Quote:
Originally Posted by cardsagain74
I've seen a few posts like this in the last couple weeks and I just don't get it.
The S&P isn't even down this month actually. It's flat. Given the modest inflation fears that have percolated lately (ones that can easily cause a noticeable selloff for awhile), that's an awful strong performance for a market which is 1% off all time highs and that's been on a tear. A tear for not just the last year, but the last 40 years.
I'm not saying that Wall Street hasn't peaked for now. But given how impossibly strong the market continues to be (and the endless flow of 401 k money into it that shows no signs of stopping), good luck calling a top.
As far as sportscards go, as others have said, the overall phases that've happened lately are common. Modern/fad-type stuff/cards with the most extended 20-30x leaps getting hit the hardest. Boring blue chips with great, but not insane gains should hold on a lot better
Funny thing is that if you told someone that their Jordan PSA 10 rookie had gone from 30 k to 300 k in a year and a half (without them knowing that the peak was more than twice that), they still would've thought it was the most amazing thing ever
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I just checked and you're right; I guess after the runup in the past year, treading water feels like a downturn!
I think a lot of the people who have jumped onboard in the past year don't have very strong memories of the 2008 crash or other downturns (not counting the selloff last spring because that recovered so quickly). I see it with my sailors who are talking about getting in to real estate and other investments; they think they only go one direction, up. I've tried warning them that elevator has a down button as well, but if they want to learn from experience, well that's their decision.