Speaker 2
I'm sticking with the theme of this week's episode. So I guess I could go first, which is roughly sort of 320%. And that is the amount of money you would have made if you'd invested $100 in the S&P 500 in 2011, or actually in a Chanel handbag. The returns have been comparable. The S&P does slightly have the Chanel handbag beat. It's sort of a big close to 350%. But the point might made about these being goods that, you know, you could think of as being a capital flow investment good type thing. It actually holds water, especially over the last two decades or so, sort of price rise in luxury goods. It's so enormous that you would actually have made a very decent return buying Chanel 10, 15 years ago. That said, you know, past returns are not an indicator of future performance. And I don't know if that will repeat. But if you had a time machine, it'd be great to go back to 2011 or 1990 or ever and buy a Chanel bag. I'd
Speaker 3
probably still buy Bitcoin if I had the time machine. Although I was thinking then, you know, on the one hand, this is an investment advice. And on the other hand, you can't put your keys, wallet and phone in an S&P 500 ETF. So there's arguments in favor of both directions. My start of the week is actually sort of semi related. It is 16,673. And that is the one day high of the Hang Seng Index in Hong Kong in August 1997. The reason I've chosen that this week is because the Hang Seng is now back below that level. It's down 9% of the start of the year. It's having a really, really dismal time. It's just not performed very well over the long term, but also the sort of connection to a slowing Chinese economy, not helping at all. And again, proof that sometimes you can do much worse than investing in a luxury Hang back, much, much worse.