Hedge fund manager too busy to retrieve $160000 Maserati from pound, almost loses car

Discussion in 'Chit Chat' started by ASusilovic, Aug 22, 2007.

  1. Normally belongs to "chit-chat" forum, I know, but this one is really good =>

    Bertrand Des Pallieres, founder of the SPQR Capital LLP hedge fund, said he was so focused on the swings in financial markets that he didn't notice his 80,000- pound ($160,000) sports car had been impounded by London authorities.

    The 39-year-old, who quit Deutsche Bank AG in April to set up the fund, said in a telephone interview he amassed ``thousands of pounds'' in fines from unpaid congestion-charge fees and taxes. Authorities seized the blue Maserati Cambiocorsa in late May. Des Pallieres didn't realize it had been taken until this month. ``I was distracted by the market turmoil,'' said Des Pallieres, who doesn't use the car during the week because he can walk to his office in the St. James's district of London in 15 minutes. ``My assistant at Deutsche Bank used to take care of the road tax.''

    Typically, owners have up to two weeks to claim their car after it has been towed, said Cowen. Unclaimed cars are scrapped or sold at auction. Because this car was so valuable, the Driving and Vehicle Licensing Agency had trouble finding dealers who could handle the sale, Cowen said.

    LOL !! :D :D :D
  2. Not surprising.

    I have an $70,000 BMW for 3 years...
    And I have NEVER taken it in for free service at the dealer...
    Because I might miss one hour of trading.

    Most BMW owners would be shocked at this.

    And my time is only worth $300/hour.

    A large hedge fund manager's time...
    Could easily be worth $10,000/hour or more.
  3. sim03



    Your BMW dealer's service dept. is closed on Saturdays AND doesn't offer (courtesy or nominal fee) pick-up / drop-off service AND doesn't have an after-hours, 24/7 key drop box for service customers?

    So, what do you do for service?

    Funny story, AS. Proving once again that major ADHD is an asset in trading. :p
  4. Surdo


    I find it hard to believe you have not had the oil changed in three years. The car might be worth $10 Grand without an engine soon.

    el surdo sambista
  5. Wouldn't a BSD such as you have an assistant to take his car to the shop?
  6. Actually, I've changed the oil several times at a local garage...
    And the 2004 BMW 330i M edition runs great...
    So everyone can relax.

    BMW is not a car company... it's a Cult.
    They want me to jump through hoops like a trained seal.

    The point is...
    Once you start making a certain amount of money...
    Every businessman views their time as being worth $xxx or $x,xxx per hour...
    And usually makes decisions on that basis.

    So the Maserati guy is not surprising.