Buying just to flip

[17noir]

Originally Posted by macrowatch

Okay, I’ll bite.

Reading the thread I have two impressions:

First, I think perspectives will really differ based on income levels. If I were just a starting professional and cashing out of a jumbo could help me buy a house? I’d be hard pressed not to cash out the ‘beanie babies’. But if I were in the 2%, what else could I use the money for? Probably nothing. What else am I going to buy that’s better than I’m parting with? It’s like saying I have Rothko, it’s appreciated like crazy. But if I sell it, what else am I going to hang up on the wall anyways besides the kids finger paintings? I might as well just keep and enjoy.

Second, purely economically speaking, AP of course cares about secondary value. And the best way to ensure secondary values are crazy is to assemble as many customers that are Diamond hand holdrs that never well ensuring scarcity is endemic even on the secondary.

I love Chiscotts wisdom (although apparently controversial?) you do you.

Well said, couldn't agree more.