MARC HASENFUSS: Ascendis’s car-crash debt
Ascendis CEO Mark Sardi likened the health-care conglomerate to “driving a Ferrari with the handbrake on”
I detest buying cars. Wasteful and costly "assets" — unless you own a well-maintained Dodge Charger (the only car I’ve ever coveted after seeing The Vanishing Point).
But my wife finally eked the last kilometre out of our old VW Touran … and left it for me on the side of the road in Fish Hoek on a very busy Monday morning to drag away. Still, we were told by the dealership more than five years ago that the car was beyond repair. So getting an extra 145,000km (courtesy of the genius mechanic at Joe’s Garage) was a small victory over the auto industry flakes. As a value-inclined investor I’m going for Honda (again). Reliable, unflashy and able to hold its value. Perhaps a little like Afrimat or Bowler Metcalf...