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Payne's Perspective: January 13, 2020: It's All About Flair

By Charles Payne, CEO & Principal Analyst

No one had a better 2019 than Bernard Arnault, CEO of French luxury conglomerate of LVMH. His net worth surged a staggering $34.3 billion, taking him north of $100.0 billion, and now he’s toggling back and forth with Jeff Bezos for the title of the world’s richest person.

What’s amazing is his company doesn’t sell the stuff people need, but the stuff people want, because it gives us that swagger and flair. That ‘pep in your step’ comes from signifying to the world we’ve made it among the upper echelon, and for some folks, it’s ‘fake it till you make it.’

Arriving in Style

Of course, strutting through the mall with a Louis Vuitton “Neverfull Bag” might signal a modicum of success, but nothing says I’ve arrived like showing up in a Rolls-Royce. It’s been my dream since high school when I used to visit the dealership across the street. I’m still dreaming, but to coin a phrase: ‘I’m not the only one.’

Last year, a record 5,152 Rolls-Royce Motor Cars were sold, driven by the larger, more expensive SUV.

To read this week's Payne's Perspective, along with his stock recommendations, contact your account representative or email us at info@wstreet.com.


Charles Payne
Wall Street Strategies


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