If a market is overpriced, you still need an event that sets off the crash. I don't mean the election of Donald Trump, or the war in the Ukraine, I mean an event that directly affects the financial markets. Some large group of companies or people can't pay - that's when everybody says uh-oh.
If you just look at the balance of the 401K where a worker is working now, you have very little idea of their total financial picture. You have to look at total financial assets across all accounts, minus debt. Then add in any business assets or investment real estate that their household happens to own.
Staying alive is important. There must be 50 new drugs in Phase 2 trials. One of them might be the one.
I know a guy who five years ago would have been dead; today, he has no trace of cancer. His oncologist keeps checking, but they can no long find anything.
Citibank was famous among NYC tech workers as being the most screwed-up bank. It was a paradise for useless and/or conniving employees, and the managers were all empire builders - the more people you have in your department, the more important you are, and they don't have to actually do anything.
My percentage is 0%, because I select my own stocks and invest at Fidelity where there are $0 commissions. I do pay about 30 basis points on uninvested funds, but you have to let them make money somehow.
Looking at sold items, Victor Vignon paintings sold by respectable auction houses like Doyle and Bonhams seem to go in the $3000-7000 range, plus 25% buyers premium. The lesser houses get lower prices, but their paintings may or may not be real.
I am an experienced art collector, and I well know that most of the paintings on eBay are fake. Perhaps JC dodged a bullet, unless he has enough knowledge to be able to evaluate the painting himself. Most of the fakes on eBay are very obvious, but there are good fakes of every listed artist in circulation. Without a catalog raisonne, buyers are flying blind unless they buy vetted pieces with good provenance from an auction house that has a staff of experts - and even those places can make a mistake.
The number for total credit card debt includes many balances that will be paid in full every month. The banks know how much is outstanding, but they can't predict what will be paid when the bills are sent out.
Many well off people charge everything they can to collect points and bonuses. A lot of this loot comes from poor people paying 30% interest. It's an interesting system, to say the least.
Comments:
If a market is overpriced, you still need an event that sets off the crash. I don't mean the election of Donald Trump, or the war in the Ukraine, I mean an event that directly affects the financial markets. Some large group of companies or people can't pay - that's when everybody says uh-oh.
Post: Look Both Ways
Link to comment from January 13, 2025
If you just look at the balance of the 401K where a worker is working now, you have very little idea of their total financial picture. You have to look at total financial assets across all accounts, minus debt. Then add in any business assets or investment real estate that their household happens to own.
Post: The Que sera, sera retirement planning strategy.
Link to comment from January 13, 2025
Staying alive is important. There must be 50 new drugs in Phase 2 trials. One of them might be the one. I know a guy who five years ago would have been dead; today, he has no trace of cancer. His oncologist keeps checking, but they can no long find anything.
Post: Staying Alive by Jonathan Clements
Link to comment from December 20, 2024
Citibank was famous among NYC tech workers as being the most screwed-up bank. It was a paradise for useless and/or conniving employees, and the managers were all empire builders - the more people you have in your department, the more important you are, and they don't have to actually do anything.
Post: Too Big to Succeed by Jonathan Clements
Link to comment from December 13, 2024
My percentage is 0%, because I select my own stocks and invest at Fidelity where there are $0 commissions. I do pay about 30 basis points on uninvested funds, but you have to let them make money somehow.
Post: Costs Matter
Link to comment from November 30, 2024
Looking at sold items, Victor Vignon paintings sold by respectable auction houses like Doyle and Bonhams seem to go in the $3000-7000 range, plus 25% buyers premium. The lesser houses get lower prices, but their paintings may or may not be real.
Post: Hardly Missed
Link to comment from November 26, 2024
I am an experienced art collector, and I well know that most of the paintings on eBay are fake. Perhaps JC dodged a bullet, unless he has enough knowledge to be able to evaluate the painting himself. Most of the fakes on eBay are very obvious, but there are good fakes of every listed artist in circulation. Without a catalog raisonne, buyers are flying blind unless they buy vetted pieces with good provenance from an auction house that has a staff of experts - and even those places can make a mistake.
Post: Hardly Missed
Link to comment from November 26, 2024
This is why individual stocks are good - at least you know when you're selling something and taking a capital gain.
Post: Danger: Taxes Ahead
Link to comment from November 23, 2024
100% not going to happen - such a bill would never get through Congress.
Post: No tax on your Social Security?
Link to comment from November 23, 2024
The number for total credit card debt includes many balances that will be paid in full every month. The banks know how much is outstanding, but they can't predict what will be paid when the bills are sent out. Many well off people charge everything they can to collect points and bonuses. A lot of this loot comes from poor people paying 30% interest. It's an interesting system, to say the least.
Post: Credit Card Debt.
Link to comment from November 23, 2024