Stock market is up. Asset allocation = time to sell comics?

[supapimp]

$1 million of what currency, in what country

 

US $ and SF CA. it's for a 7 year home loan.

$1 million in SF gets you what, a small shack?

 

nah. that's HK.

[DR.X]

All this negativity...

 

...the market could have still higher to go.

 

 

It could always go higher. Sometimes its good to just take profits and sit on the sidelines, or just sit on the sidelines period. Theres no good news to sustain this market in my opinion . Alls its going to take is one really bad piece of news and look out. I still want to know with all these bank failures, and shareholders being robbed of their life savings through the sale of derivatives and de-fault swaps why no ones went to jail yet for stealing billions. If I walk over to the Jewel across the street and steal a gallon of milk, I get throw in the shyt hole.

 

DRX

[blazingbob]

The time to start putting money back into the market was the ride down to 6500, not now.

 

All the easy money has been made.

 

 

[DR.X]

The time to start putting money back into the market was the ride down to 6500, not now.

 

All the easy money has been made.

 

 

I agree. My wife bought Ford at $1.58 and sold it at almost $6.00. A little early but it doesnt matter. We've been going to cash over the last week or so. I think this market has seen its run. Just my though.

 

 

DRX

[*paull*]

In several other threads, there've been long discussions on why comic prices have soared in the last few years. One reason discussed being that it was a "hard asset" or "safe haven" or type of diversification away from the stock market since stocks had been doing so bad.

 

It was an interesting hypothesis. If it's true, then we should be seeing hints of it now. Since March, the stock market has not looked back. And continues to show remarkable strength.

 

So have any of you sold books to take advantage of this? Are you going to sell off books in order to reallocate your "portfolio" and put it back into the stock market? Are you starting to refund your 401k's so you'll have less money to buy books?

 

 

If you think this is a possibility, shouldn't you have heavily invested in the stock market back in March? The train has already left the station.

[tth2]

Then again, if I had cashed out on time in 2000 and 2007 and timed my reentry perfectly I guess I would be a lot closer to retiring.

If you were that good, you wouldn't be hanging out on these boards but would be hanging out on some message board for Monet collectors. No one should beat themselves up about not being able to time the market well, because if market timing were easy, most fund managers wouldn't struggle to beat their benchmark averages.

[tth2]

$1 million of what currency, in what country

 

US $ and SF CA. it's for a 7 year home loan.

$1 million in SF gets you what, a small shack?

 

nah. that's HK.

I've been looking at property in downtown SF and it ain't cheap!

[supapimp]

$1 million of what currency, in what country

 

US $ and SF CA. it's for a 7 year home loan.

$1 million in SF gets you what, a small shack?

 

nah. that's HK.

I've been looking at property in downtown SF and it ain't cheap!

 

SF has the most expensive cost per SQ FT in the US, well in the pacific heights area at least. you can get a nice condo in a high rise in the SOMA area though.

[thehumantorch]

In several other threads, there've been long discussions on why comic prices have soared in the last few years. One reason discussed being that it was a "hard asset" or "safe haven" or type of diversification away from the stock market since stocks had been doing so bad.

 

It was an interesting hypothesis. If it's true, then we should be seeing hints of it now. Since March, the stock market has not looked back. And continues to show remarkable strength.

 

So have any of you sold books to take advantage of this? Are you going to sell off books in order to reallocate your "portfolio" and put it back into the stock market? Are you starting to refund your 401k's so you'll have less money to buy books?

 

 

While I'm sure some collectors look at their comics as part of their portfolio, most of us collect comics because we just flat out love them. Profit or loss is tangential to our appreciation for the art form, and the nostalgic feelings they generate.

 

+1 Comics are a hobby.

 

I don't think of them as a hard asset as their value rests solely on the willingness of collectors to pay for them. Selling a comic collection is hard work and there are significant costs associated.

[delekkerste]

SF has the most expensive cost per SQ FT in the US, well in the pacific heights area at least. you can get a nice condo in a high rise in the SOMA area though.

 

San Francisco as a whole:

 

Average Listing Price $1,162,372

Median Sales Price $635,000

Average price/sqft $569

Number of Sales 1,313

 

Pacific Heights only:

 

Average Listing Price $3,621,006

Median Sales Price $1,100,000

Average price/sqft $935

Number of Sales 31

 

New York City as a whole:

 

Average Listing Price $2,013,942

Median Sales Price $960,000

Average price/sqft $1,167

Number of Sales 991

[tth2]

So basically all this stuff about a housing downturn in the US is a myth.

[lizards2]

So basically all this stuff about a housing downturn in the US is a myth.

 

Only in the major cesspools, like SF an NYC.

[the blob]

Then again, if I had cashed out on time in 2000 and 2007 and timed my reentry perfectly I guess I would be a lot closer to retiring.

If you were that good, you wouldn't be hanging out on these boards but would be hanging out on some message board for Monet collectors. No one should beat themselves up about not being able to time the market well, because if market timing were easy, most fund managers wouldn't struggle to beat their benchmark averages.

 

I have/had old fashioned notions about getting 8% or whatever long term in the market. Having been hammered twice now (in my 401K at least, I did fine with my non-401K investments) in 2000 and 2007, so basically twice in my first 10 years of putting into my 401K (and I had no matching), I wonder if I will ever be able to hit that sort of average over the next 20 years when I'm into my late 50s. The key to any sort of compounding is getting that compounding going in those first 10 years and as things stand I barely have what I put in if not less.

 

Of course, I haven't put anything in since 2004, just let it sit there, so I didn't get too burned buying high the second collapse, I just got caught (along with lots of others) with a hefty loss.

 

 

[Comicdey]

I took a hit like most people in the stock market, then got aggressive buying and selling a few good stocks that were cycling. Made back all the losses in a matter of months and now I'm up pretty good. I'm still substantially invested in the market as I bought in a lower price point and it's quite positive. I've been toying with jumping out of the market, accepting my profits, and the potential of missing another upsurge. There will be another 30 percent pullback in the market, it's coming...just guessing when is the issue and from what peak. If you've made a decent percentage profit on your investments, you can always sell, and re-buy on the bump.

 

Comics are for collecting.......buying, selling to buy more, and buying to sell more and all that jazz.

 

 

[JiveTurkeyMoFo]

So basically all this stuff about a housing downturn in the US is a myth.

 

 

Now that's funny....

[Hedge Collector]

SF has the most expensive cost per SQ FT in the US, well in the pacific heights area at least. you can get a nice condo in a high rise in the SOMA area though.

 

San Francisco as a whole:

 

Average Listing Price $1,162,372

Median Sales Price $635,000

Average price/sqft $569

Number of Sales 1,313

 

Pacific Heights only:

 

Average Listing Price $3,621,006

Median Sales Price $1,100,000

Average price/sqft $935

Number of Sales 31

 

New York City as a whole:

 

Average Listing Price $2,013,942

Median Sales Price $960,000

Average price/sqft $1,167

Number of Sales 991

 

Also in the news today - Hong Kong apartment sells for $57 million

 

"...It is believed to be Asia's most expensive property by square foot at nearly $9,200."

[TeddieMercede]

SF has the most expensive cost per SQ FT in the US, well in the pacific heights area at least. you can get a nice condo in a high rise in the SOMA area though.

 

San Francisco as a whole:

 

Average Listing Price $1,162,372

Median Sales Price $635,000

Average price/sqft $569

Number of Sales 1,313

 

Pacific Heights only:

 

Average Listing Price $3,621,006

Median Sales Price $1,100,000

Average price/sqft $935

Number of Sales 31

 

New York City as a whole:

 

Average Listing Price $2,013,942

Median Sales Price $960,000

Average price/sqft $1,167

Number of Sales 991

 

Also in the news today - Hong Kong apartment sells for $57 million

 

"...It is believed to be Asia's most expensive property by square foot at nearly $9,200."

 

Tim ? When I come visit please set up your collection in the outdoor yoga gym for my viewing pleasure.

[the blob]

New York City as a whole:

 

Average Listing Price $2,013,942

Median Sales Price $960,000

Average price/sqft $1,167

Number of Sales 991

---------------

 

These numbers are absulutely not true unless maybe it is just new construction condos in Manhattan (and likely minimum of 2 bedroom), which is hardly "New York City as a whole" (considering Manhattan is only the third largest borough population-wise, dwarfed by Krooklyn and Queens), but rather a small subset of overall sales.

[the blob]

So basically all this stuff about a housing downturn in the US is a myth.

 

delek did not give the 2006 or 2007 numbers.

 

both locations are down somwhat. not as much in NYC as you might expect. i suspect there was simply a lot less speculation going on in manhattan in particular, buildings did not let people put 0% down, many wanted you to live there, did income checks, etc. etc. in other words, unlike miami let's say, you did not have people buying condos pre-construction with the notion of selling them for a profit once they were completed, or at least very little of it. plus there are a lot of transaction costs in NYC that do not make it a great place for flipping properties even in good times. not that a lot of people didn't make a lot of money.

 

(an exception is probably "hip" Williamsburg Brooklyn which saw an abolute explosion in prices, often due to truat fund kids coming in and buying million dollar apartments for them and there was a real delusional aspect to the pricing in this area, which was ghetto 10 years ago.... their parents are not so rich nowadays and prices are down like 1/3)

 

i think SF might have some of the same problems re: flipping and maybe the market there was also geared less toward pure speculation. property there was/is pretty darn expensive though. very little if any compared to prime manhattan real estate $-wise, but, let's say, areas that "feel" like neighborhoods in Queens and Brooklyn tended to be more expensive than their NYC equivalents. the $2 million large Forest Hills home might have been $2.5 - $3 million in a similar SF hood while the $5million prime Manhattan apartment might have only been $2.5 in SF's equivalent.

[delekkerste]

These numbers are absulutely not true unless maybe it is just new construction condos in Manhattan (and likely minimum of 2 bedroom), which is hardly "New York City as a whole" (considering Manhattan is only the third largest borough population-wise, dwarfed by Krooklyn and Queens), but rather a small subset of overall sales.

 

The survey area is Manhattan and does not include the outer boroughs. However, it NOT new construction only or 2+ bedrooms; it is an average of ALL sales. If we were talking new construction condos only, the #s would be considerably higher still.

 

 

New York Summary

 

Average price per square foot for New York NY was $1,167, a decrease of 12.8% compared to the same period last year. The median sales price for homes in New York NY for Jul 09 to Sep 09 was $960,000 based on 991 home sales. Compared to the same period one year ago, the median home sales price decreased 14.3%, or $160,000, and the number of home sales decreased 3.5%.

 

There are currently 9,744 resale and new homes in New York on Trulia, including 212 open houses, as well as 449 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in New York NY was $2,013,942 for the week ending Oct 07, which represents a decrease of 0.2%, or $4,959, compared to the prior week. Popular neighborhoods in New York include Upper East Side and Upper West Side, with average listing prices of $2,832,601 and $1,969,718.