CAMPING WORLD CEO PROFITS! RV REPOS, ONLINE RV AUCTIONS! CAUTION!

Recently the $500 Million Dollar Man (CEO Marcus Lemonis) from Camping World sold a big chunk of his Camping World stock. Hmm. Does he know something we don't know? The Wingman presents some questions and offers thoughts on RV Repos affecting your credit score, online RV auctions and suggests proceeding with extreme skepticism.

@campingWorld1

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[rp]

Not only will I ever go into a Camping World store, I even speed up when I’m passing one along the interstate.

[hoss]

Hey Wingman.. That Gentlemen wanting to get rid of his RV, Don't do that.
There's a few things he can do and may make money doing it.
I store my RVs at a campground in Myrtle Beach SC and rent them out. You store the RV there and they set it up and take it down and restore it and charge you a fee which you incorporate into your rental fees. If something goes wrong with it, they have a RV garage and mobile mechanic to fix things, for a fee. I've been doing it for 12 years and I love it.
You can even use it during your slack time and that's when you check everything out and maybe wash and clean them if needed. You can even get them cleaned for a fee.
If he doesn't want to do that, he can always let someone take over the loan or buy it for amount owed. But, never give it up.. That's the lazy way out.
Have a good day and God Bless..

[michaelsullivan]

His net worth did not change. He only changed the asset class of the $2.5 from stock to cash.

[donaldfrazier]

The new rv has a reputation as being poorly built and troublesome warranty repairs it’s why I’m buying a used u haul type of box truck and building my own ! I’ll know exactly how it’s built and I can repair anything that needs it!

[kenmcclow]

The guy with the RV that wanted to give it up should find a consignment store and let them sell it and keep making payments until it does

[angie-xysf]

i dont think he has 10 million left. i would say some of those shares are tied to debt etc. With inflation and people finding out crapy building of RV they stopped buying. RV too expensive for pile of crap you get and rv resorts charging more than hotels. 2024 bye bye rv sales.

[yoyomawh]

Bob, he’s full of Bulsh! Think clearly, what the hell do you need a hi credit score for at your age? you have your house, your car and etc. “Protect the Principal!” Take the small loss NOW! Sell the unit on rv trader or any other sell site. Price the unit to sell at 15%-20% BELOW NADA book price! Then write the bank a check for any deficit 💸, it’s that easy. DONT FORGET TO USE THE EXTENDED WARRANTY AS A SELLING POINT! (Usually $100-200 transfer fee). I’ve been in RV repair for 40 years and this method of accepting a 30k to 40k loss now as opposed to a 250k loss over the life of the loan is what my wealthy clients do. Passing the loan to a family member is a sure fire way to loose a family member. Worst case scenario, tell the bank to come get it! Like I said earlier, at this age what the hell do I need a hi credit score for?

[patriotone]

Never ever buy from Camping World. The CEO can see what’s coming.

[drguyor]

Take a step back and realize that his stock value is different than the cash you get for selling stock. Counting money from sale of stock as additional income is similar to pulling water out of the deep end of the pool and pouring it into the shallow end. It doesn't make the shallow end any deeper. I used to work for a tech company where the CEO took salary as shares of stock, then sold that stock when it was considered a long-term gain to save on taxes.

[davidquizon]

You’re analysis of Lamonis’ net worth is flawed. He did not increase his net worth with the sale of his camping world stock as the stock was worth that 2 million before he sold it. His net worth is unchanged just his liquidity increased the 2 million. Also the timing of the sale around the tax season could be just a function of his tax obligations. Im not a fan of cw but your theory is not sound.

[lyfandeth]

Could be Limonis had $2m in capitol losses, and sold his CW stock at a gain to offset the losses and keep his taxes down.
There's a reason top financial advisors charge more than minimum wage.

[skydancerforever]

What do you know about these defective frame issues going on in the RV industry? Do you watch or follow Liz amazing here on youtube?

[rickmorris]

No CW or ML fan here but, your analysis of net worth is incorrect. His net worth is $500M. He sells $2.5M. His net worth is still $500M unless he gives it away. Also many corporations limit the number of share their executives can own since much of their compensation package is made thru stock options. Once they reach an established threshold, they are required to sell a certain number of shares. I do not know that this was the case here but it could be. At any rate I won't be helping CW's value any time soon.

Your advice to Bob is spot on. One thing Bob could check into is selling to a private party or even a dealer. Depending on how much his down payment was, he will probably still take a financial hit but his credit score will stay intact.

[Frank-James]

If he sells stock that he already owns, it doesn't add to his net worth. It just turns the value of the stocks into cash.

[assessoraudit]

in all my years ive never seen a more useless company than camping world. i wouldn't let them fix my bicycle.

[WindGypsy]

If I were Bob I’d sell it outright and pay as much off as possible. Then pay off the rest as quick as can be.

[prettybadboylagerberg]

I see others have mentioned his net worth did not change just the asset allocation. But, the 20% reduction in his holdings certainly doesn’t suggest he is bullish on the future of CW especially considering it’s such a small part of his overall net worth.

[johnlynch]

We bought what we could afford in cash. It a very nice Coachman Apex. There is no way I would do a 20-year loan on anything.
Hmmm....Selling off stock. Last time I saw this, the "Big Guys" in the Corp were diching their stock. We were told that would be an ethics issue if we did the same. The stock dropped to $3.50 from $131.00. I lost about $10, 000.00 from this.

[randyw]

I just want to make sure I have this right…if I want to pursue a low stress lifestyle, there is going to be some stress involved?

[IAMdave_thecat]

Simple. Executives sell their stock because they have insider information. They buy low and sell high. Simple. When insiders sell, it is a key indicator. Look at the other directors, are they selling too?