Financing the Designer Handbag
The designer handbag is an important accessory for many women in Hong Kong.
For some, however, the passion to accessorize outstrips their ability to finance it. The Wall Street Journal recently reported about the rise of certain non-bank lenders that actually offer loans based on the collateral of a woman’s handbag. “Yes Lady Finance Co.” is willing to lend up to 80% of the value of a bag by Gucci, Chanel, Hermès or Louis Vuitton. Sometimes it will consider Prada. While this business is essentially a pawnbroker, pawnbrokers typically target poorer residents and foreign domestic workers. Yes Lady targets the affluent Hong Kong woman who wants to quickly access financing to acquire the latest “must have” bag. And with interest rates well below 10%, what is not to like? In order to get the purse back, the loan must be repaid in four months. Apparently, almost all clients do exactly that. Perhaps by borrowing against another bag?
More Like This...
See another CRM2 blog post that may be of interest to you.
CRM2: The Nexus Approach to our CRM2 Reports
Topic:
CRM2
Excerpt:
With changing securities regulations coming into effect, investment firms are now required to provide individual investors with specific additional in
More Like This...
See another Foundations & Endowments blog post that may be of interest to you.
Charitable Giving Made Easier
Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and
More Like This...
See another Human Interest blog post that may be of interest to you.
The Case for Openness – An Open and Shut Case?
Topic:
Human Interest
Excerpt:
From time immemorial, mankind has been open. Open to new ideas, open to trade, and open to migration – the three critical ingredients for progress.
More Like This...
See another Inside Nexus blog post that may be of interest to you.
Embracing the Golden Years: A Journey of Reflection and Wisdom
Topic:
Human Interest, Inside Nexus
Excerpt:
It was an otherwise slow mid-afternoon trading session on the “old” floor of the Toronto Stock Exchange at 234 Bay St. The dog days of summer had
More Like This...
See another Investments blog post that may be of interest to you.
From Vineyards to Portfolios: Cultivating Long-Term Wealth
Topic:
Investments
Excerpt:
My wife and I have been stymied so far this summer in getting to the Niagara region for our annual weekend of cycling through the vineyards and
More Like This...
See another Pearls of Wisdom blog post that may be of interest to you.
“Work, Work, Work, Work, Work, Work”
Topic:
Pearls of Wisdom
Excerpt:
This has been a busy year. I’ve had lots happening on the home front (a wedding!) and lots going on at the office (too long to list!) Managing work
More Like This...
See another Tax Planning blog post that may be of interest to you.
Saving in my Professional Corporation – It’s a Great Idea!
Topic:
Tax Planning
Excerpt:
The ability for professionals in Canada to incorporate their practice has existed for some time. Doctors, dentists, lawyers, accountants, and other
More Like This...
See another Wealth Planning blog post that may be of interest to you.
Dentists Get Their Financial Check-Up: Nexus attends the 2022 Ontario Dental Conference
Topic:
Wealth Planning
Excerpt:
In early May, we had the opportunity to attend the Ontario Dental Association’s (ODA) Annual Spring Meeting (ASM) in Toronto. Now in its 157th year,
On a Side Note…
See another CRM2 Nexus Notes Quarterly article that may be of interest to you.
No posts found.
On a Side Note…
See another Foundations & Endowments Nexus Notes Quarterly article that may be of interest to you.
Charitable Giving Made Easier
Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and
On a Side Note…
See another Human Interest Nexus Notes Quarterly article that may be of interest to you.
Worth 1,000 Words
Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.
On a Side Note…
See another Inside Nexus Nexus Notes Quarterly article that may be of interest to you.
Where Have All the Boutiques Gone?
Topic:
Inside Nexus
Excerpt:
Many small, once independently managed, firms have fallen into the clutches of larger organizations such as banks, institutional money managers and
On a Side Note…
See another Investments Nexus Notes Quarterly article that may be of interest to you.
Don’t Worry, Be Happy
Topic:
Investments
Excerpt:
A recent article by David Brooks in The Atlantic magazine argues that, despite the heavy shroud of pessimism that envelopes most of our current
On a Side Note…
See another Pearls of Wisdom Nexus Notes Quarterly article that may be of interest to you.
Pearls of Wisdom
Topic:
Pearls of Wisdom
Excerpt:
Reading is one of the principal occupations in our profession. As we digest a wide range of material, interesting ideas and surprising facts – some
On a Side Note…
See another Tax Planning Nexus Notes Quarterly article that may be of interest to you.
A Nexus Feature on: First Home Savings Accounts (FHSA)
Topic:
Tax Planning
Excerpt:
The FHSA is a registered plan to help Canadians save for their first home and could play a role in either your or your adult child’s overall wealth
On a Side Note…
See another Wealth Planning Nexus Notes Quarterly article that may be of interest to you.
From The Editor: Planning for Long-Term Care
Topic:
Wealth Planning, Living to 100
Excerpt:
As part of our Living to 100 series, Nexus hosted a client event in June featuring guest speaker Karen Henderson, an expert in long-term care planning
