This is a solid indicator that Wall Street is back: super luxury cars are once again in vogue. Bloomberg notes that high-end brands--like Maserati, Ferrari, Rolls-Royce and Maybach--are selling again, as the stigma associated with bankers' spending conspicuously seems to be fading. Sales of cars priced at more than $100,000 are poised to rise 42 percent this year after falling 30 percent in 2009, according to one estimate. Such cars are certainly feel good purchases.

The spurt may reflect some pent-up demand. Many no doubt hope the luxury market in general--especially for real estate--may be on the rise. There's reason for optimism. Earnings so far this year are off to a rousing start. Still, plunking down a big wad of cash may be premature. Earnings will likely be crimped in the later part of the year, as trading profits prove unsustainable. And the new financial reform bill may take a bigger toll than some employees now appreciate. New York City's Independent Budget Office predicts that profits at Wall Street firms will fall to $14 billion in coming years, after hitting a record $61 billion in 2009. That will push profits down to 2005 levels.  

For more:
- here's the Bloomberg article

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