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re: The DowJones Industrial Average AND the S&P500 Index both closed at record highs today
Posted on 1/19/24 at 10:59 pm to slackster
Posted on 1/19/24 at 10:59 pm to slackster
quote:
Let’s ignore CPI and look at something that is very public and very easy to check - gasoline. The S&P 500 has outpaced the price of gasoline by 6% in the last 3 years.
That’s fair. A solid point. What about food, rent, and vehicles? I would say they’ve all at least kept pace with, if not surpassed, the S&P.
quote:
Simply out, it’s ridiculous to downplay the market like Sloane does by arguing “yeah, but dollars are worth less.”
I get where you’re coming from, but what is incorrect about his statement? The dollars are worth less. It’s not the only problem, of course. We have seen a stock market run fueled almost entirely by the Magnificent Seven while the rest of the S&P 493 languish. Margins and revenue for most are down. Debt is up and popping some like grapes.
quote:
The fact of the matter is the majority of posters on this board have higher real net worths today than they did 3 years ago.
If they weren’t borrowing money for investments I would have doubts about this. These index appreciations are at best keeping you even with actual inflation, not beating it. Individual stocks will, naturally, over and under perform.
This post was edited on 1/19/24 at 11:02 pm
2
Posted on 1/19/24 at 11:42 pm to Decisions
quote:
If they weren’t borrowing money for investments I would have doubts about this. These index appreciations are at best keeping you even with actual inflation, not beating it. Individual stocks will, naturally, over and under perform.
That’s not how it works.
Posted on 1/20/24 at 12:38 am to Decisions
quote:
I get where you’re coming from, but what is incorrect about his statement? The dollars are worth less. It’s not the only problem, of course. We have seen a stock market run fueled almost entirely by the Magnificent Seven while the rest of the S&P 493 languish. Margins and revenue for most are down. Debt is up and popping some like grapes.
Dollars are worth less every year, and the broad market is also up considerably since 2021 - RSP is the equal weight S&P 500 and it’s up 28% over the same 3 years.
I realized it’s politically convenient to downplay the stock market under Biden, and I’m no fan of his whatsoever, but at some point it gets a little embarrassing. I’m not accusing you of doing so, but many in here just cannot fathom that stocks can do well under any president.
quote:
If they weren’t borrowing money for investments I would have doubts about this. These index appreciations are at best keeping you even with actual inflation, not beating it
Why is that hard to believe? People have a lot more money in their investment accounts, their homes are worth a lot more, and their pay has essentially kept up with inflation. If they have a lower real net worth today than they did 3 years ago they’re probably doing something wrong.
Also, “actual inflation” as defined by who? I hate the cost of a bag of chips just like anyone else, but no one seems to also recognize you can buy a 55” 4K Smart TV for $280. I haven’t seen an increase in my internet or phone bill in a few years it seems. Lots of things cost more than they did a few years ago. Some haven’t really budged. Some cost less.
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