Housing Prices Are Still Too Low (EP.233)
Animal Spirits Podcast
The Compound
4.7 • 2.1K Ratings
🗓️ 1 December 2021
⏱️ 49 minutes
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| 0:00.0 | Ben, did you see the stock market of stocks on Friday through their Omicron virus was sending nasty ripples through the... |
| 0:07.2 | I believe they call that a black Friday sale, Michael, but yeah, stocks were down more than 2%. |
| 0:10.8 | You know what was sleeping cuddly in my portfolio? |
| 0:13.2 | What's that, Michael? |
| 0:14.5 | My paintings. |
| 0:15.8 | My paintings did not move one Iota. |
| 0:20.9 | According to Citigroup Ben, art has the lowest correlation to developed equities of any major asset class. |
| 0:28.3 | Contemporary art specifically had a lower loss frequency than the S&P 500 from 1995 to 2020. |
| 0:35.9 | And even though past performance doesn't guarantee future results, history says there's a lower chance of huge losses |
| 0:41.5 | when you're holding for the long-term. Ben, you have seven paintings if I'm right. |
| 0:46.3 | I do. |
| 0:47.5 | I can start my own museum. |
| 0:48.8 | Do you have a digital gallery? |
| 0:50.4 | I got. |
| 0:51.9 | I had five. |
| 0:53.0 | Now I have six. |
| 0:54.0 | I bought that Pablo Picasso painting while we were on air with Scotland for masterworks, |
| 1:00.0 | checked that out on Monday. |
| 1:01.7 | So the good news about my six paintings, you don't need a million or a hundred million dollars for that matter |
| 1:05.7 | to buy a piece of Pablo Picasso. |
| 1:07.5 | With masterworks, which is the first and only platform that lets regular people, |
| 1:11.2 | like you and me invest in rare art, you can do this. |
... |
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