Is The Luxury Goods Bubble About to Burst?

The first 100 people to use code BOYLE with the link below will get 30% off Friday: AI Writing assistant: https://friday.onelink.me/pQ6X/132iuf8i both on mobile and web! Don’t miss your chance! In March 2023 Bernard Arnault, the chairman and CEO of luxury fashion giant LVMH overtook Elon Musk to become the wealthiest person in the world. He is the only European in the list of top 10 richest people in the world. His wealth has skyrocketed with the massive growth in LVMH’s share price. And it's not hard to see why they’re so profitable. It’s easy to make money when you can sell items of clothing for $5,000. While luxury brands build the perception of having the highest quality of goods, they are not usually any different than the products you would buy at a high street store. Luxury brands are highly sophisticated marketing machines that employ every psychological trick in the book to make you believe the product they’re selling you is worth the astronomical price tag. In today's video we look at who actually buys these goods, if Rolex watches and Birkin bags are actually good investments, and if the Luxury Goods bubble is about to burst. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Video clip on Rolex availability from @TheoandHarris https://www.youtube.com/watch?v=xIKdbAfRZ-0 Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join