CAGR
and
the Guinness merger was in 1997
Adding more context odds are almost none of the major corporations will have survived. Think old major corporations you might be left with beer companies like Guinness. But really even that company is gone. Established in 1759 it did not make it 350 years.
Yes none of us know which art pieces will matter in 500 years but the major collectors are very savvy and are playing it like a roulette table placing their bets across the table to cover the odds. For them right now the prices are not high. The CARG of investment art is so good the high end collectors make out extremely well even while they are alive.
I’m going to walk out on a limb and suggest that there are no major art collectors out there with a 350 or 500 year investment horizon.
That said, the record high price for a piece of artwork was for Leonardo Da Vinci’s Salvator Muni which sold for $450 million in 2017.
https://en.wikipedia.org/wiki/Salvator_Mundi_(Leonardo)
Coincidently, that piece was painted about 500 years ago. If we assume it cost $1000 originally, then the CAGR is about 2.6%.
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The Waltons?
For some reason, the sarcasm font didn’t come through…
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From what I see, the value in crypto may be as an alternative to the 7.5% the Financial Services industry skims from the economy overall. If crypto eventually becomes a medium of currency with lower transaction costs, it may have value. If not, what’s the point?
Gary Gensler also points out that if crypto is successful, it will have the affect for forcing the financial services industry to reduce “the slim”. Not an investor, but I’m all for crypto being successful and taxed appropriately.
Yeah … luckily there’s hardly any skim in the crypto world … #SARCASM
https://www.cnbc.com/2022/03/13/this-42-year-old-artist-made…
The collection was worth 660 Ethereum, which equaled $2.6 million at the time it sold (as of Friday, that amount would be worth closer to $1.7 million). Still, Rackam’s cut that day was $738,593.97.
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MarkR posts,
<<Gary Gensler also points out that if crypto is successful, it will have the affect for forcing the financial services industry to reduce “the slim”. Not an investor, but I’m all for crypto being successful and taxed appropriately.>>
Yeah … luckily there’s hardly any skim in the crypto world … #SARCASM
https://www.cnbc.com/2022/03/13/this-42-year-old-artist-made……
The collection was worth 660 Ethereum, which equaled $2.6 million at the time it sold (as of Friday, that amount would be worth closer to $1.7 million). Still, Rackam’s cut that day was $738,593.97.
Sure. It’s new, and there are plenty of ways to fleece the unsuspecting. But, overall, the true promise of blockchain is the prospect of eliminating the “trusted intermediary” that collects “the Skim”. That’s what Gary Gensler is talking about.
There’s a 30-yr-old MIT grad who started a cryptocurrency exchange in 2019. (FTX cofounder Sam Bankman-Fried) He’s now worth over $22 Billion. With that kind of valuation, he’s undoubtedly collecting quite a bit of skim.
intercst
There’s a 30-yr-old MIT grad who started a cryptocurrency exchange in 2019. (FTX cofounder Sam Bankman-Fried) He’s now worth over $22 Billion. With that kind of valuation, he’s undoubtedly collecting quite a bit of skim.
It is just another finance company. It is not like you haven’t heard of JP Morgan.