Poll - The Stock Market and Vintage Sales

[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.

[Brent G.]

I was out of collecting for 30 years. What changes did you all see during the tech bubble bust of '01 and the housing crash/Great Recession of '07-'12?ish Did spending dry up, did those least affected use it as an opportunity to buy low from those who needed quick cash? There weren't many brick-and-mortar card shops by then, but did it shutter those hanging on?

[Lorewalker]

Voted no because a stock market loss is only a loss if you sell your position. Not the greatest feeling seeing consistent dips but the endless new market highs are also not that comforting.

All markets adjust which gives an opportunity to either buy or sell. I do a lot in real estate and have never made a mistake unless I sell in a panic (which I did once) and can be avoided when you are diversified and have sufficient capital.

I apply this same concept to cards.