Forget gold, Chinese real estate or Greek debt derivatives. A new champion in the asset-bubble wars has emerged: Superman comics.
A sale of the first Action Comics issue, from 1938, drew a winning bid of $1 million, according to an auction site called ComicConnect.com.
That’s three times what a copy of the premiere comic cost just last year. To be fair, last year’s sale was of a slightly lower-quality copy, so the appreciation over the past 12 months may be somewhat less — say, double. Still, compared with a lot of other investments over the past year, that’s not too shabby.
Returns over the longer term are only slightly less dramatic.
For a buy-and-hold purist who put money into the comic 70 years ago, the return works out to an annual compounded rate of 25.8925%.
Put another way, if you’d bothered to buy the first edition when it came out, you could have gotten 10,000,000 times the original investment of 10 cents…