I love my one speedmaster I have - a 1977 model I bought it in 2016 off of Ebay for $2075 and then spent about $800 on a service. So around $3K all told. If I had instead spent that money in 2016 by buying 3 bitcoin a selling them at the peak I would have made almost $200,000. So my speedmaster, at its current value of around $5K was not a good investment comparatively, but I haven't lost money on it.
Bitcoin is overrated anyway. Can it time an egg? Labor contractions? Time in flight? NO. Does it look cool like a tritium Speedmaster? NO. And a Speedmaster will never get you indicted for fraud. See, you’re better off.
Timing is everything and there's no way to know in advance whether something is a good investment or not. When it's time to sell then you'll know.
Not entirely accurate. Over the long haul, the U.S. stock market has been a very, very good place to invest, bear markets notwithstanding. As they say, past performance is not a guarantee of future returns, but it’s a pretty damn good indicator.
Personally I wouldn't invest in the stock market now. It's still overvalued and overdue for a MAJOR correction. I doubt we'll see new highs in a very long time. Possibly not in my lifetime. On the other hand, some commodities are looking very attractive.
Given that the average bear market lasts about 363 days and the average bull market lasts about 1,742 days, history - and the averages - are not with you. I’ve been steadily investing in equities for more than 30 years and haven’t found any investment with a better overall rate of return despite years like 2008 and 2022. Your mileage may vary.
Sure but the stock market is artificially inflated like never before in history.
Sure but the stock market is artificially inflated like never before in history.
Speedmaster = non income producing asset with low carry cost, high enjoyment factor and value depending on supply and demand.
Not a good financial asset but certainly a good joy producing one that doesn’t cost much to keep…unlike, let’s say, almost any other fun thing.
Cheers
Given that the average bear market lasts about 363 days and the average bull market lasts about 1,742 days, history - and the averages - are not with you. I’ve been steadily investing in equities for more than 30 years and haven’t found any investment with a better overall rate of return despite years like 2008 and 2022. Your mileage may vary.
Completely agree that over the long haul being invested in the stock market will be a winner, but there have been lengthy periods where after a market decline it takes a long time to get back to that previous high. After a high in Jan 1973 it took until 1985 for investors to get their money back from US stocks in real terms. From a high in Mar 2000 it took 6.7 years to get back to that level, and from another high in Oct 2007 it took until mid-2012. A lot of people now are thinking we are in one of those markets where it all goes sideways for awhile, at least until Nov 2024 when the next election takes place. If your time horizon is long it probably makes sense to dollar-cost average into the market, those whose time frame is shorter should be cautious. I'm now 40% in cash, buying bank CDs which are now paying 5% APR, or solid stocks that pay a strong dividend that can sustain the market turmoil. The market is dead right now, proceed with caution, there won't be much share appreciation in the near future. Cash and dividends are the way to go.
