Yeah Seattle I have been saying that for years. There are those who sell for cash to meet living expenses, but there are others who don’t need the cash in that manner—and that includes all the institutionals, sovereigns, insurers, hedgies, and well-heeled individuals.
Btw parking spots are doing well. I just received some eye-watering unsolicited offers on art that I swore I would never sell...and I didn’t sell. Where would the money go? To cash?😂
I used to find it difficult to understand people who were well-off but not very rich, who died and left behind things they could have sold to cover debts, etc. Now I get it. Unfortunately I stand to inherit nothing because my fam has no money or things, but if they did, I could see taking possession of it and just passing it on when I die.
Parking becomes an issue. With bonds etc you risk losing to inflation and its corollary currency devaluation, not to mention plain old default. Yes gov has acted as insurer for some things like mbs, so there is that—but it’s never as good as it seems on paper.
Also: gold. Next week I will be setting up a dedicated account at IBKR to buy that gold fund I mentioned, but denominated in CHF not USD.
Hey idiot, if you’re interested, IBKR are in the SEPA system, which makes many euro transactions much easier.