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Market correction , will we see any effect on comics?
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477 posts in this topic

20 minutes ago, LordRahl said:

You think so? The median 401K average for the country is $16,500. You think people can't afford to put more than that in a tax advantaged retirement account but are somehow dropping tons of after tax money into the market? 

i believe he is correct. using 2019 figures, the top 10% of americans owned an average of 969,000 in stock. the next 40% owned an average of 132,000. the bottom half owned an average of 54,000. 

62% of american households are invested.

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8 minutes ago, wilbil said:

i believe he is correct. using 2019 figures, the top 10% of americans owned an average of 969,000 in stock. the next 40% owned an average of 132,000. the bottom half owned an average of 54,000. 

62% of american households are invested.

I never said they weren't invested. What I said was if you are not heavily invested or not invested at all. So really, you are talking about 10% of the country being heavily invested. Which tracks perfectly with the fact that high priced books, that are only affordable to the wealthy, are the ones that would get hit.

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15 minutes ago, wilbil said:

i believe he is correct. using 2019 figures, the top 10% of americans owned an average of 969,000 in stock. the next 40% owned an average of 132,000. the bottom half owned an average of 54,000. 

62% of american households are invested.

Also, your numbers from financial samurai would seem to be "flexible" based on which website you believe. Some are saying 53% of Americans have no money in the stock market including retirement accounts. Given how much of this country lives on credit and paycheck to paycheck, I'm more inclined to believe the lower numbers than the higher ones.

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19 minutes ago, wilbil said:

i believe he is correct. using 2019 figures, the top 10% of americans owned an average of 969,000 in stock. the next 40% owned an average of 132,000. the bottom half owned an average of 54,000. 

62% of american households are invested.

I’m in the top third in income alone. Me and my fiancé’s household income I believe is right outside the top 10%. We are pretty far off from owning a million dollars worth of stock. Counting her 401k I think we are like $980k short 

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16 minutes ago, LordRahl said:

I never said they weren't invested. What I said was if you are not heavily invested or not invested at all. So really, you are talking about 10% of the country being heavily invested. Which tracks perfectly with the fact that high priced books, that are only affordable to the wealthy, are the ones that would get hit.

that is word play, but you win. i am a pacifist.

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13 minutes ago, LordRahl said:

Also, your numbers from financial samurai would seem to be "flexible" based on which website you believe. Some are saying 53% of Americans have no money in the stock market including retirement accounts. Given how much of this country lives on credit and paycheck to paycheck, I'm more inclined to believe the lower numbers than the higher ones.

it was not a website. in fact, most blahblah financial websites get their information from u.s. govt. sources, which is what the numbers stated are.

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11 minutes ago, dupont2005 said:

I’m in the top third in income alone. Me and my fiancé’s household income I believe is right outside the top 10%. We are pretty far off from owning a million dollars worth of stock. Counting her 401k I think we are like $980k short 

1 million is not the basis. the numbers are averaged. the assumptions that 1 million is the target for heavily invested is incorrect.

 a family grosses, say, 36k a year. if that family has 6-8k in investments, that is heavily invested for that family. 

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12 minutes ago, wilbil said:

it was not a website. in fact, most blahblah financial websites get their information from u.s. govt. sources, which is what the numbers stated are.

Well someone has to wrong because the first 5 results in a google search have 3 different numbers. If I were to bet on who is wrong, the government would be my first choice.

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1 hour ago, wilbil said:

1 million is not the basis. the numbers are averaged. the assumptions that 1 million is the target for heavily invested is incorrect.

 a family grosses, say, 36k a year. if that family has 6-8k in investments, that is heavily invested for that family. 

You said the top 10% own an average of $969k in stock. It takes about $120k to get into the top 10%, which means they average almost 8 years household income just in stocks. I have a feeling the reason for this average is because the 9%-10% range have closer to 100k in their retirement funds while the top 1%-.00001% have millions upon millions in the market, driving the average up. 

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33 minutes ago, dupont2005 said:

You said the top 10% own an average of $969k in stock. It takes about $120k to get into the top 10%, which means they average almost 8 years household income just in stocks. I have a feeling the reason for this average is because the 9%-10% range have closer to 100k in their retirement funds while the top 1%-.00001% have millions upon millions in the market, driving the average up. 

maybe. my advice is just keep saving as best you can, and use disposable income wisely.

and, follow delekkerste for market navigation. 

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This will pass like other health scares. The market will regain its losses probably sooner rather than later. If I'm an investor "in stocks" I'm less worried about a virus and much more worried about the debt clock and the ever present threat of another debt default crisis like there was in 2011. Another credit rating downgrade like Moodys in 2011. A default on the debt will have the capacity to truly kill this economy! There were people in positions of power that were willing to ride off that cliff. Thankfully not enough but next time around there could very well be enough crackpots and that scares the shiznit out of me and should everyone else!

All the national emergency declarations in the world couldn't contend with such a nightmare .

70% of my investment is direct precious metals or gold ETFs since 2004 when I had just a few dollars I could afford to lose. Only 30% stock related. Everyone should have a chance to hold a bullion bar or 2 in their hands! They are mesmerizing specimens! Smaller than you'd think but beautiful 

Edit: not Moody's it was S&P in 2011 that downgraded 

 

Edited by MGsimba77
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On 3/12/2020 at 10:10 AM, MGsimba77 said:

There's no shortage of disagreement on 2008. For whatever its worth maybe a majority of the older boardies here I've read from claim it was mostly unscathed for comics. I wish I had a better grasp of the situation at the time but I wasn't in a position to be collecting pricey slabs. Keep in mind there may have been a filling out of the census going on at the time.

There was no real impact in 2008-2009, but there was a noted drop during the 2001/2002 dotcom bubble burst. I had sellers consistently say "the book is missing" on non-reserve auctions back then due to the bargain basement prices for a few months. It will be interesting to see how this one plays out - with cons being cancelled with collectors focus more online? If that is the case, eBay and the auction houses will see nice prices.

FWIW, I do not put much stock in January - February auction prices since they tend to be better times to buy to sell at a later time (e.g. July/August).

Edited by kimik
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23 minutes ago, kav said:

If Bruce Wayne had seen a bunch of baseball bats instead of bats when he lost his parents, his name would still have been Batman.

But seriously I thought you wood have gone with woodgod  :foryou:

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