When price increases, demand for most goods falls. But not all. There's a class of goods where demand rises with price. These "Veblen Goods" lead to businesses unlike any other.

We use Veblen Goods to signal - we're rich, we're successful, we have something you can't. Companies like Chanel, Montblanc, Rolex, Rolls-Royce, and Supreme have co-opted our need to signal to drive sales of their carefully curated brands.

In this episode, we explore the world of Veblen Goods and take a deep dive into watches. Co-host Steven Dickens shares insights from his 20+ years of watch collecting and opines on watches as an investment.

Check out this week's letter for the full story. Follow @FatTailThoughts on Twitter and your co-hosts @KleeBeard and @StevenDickens3 for more content.