366.43
-3.3%
|
LONG
|
Luigi de Vecchi
Chairman, Capital Markets, Citigroup EMEA
|
Milan is attracting wealthy expats due to a flat tax regime and the 2026 Winter Olympics. Real estate is up 38%. Financial firms like Goldman Sachs and Citi (implied via "financial institutions have expanded") are moving personnel there. The influx of high-net-worth individuals drives consumption of luxury goods and high-end services. Ferrari (RACE) and LVMH benefit from the concentration of wealth in Europe. Global banks (GS/C) benefit from the M&A boom and wealth management needs in the region. LONG beneficiaries of the "Milan Boom" (Luxury and Global Banks). Reversal of the Italian flat tax regime in upcoming elections. |
Bloomberg Markets
Wall Street Week | Rattner on Manufacturing, ...
|
|
Feb 13
|
|
$379.08
$366.43
-3.3%
|
LONG
|
Chamath Palihapitiya
Host, All-In Podcast / CEO, Social Capital
|
"There's a Ferrari experience that's different from every other car... In places like China and India, they're always going to have a market." As driving becomes automated for the masses, manual driving becomes a luxury hobby for the ultra-wealthy (similar to horse riding). Ferrari is a Veblen good that retains value and pricing power regardless of the shift to EVs or autonomy. Long Ferrari as a luxury holding, immune to the commoditization of transport. Brand dilution if they fail to execute on their EV transition (though the interior design was praised). |
All-In Podcast
Debt Spiral or NEW Golden Age? Super Bowl Ins...
|
|
Feb 13
|
|
$379.08
$366.43
-3.3%
|
LONG
|
Dave Magers
CEO of Mecum Auctions
|
The auction saw a 1962 Ferrari 250 GTO sell for $38.5 million and a Ferrari Enzo for $18 million. A single collection (Bachmann) of 46 Ferraris brought in over $120 million. Record-breaking auction prices for vintage models act as a massive marketing engine for the modern Ferrari brand. It reinforces the "Veblen good" status of the vehicles, proving that Ferraris are not just depreciating assets but investment-grade stores of value. This supports Ferrari's pricing power and brand equity in the primary market. LONG. The secondary market validates the primary market's exclusivity strategy. A broader economic downturn could eventually impact high-net-worth discretionary spending, though the ultra-wealthy are currently showing resilience. |
Bloomberg Markets
Ferrari's Flying Off the Auction Block for Mi...
|
|
Feb 12
|
|
$391.21
$366.43
-6.3%
|
N/A
|
Finnhub News
|
— |
Finnhub - RACE
If You Invested $1000 In Ferrari Stock 10 Yea...
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|
Feb 11
|
|
$382.96
$366.43
-4.3%
|
LONG
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Robert Frank
Reporter
|
Ferrari is sold out through the end of next year and is launching its first EV (the "Luch") in May with a flexible factory that can toggle between EV, hybrid, and ICE. Unlike mass-market automakers struggling with EV demand (like Ford), Ferrari has scarcity value and manufacturing flexibility. They can pivot production based on actual demand rather than forcing EVs into a reluctant market. Long due to pricing power, sold-out order book, and flexible strategy. Poor reception of the electric Ferrari sound/experience. |
CNBC
Squawk Pod: January’s jobs picture & AI disru...
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