Poll - The Stock Market and Vintage Sales

[Leon]

Originally Posted by G1911

It does at some point, but pulling back a few points off of new all-time high records for a few weeks is nowhere near that point. S&P is still higher than it was 6 months ago, and well over the 5,000 milestone it first hit 1 year ago. Dow is up a couple thousand over 6 months ago, down a couple thousand over 3 months ago. I'm not seeing down 25%, or cause for panic to cut out unnecessary expenses, but at some point there is unfortunately such a time for that.

I understand what you are saying. But it is still a mental-thing to see your account at one number and down a lot (mine is down over 25% as I am all in, on tech).
I am not selling anything but am just more careful on spending too much. Everyone is different. A lot of people, maybe most, aren't sensitive to the market. I still sleep well as only approximately 10% of my assets are in the market. But still.....I look at what pre war cards I could have bought with my on-paper market losses. I could have had a lot of Ruths or Cobbys!

I need to see a card...

[bk400]

Originally Posted by Leon

I understand what you are saying. But it is still a mental-thing to see your account at one number and down a lot (mine is down over 25% as I am all in, on tech).
I am not selling anything but am just more careful on spending too much. Everyone is different. A lot of people, maybe most, aren't sensitive to the market. I still sleep well as only approximately 10% of my assets are in the market. But still.....I look at what pre war cards I could have bought with my on-paper market losses. I could have had a lot of Ruths or Cobbys!

I need to see a card...

+1. There's a large body of research that validates your point. We are fundamentally not 100 percent rational when it comes to most decisions, and losses hit us mentally a lot harder than wins.

[jimjim]

Originally Posted by bk400

+1. There's a large body of research that validates your point. We are fundamentally not 100 percent rational when it comes to most decisions, and losses hit us mentally a lot harder than wins.

Agree!! It’s a lot easier for me to list the ones that got away vs the good deals I have had over the years.

[Exhibitman]

Originally Posted by jimjim

Agree!! It’s a lot easier for me to list the ones that got away vs the good deals I have had over the years.

Plus, why publicize the good ones? Bad deals get you sympathy; good ones just garner envy.

[raulus]

Originally Posted by Exhibitman

Plus, why publicize the good ones? Bad deals get you sympathy; good ones just garner envy.

Or condemnation, if people think you took advantage of the seller.

[Balticfox]

Originally Posted by Leon

But it is still a mental-thing to see your account at one number and down a lot (mine is down over 25% as I am all in, on tech).

Not wise unless you're in your twenties and thus very early in your income earning years. Quite simply, very rarely does one company stay the smartest in the tech business for long. Even Apple had a major downswing for more than a dozen years until the emergence of the internet enabled it to reinvent itself with the iMac.

Originally Posted by Leon

I still sleep well as only approximately 10% of my assets are in the market.

Hopefully you're not including your principal residence and your personal collectibles in that other 90% because one sells those things only in absolute desperation.



Incidentally the buy-and-hold stable oligopolies investment strategy that served me so well for fifteen years went completely to hell in the last fifteen months. I'm now hurting a bit and not happy at all.

[Leon]

Originally Posted by Balticfox

Not wise unless you're in your twenties and thus very early in your income earning years.

Hopefully you're not including your principal residence and your personal collectibles in that other 90% because those are things one sells only in absolute desperation.

I actually like to believe in worst cases, for myself. Worst case is I move into a paid for, really nice house on a few acres, about a mile from where I live....and retire completely tomorrow. And I could live without ever touching my cards, savings or having anything to do with the forum monetarily.
I think I am ok. I give it some thought.
.

[Snapolit1]

A sustained period of a down stock market will eat away at year end or mid year bonuses for a lot of professionals, particularly financial types. I have always assumed that many big purchases are "bonus money" type situations. So I assume anything resembling a real serious market retrenchment will ultimately hit the vintage market hard. Maybe not immediate but it will.

[jbsports33]

I have done much better with lower end stuff the past year than higher end (above say 200.00) - before that selling was stronger for everything. Lower end collections are even selling, affordable cards are strong in both markets vintage and modern. I also see that to continue for the rest of the year. Thanks!

[Yoda]

Just a thought, but if the ultra wealthy are unloading their tech stocks, they are cash rich but immediately wish to put that cash into attractive investments. Why not collectibles, and in particular pre-War and post-War 40's and 50's vintage?

[Johnny630]

Originally Posted by Yoda

Just a thought, but if the ultra wealthy are unloading their tech stocks, they are cash rich but immediately wish to put that cash into attractive investments. Why not collectibles, and in particular pre-War and post-War 40's and 50's vintage?

I think the rich have already sold many of their cards are maybe now are keeping their powder dry for the drop in real estate...Seems Smart to me.

[oldjudge]

Leon-I think your biggest problem isn’t cards but rather the lack of diversification in your portfolio. For most people, especially younger ones, retirement account dollars are not available for card purchases anyway so the two should not be directly related. If one keeps saving regularly these down periods just allow for better long term buys.

[rand1com]

The market goes up and down but if you have plenty of time for recovery, all will likely be fine as the market has been up on 10 year runs for many cycles.