Ep. 708: One of the Omaha Guys Lays It Out with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Raising the Price to Increase Sales
Luxury goods that's what do about one in fifty comes up with the idea of luxury goods. If it's not a signal to high quality it's a way of bragging to your friends that you have both discrimination and money. Bill Ballhouse was CEO of Beckman Instruments company founded by another eminent Caltech professor. He recognized that the price being low was sending the signal wrong, reverse this can't be very good so he raised the price enormously and sold more units.
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