Quote:
Originally Posted by Exhibitman
I'm gonna go out on a limb here and guess that the people who paid those prices aren't sweating a bear market.
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It's always fun to speculate. And you could definitely be right. Someone who can afford to drop 6 figures on a single piece of cardboard might have 8 or 9 figures sitting in a bank account somewhere, and so therefore they have plenty of cushion, and don't really care what happens to stocks.
On the other hand, they might be living a lot closer to the financial edge than we might assume.
Personally, I tend to go the other way, and assume that whoever is paying this much for cardboard must have lots of assets tied up in the stock market that could be taking a beating now, which might cause them to sweat pretty hard.
A lot of it tends to stem from my general assumption that humans tend to act irrationally and emotionally, and our cardboard purchases are no exception to that general rule, with people buying cards that are a stretch financially, potentially because they are irrationally exuberant about their future wealth because they believe that either their cardboard or their other investments will keep going up in perpetuity.