Quote:
Originally Posted by Snapolit1
I remember when the stock market crashed in 2008, The NY Times ran a piece in its business section about how every ups driver, hair cutter, and taxi driver in America was checking their stock holdings in real time, because the market was roaring ahead and everyone and his brother was getting rich. Everyone was giddy. I remember thinking a few months later that if that wasn’t the bell ringing on irrational exuberance, what was. I should have sold the day that I saw article appeared.
Wonder if someday we look back on this purchase by these three goons … eh, guys …. and shake our head and say “yeah, things got really stupid in 2025….. Was pretty obvious ….”
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I remember starting law school in the late 80s and befriending some MBA students -- and Black Monday occurred just as they were starting the beginning of their business education. They figured their futures were done and that there would be no coming back from that crash. There's no guarantee of where the markets in financials and baseball cards will go in the future, but over the past 50 years, the S & P is up 7.7% annualized after being adjusted for inflation. Over the long term I suspect we'll be ok with our card values, as long as you're diversified and not stocking up on the modern equivalent of tulips.