Don't hate me cause I'm an Idiot.

[moosehead]

Full disclosure: I’m the dumbest finance guy you’ve ever met. No really. I suffer from Rivian Problems X 3. One must admit their problems before solving them. So, in the hopes of addressing this affliction, below is a baring of the soul to my internet friends, none of whom I’ve met in real life. Fire away as this is a rather tempting and large target. Flame suit on. If you would please do me the favor of not sharing the below second and third phases with my wife, that would be much appreciated.

Phase I Rivian Problem: Pretty common ailment. Put down advance deposit Fall 2021 for an R1S despite never seeing any Rivian model, let alone sitting in or driving one. Guess it would have been hard to see one before any were made. May have visited Denver RSC a half dozen times or more as it is 5 miles from the house. Hoping to push the family into EV’s as I personally have had a large V8 love affair since the 70’s and have too many dinosaur killing rigs. Despite having the attention span of a squirrel on crack, have watched even the most boring Rivian videos, some the length of a Marvel movie.

Phase II Rivian Problem: Avoided the IPO allotment at $78 and obviously missed the run up to $175. Smugly bought the stock starting at $70, and did so several more times in the $60’s, $50’s, and at my lowest circa $35. No longer smug, just plain stupid. This despite no visible EBITDA, limited revenues, massive over valuations across every asset class, and a heavy burn rate to get an auto manufacturer off the ground including new RSC’s and RAN. Otherwise, I had been a fairly conservative investor and largely avoided the massive growth stock stories and VC style plays. Temporary insanity? Not really, cause I kept gathering nuts multiple times. Now my nuts are crushed. Kicked myself in the groin.

Phase III Rivian Problem: Total lunacy, idiotic, light a pile of cash on fire. I just paid market for an auctioned R1T – and there was no alcohol involved. Tried to justify it since it wasn’t at original nosebleed thresholds of $149k or $129k. What a dumbarse. Seller is laughing all the way to the bank. Yea, could have just waited another 12 months for the R1S, and instead gave away RJ’s pre-March 1 early depositor gift. Well, to be accurate already blew that on more RIVN stock (see Phase II). Yes, vehicles are depreciating assets and we’re in a massive bubble and the Fed is taking away the punch bowl. These are known realities to finance people. Just ignored them all and plowed ahead. There’s still time for this all to go sideways as the seller has yet to receive title. What’s another mistake at this point?

There’s more buffonery. Meanwhile, my son will be learning to drive starting next month. We have no vehicles in the fleet that he should be piloting, so there’s more to come. As an added bonus, Hyundai overtly wants $10-$15K above MSRP for the Ioniq 5. Really, a Hyundai? No offense intended but this aint an Italian supermodel. This last insult may have pushed me over the edge in Phase III, which is another personal problem not being able to control emotions.

Anyone wanna buy a restored and restomodded Wagoneer, or heavily modified S7, or various other bad habits? You should buy from this guy, cause in addition to having a high level of care for my gear, I’m the buy high - sell low type.

My name is Moose, and I have at least 3 Rivian Problems.

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[r1t_kev]

Um, so, congrats on your new truck?

 

[Jac]

I was totally fine with Phase 1. Phase 2 - I get it, you were buying in once the stock price had fallen below the IPO pricing - only a smidge too soon. If you are very patient it may ultimately work out okay. Phase 3 - you lost me Dude. Wow.

 

[Dark-Fx]

There’s more buffonery. Meanwhile, my son will be learning to drive starting next month. We have no vehicles in the fleet that he should be piloting, so there’s more to come.

Buy a used PHEV of some sort. As long as it isn't a polestar 1 or BMW i8. Also, if you really really are an idiot, also avoid anything with a Porsche or Ferrari badge.

 

[frostbit3]

Reading it, it sounds like you did it with cash and not debt, so you're already ahead of tons of people. Now if you went 30K into debt to keep throwing money at RIVN that's a different story, but I'm not seeing an idiot from what I'm gathering, just someone who is okay with paying market price to get a vehicle now vs waiting, and if it's worth it to you then more power to you. It's your money, we all have a worth it vs not worth it breaking point.

 

[RexRemus]

No worries mate, I'm sure we can find several other reasons to hate you

 

[lostpacket]

Hey it's your money, as long as you're not hurting anyone you can spend it in whatever way makes you happy. You don't need any absolution from us forum folks.

But if you'd like you can consider donating a small amount to a local food pantry or something similar. I made a small bit of extra cash from the GME madness in early 2021 and sent some of the proceeds to a few local charities.

Have fun in your new truck! If you were in New England I'd be asking for rides!

 

[Riviot]

My cousin is royalty in Nigeria and could really use your help...

 

[moosehead]

My cousin is royalty in Nigeria and could really use your help...

Pretty sure we're friends. Ask him if he knows Dumbf!*#ery from Denver.

 

[Gator42]

My name is Moose, and I have at least 3 Rivian Problems.

Hiiii Mooooose...

...as a fellow finance/econ professional traveller I feel your pain on timing of purchasing shares. We should get together and market our services as a highly reliable contra indicator index shop.

...and I don't know where you stopped buying but perhaps one day you will be able to mesmerize your descendants on how you bought Rivian below book, got the company for free with some cash thrown in...

On Phase III a bit of perspective is on order. Automobiles are not exclusively rational economic decisions and come with some heaping scoops of emotion. If it makes you happy for years to come you can forget about the premium you paid. Again automobiles are not exclusively rational economic decisions...

 

[COdogman]

If you can afford to and are so inclined, buying the R1T is nothing to feel guilty about. Buy your son a used Volt or Prius, or a new Solterra or Ariya and call it a day.

I’m probably the least qualified person to be analyzing stock purchases, but as long as Rivian‘s price *eventually* does what it should and rises above your purchase prices you will still end up on the right side of that. Just play the long game.

 

[Ravenron]

An idiot? What?!? Then I am too cause you're my hero!!! Congrats on your new truck and consider the stock an investment and wait for it to appreciate. Only thing I might have done differently is hold onto the "pre-March 1st" order, get another R1T when it's ready and sell the one you have now...that way, you get your cake, eat it and recoup your initial purchase (or most of it anyway).

But what do I know...I'm an idiot too! If I hated bikes and cars, I'd be a MUCH wealthier person today...depressed but wealthier!

 

[Robotpedlr]

You could have also switched your R1S order to a R1T and kept your place in line for a delivery later this year.

 

[Picard]

Hi Moose,

You are among friends and yes, many of us here have been through phase 1 & 2 (and trying to keep it from our significant others). Hang in there.

One of these days - we are all going to have to get some professional help courtesy Rivian.

 

[Swilly]

My name is Moose, and I have at least 3 Rivian Problems.
[/QUOTE]

I read this as,
“Hi, my name is Moose and I am a Riviaholic.”

And I responded,
“Hi Moose”.

Rivian Anonymous leader then says,
“Thanks for sharing Moose and welcome. I think that we all have a similar story of how Rivian has negatively impacted our lives, relationships and judgment. But if we just take it one day at a time we can break the cycle.”

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