Pay Too Much for everything
I don't agree with most of this. The idea that price equals quality has long been used by merchants to extract money from consumers, not extend value. Sure it's true of some products and some companies, but overall I'd argue that at best, more expensive things aren't close to being relatively better - by any meaningful measure.A $300 meal isn't 10x better - in terms of taste (subjective obviously) or nutrition - as a $30 meal. A BMW 3 Series is a better car than a Ford Focus, but looking only at the practical reasons to own a car, it's not even close to having twice the value.In a lot of cases, brand names bring no value other than the brand. And while that can have a placebo effect, it's not more value. Medicine comes to mind as a great example. You are paying more for marketing and packaging than you are for R&D. The recent thread on memristors even highlighted that R&D costs are 1/100th of total cost, with marketing taking the lion's share.Quality items appreciate while cheap items depreciate? No consumer good should be viewed as a financial investment. If something does appreciate in 50 years, it'll be more about luck than anything else.