First of all, for most of the US population having a $100,000 is just an absurd impossibility, particularly in 1998 when considering inflation. That said there is still a sizable number of people where such an opportunity is completely feasible...and I really hate those people. Just kidding! I hope to join your ranks...someday. Anyway, thanks to Gawker (man, that website is all over the place now...it's like Digg with spell check) I checked out this interesting New York Magazine article breaking down what the return today would have been if in 1998 you invested $100,000 in the following:
- Harlem townhouse shell
- One-bedroom co-op in the Le Havre Complex in Whitestone, Queens
- 3,298 shares of Apple stock
- 1,500 shares of TheGlobe.com stock (initial IPO high of $97 a share)
- 323 ounces of gold
- Consumers.com (yes, you bought a domain name)
- 20 Hermes Kelly bags
- BMW 750IL
- Two Steinway Model B grand pianos
- 64 cases of 1998 Dom Perignon
- Keith Haring's painting Untitled (1983)
Before clicking to find out which item would have given you the biggest return, which do YOU think is the most valuable today. Hint: If you say TheGlobe.com shares then I will say you are an IDIOT and banned from reading my blog. Or ever giving an opinion again.
Answer and rest of article here.
Either way, am I the only one that got super depressed after reading this?