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…
Latest posts by majestic (see all)
- ‘Stranger Things’ Is Really ‘The Montauk Project - Sep 20, 2016
- Jay-Z’s Animated Video Op-Ed: The War On Drugs Is An Epic Fail - Sep 18, 2016
- Alan Moore’s Favorite Books - Sep 9, 2016