It can work - sometimes. e.g. "Velsheda" which came from parts of three daughters' names. Good rule is "would you feel happy shouting the name several times across a crowded marina"? That puts the kybosh on 'The Country Cottage'.
Our boats have all been called "Latest Flame" (from the old Elvis Presley song). Why?, two reasons, because the boat's MY latest flame, and in the words of the song "Marie's the name of his latest flame" - you've guessed it..... the wife's called Marie........well, she calls me her present husband!!