| Author | Message | ||
| Stephen Patterson (Srpatterson)
Junior Member Username: Srpatterson Post Number: 178 Registered: 11-2001 |
It will be worth having some shares just to get the annual report. They will probably be as collectible as everything else Ferrari has their name on. | ||
| Manu Sachdeva (Manu)
Member Username: Manu Post Number: 254 Registered: 2-2002 |
I'm buying some (if I can get a look in)... This is NOT a rational decision. | ||
| Marv B (Mdb69)
New member Username: Mdb69 Post Number: 44 Registered: 4-2002 |
Hmm, from a purely investment standpoint, buying Ferrari shares probably isn't the wisest choice. Then again, investing in Ferrari in any measure (buying a car, merchandise, etc) is usually done from an emotional response. Besides, it would be kinda cool to say I own part of Ferrari.  | ||
| martin J weiner,M.D. (Mw360)
Member Username: Mw360 Post Number: 408 Registered: 5-2001 |
May 15, 2002 Turin, Italy * Investors who could never afford to drive a Ferrari now can at least own a piece of the company. Fiat SpA plans to sell shares in Ferrari SpA, the maker of high-performance sports cars, in an initial offering to reduce debt. The world's No. 6 maker of cars and trucks expects to raise as much as 780 million euros ($706 million) this year. Fiat owns 90 percent of Ferrari, whose models are bought by such celebrities as Michael Jordan. Prices of Ferraris range between 129,000 euros ($116,435) and 207,000 euros ($186,838). The company also makes Maserati sports cars. "If you consider how many fans Ferrari has throughout the world, the IPO should be a big success," said Stefano Masullo, chairman of investment advisers Opus Consulting. "I certainly would buy at the right price." Ferrari was founded in 1929 by Enzo Ferrari, a fact Fiat expects will add to the allure of the IPO. Top driver Michael Schumacher was the highest-paid athlete in 2000 with $59 million in earnings, according to Forbes magazine. "It's the right moment for a Ferrari IPO given its position in the championship," said Giacomo Chiorino, a fund manager at Nuovi Investimenti. He doesn't own Fiat stock. Still, Ferrari is less profitable than other European luxury carmakers, analysts said. Its operating profit margin, or earnings before tax and interest as a percentage of sales, was 5.9 percent last year, half of Porsche AG's 12 percent. Bayerische Motoren Werke AG's operating margin was 8.2 percent. "Trophy investments are all very well if you have enough money to not worry about getting a return," said Jeremy Podger, who helps oversee $20 billion in assets at Investec Guiness Flight. He said if he were to invest in Ferrari it would be as a luxury-goods company. Gains in luxury goods shares this year have made such companies as Prada Holding NV and Gus PLC's Burberry more confident about coming to the market. Both plan to sell shares in coming months. Ferrari had a first-quarter operating loss of 18 million euros, compared with 10 million euros in the year-earlier period. Copyright (c) 2002, South Florida Sun-Sentinel This was sent to me by my broker. |