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checklist goes to Vegas, you're all invited & I'll buy

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November 10, 2009 – Comments (19)

Well I'm in Vegas.  Checking out the place, which is as always a huge, interesting, human zoo. 

Last night some friends and I went to the Cat House at the Luxor, it was aggravatingly loud so I left early and crashed.  I really don't dig loud night clubs. 

So today I rented a Ferrari and drove around Vegas until I was thoroughly lost and far over the mileage limit, finally got the thing parked.  It needs an alignment.  Now I need some lunch and then I'm going watch shopping.  And then I'm going to put more miles on the car, I'm sure they are going to hate me when I bring it back. 

I have no frame of reference to know if business is good right now, but it is very busy.  People everywhere, doing everything.  I talked to a couple taxi drivers, a bartender, the usual suspects.  They all commented that business was better than last year but still noticeably down from the years immediately prior.  No big surprise there as Vegas statistics are public information.  Hotel rooms are cheap and they are willing to deal on them, thats clearly a sign that demand isn't super-strong.  I'll keep chatting with the locals about business and so forth.  Last time I got a manger at Wynn to sit down and talk to me about business, he recommended NOT buying casino shares at the time (Jan 2009).  That was good advice at that time.  We'll see what they say this time.

But in any case my fine fellow fools, if any of you happen to be in Vegas and want to meet a very foolish fool, post here & lets get together.  I'll buy for everybody as long as it isn't a strip bar as I just can't dig those. 

I'll post whatever thoughts, perspectives & info I get on Vegas below also.

It is clear that the sense of desperation that hung over the city in January has eased.  In January...  this town would have thrown in a few souls for anybody who wanted a VIP suite or to rent an expensive car.  This time around...  much calmer, much less needy, much lower desperation level.

19 Comments – Post Your Own

#1) On November 10, 2009 at 4:03 PM, cmorr504 (< 20) wrote:

My local lumber guy just got back from Vegas. He called it a ghost town.

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#2) On November 10, 2009 at 4:07 PM, dudemonkey (38.14) wrote:

Love the Cat House.

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#3) On November 10, 2009 at 4:14 PM, APJ4RealHoldings (34.78) wrote:

have fun.  id roll out if I wasnt busy cramming for the CPA.  Any other time, & I'm just a 4hr drive from being there.

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#4) On November 10, 2009 at 4:17 PM, davejh23 (< 20) wrote:

cmorr504,

Was he talking about the strip or the surrounding city?  Try driving to North Las Vegas.  Homes that sold for $400K+ just 2-3 years ago are listed in the low $100K's and are sitting for months...I know of one that's been listed for 18 months with no offers.  There is also a ridiculous amount of vacant commercial space.  It's easy to see how so many banks are failing.

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#5) On November 10, 2009 at 4:17 PM, TMFUltraLong (99.95) wrote:

I'm quite the watch snob/connoissuer/junkie, so if you have any watch questions before you buy, post them here and I'll give you my input

UltraLong

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#6) On November 10, 2009 at 4:51 PM, BravoBevo (99.97) wrote:

About your visit to Cat House, good for you that you're comfortable to not feel compelled to stay and do whatever others are doing when you sense that it isn't beneficial.

Thanks for the kind invite. I will need to pass on your offer. I hope that someone will be able to join you, and that your visit is pleasant, informative and rewarding.

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#7) On November 10, 2009 at 8:10 PM, checklist34 (99.73) wrote:

good luck on the CPA, APJ, thats kind of a big deal.

I don't know if its busy here right now but its sure not a ghost town.  There are people everywhere, every 5 feet on the strip, in every nook and cranny.  Many foreigners.

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#8) On November 10, 2009 at 8:31 PM, checklist34 (99.73) wrote:

Ultralong, thanks...  I seriously appreciate that as I am an utter newbie in the watch world.  I looked over many brands and ultimately decided against a Rolex.

The two watches that I saw that I liked the most were a Breguet and a Ulysse Nardin.  The Breguet had a black rubber band (they said they could also add a leather band), a rose gold finished body with black and white center.  The Ulysse was similar.  Black/rose gold.  They were similar in price.

I'll try to dig up photos or the specific model after grabbing some food. 

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#9) On November 10, 2009 at 11:27 PM, Tastylunch (29.48) wrote:

NOT buying casino shares at the time (Jan 2009).  That was good advice at that time.  We'll see what they say this time.

I dunno man. My casino redthumbs in CAPS from roughly that time period  basically have cost me ~1000 points ( I got greedy and went for one last redthumb round)

Las Vegas Sands in particular is up huge...You could have had  a 5 bagger if you timed it right.

But Wynn is a much better operation so they haven't run as much, so yeah probably not bad to pass on that one.

But in any case my fine fellow fools, if any of you happen to be in Vegas and want to meet a very foolish fool, post here & lets get together

I really appreciate the invite, checklist, you seem like a really good dude and it would be fun to meet a CAPS person in real life.

Unfortunately my new store is only 4 months old. I really don't think I should travel much anywhere the first 18 months or so post launch until it becomes hopefully more self sufficient.. That's the plan anyway.

I'm with ya on the strip bars. Those places are depressing to me.

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#10) On November 10, 2009 at 11:37 PM, TMFUltraLong (99.95) wrote:

checklist34,

Literally all 3 are fantastic watches. Rolex being the more traditional of the bunch they havent wavered to expectations to create bigger watches for years. Their styles have remained predominantly sporty but still classic.

If you're digging a Breguet it most likely has a coin edge bezel with a guillochette dial, im guessing silver or egg shell white, their most common colors. I'd be very curious to see the pictures.

Ulysse Nardin is a great watch as well though id give the nod to Breguet in dial and movement craftsmanship. They do make some very interesting watches though Id gather you're looking more towards a dress watch.

UltraLong

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#11) On November 11, 2009 at 1:03 AM, awallejr (77.23) wrote:

"I really don't dig loud night clubs."

That's because you are turning into an old fart ;p  I had a great Raymond Weil watch that I lost.  Stylish yet not bulky looking.

Try out baccarat while you are there. I would think chartists like Binve and Goodvibe would love that game.  Has always been my favorite.  I have some great stories too,  My favorite was watching some high roller try to play a table solo with a million dollar bankroll.  Naturally he had  a gorgeous babe entourage dealing the 'shoe' for him. I shook my head and said to myself his "chips" will be gone in an hour.  Sure enough he lost it all.  The reason?  Baccarat is meant to be played at a crowded table where you can play streaks.  Aside from card counting blackjack, it is the least house advantaged game.  In the end, it is a "heads or tails" game.

My least favorite memory was my playing at Ceasars in Atlantic City years ago.  I had made up my mind that when the shoe came to me I intended to put $100 up and just let it ride until a player hand won. The cap was $5,000. As a fyi the shoe passes every time a player hand wins. The guy to my left ALWAYS passed the shoe.  Except he took the damn shoe (which would have been mine) and made 17 straight bank hands  which would have been my streak.  Man I was demoralized that weekend.

Have a "scotch drink" on me ;p

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#12) On November 11, 2009 at 1:32 AM, topsecret09 (42.55) wrote:

   I've been living here for the past 31/2 years. Casinos are NOT doing well. You can get a nice room at the MGM for 79.00$ that would have set you back 300.00$ a year or so ago. Take a drive down Flamingo towards Boulder Hwy. You will notice MANY vacant buildings,offices,entire strip malls. Cruise up and down Maryland Parkway,and maybe Eastern to get a small Idea of the economic devastation....  All of these buildings were open for business within the last 2 years...   Drive around and observe,you will see what I mean. U.S Air Is pulling out of the Las Vegas area,Boyd Casinos will not be completing their stalled ECHELON HOTEL PROJECT for at least 5 years..... This Is not going to come back In any meaningful way for YEARS.....  TS

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#13) On November 11, 2009 at 5:32 AM, checklist34 (99.73) wrote:

well for gods sake topsecret, if you live here come drink or eat or whatever, I AM BUYING!!

Awall, I am becoming both an old fart and a permabull buy and hold type, lol. I become less interesting with each passing moment, yet I enjoy my life as much.

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#14) On November 11, 2009 at 8:08 AM, checklist34 (99.73) wrote:

bravo, thanks very much for the kind words.... they played out again this evening when I refusded to head to the nudy bar and everybody else gave up on the idea.

I love girls, I am just not into booby bars.  :) 

I have had problems replying to this thread all day due to connectivity issues, so thanks for hte replies & i hope my own are adequate...

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#15) On November 11, 2009 at 10:42 AM, EnigmaDude (87.69) wrote:

hey check,

Wish I was still there to hook up with you.  I lived in Henderson from 2004-2008 and watched the boom turn to bust.  Returned last year about this time for a conference (Autodesk University) which is happening again this year. It was depressing seeing all the cranes sitting idle on the strip.  My friends who live/work there are seeing the impacts - I got out at the right time!

Check out Green Valley Ranch and the casino there.  Off the strip and a very nice place.  Go to Hanks for a steak. Glad to hear that you are helping to stimulate the economy!  Have fun and be safe...

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#16) On November 11, 2009 at 10:42 AM, hendrixtrader (< 20) wrote:

Just returned from Vegas about 2 weeks ago. Very busy when I was there, but it was my first time, so I have nothing to compare it to. If you havent seen the Beatles Love show at the Mirage, do it now. It was amazing

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#17) On November 11, 2009 at 3:03 PM, checklist34 (99.73) wrote:

well i got the Ferrari back, they eventually made peace with the mileage...

i didn't get a watch yet but i'm heading back over to ceasars now...

will post watch models for ultralong

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#18) On November 11, 2009 at 11:14 PM, Tastylunch (29.48) wrote:

Sounds terrible :)

hope you have a  good time checklist!

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#19) On November 11, 2009 at 11:29 PM, Patrikbc (50.33) wrote:

I have an armitron knock off,of a kenneth cole knock off, which is probably in itself a movado knock off...I'll trade it for a cheeseburger. Ofcourse You'll have to come get it in Lancaster, Pa. We can eat our cheeseburgers, race some amish buggies for pinkslips . I'll tell you my stock picks, and you can tell me that I am clearly stupid. atleast, thats how I imagine it.

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