Now you need to worry about home security and probably purchase insurance -- your asset becomes a liability
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Replying to @arthur_affect @FeministaJones and
And the more people who do it, the less profitable it becomes. It's literally impossible for this to work for everyone.
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Replying to @grumpfgrr @FeministaJones and
Yeah investing in any form of collectible is a zero sum game just like the poker table - you can only be right if others are wrong
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Replying to @arthur_affect @FeministaJones and
That much is just as true of any other asset class.
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Replying to @ebdibit @FeministaJones and
Not really. Some assets are productive (rental property, a business that actually sells shit), others are not (gold bars, paintings)
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Replying to @arthur_affect @FeministaJones and
With art in particular new art is constantly being produced and art in general will never become scarce
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Replying to @arthur_affect @FeministaJones and
So buying a painting as an investment cannot be anything other than a bet that this particular painting is currently mispriced
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Replying to @arthur_affect @FeministaJones and
Fair enough. In reference to the underlying asset, however, the statement holds. New art, new businesses, new homes, etc. stay being made.
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Replying to @ebdibit @arthur_affect and
What Jay maybe could have done was to explain this concept in terms more applicable to you and me (assuming, of course, that . . .
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Replying to @ebdibit @arthur_affect and
. . . you're broke like me, give or take a cool Jeopardy mil, lol). But this point could be made with sneakers, or comics.
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Well most ppl buy sneakers or comics bc they actually want them. It's consumption, not investment - investment is an excuse
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Replying to @arthur_affect @FeministaJones and
And saying maybe you should do less of that is fine but it's just the same old "spending vs saving" argument then
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Replying to @arthur_affect @FeministaJones and
I think the more valuable lesson there is that the best investment is the one you understand.
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