7.4 Sneaker Culture and review

Open this link and read: https://docs.google.com/document/d/1Oy5OUmy7xyuaRUbUmCQigmXDIB2wCEVqqgw48LYe4nA/edit?usp=sharing or use this video link: https://www.youtube.com/watch?v=4iZVlYhCrTw

Do you consider yourself a sneakerhead?

• Yes

• No

What is the estimated size of the sneaker resale market in the U.S.?

• $3 billion

• $500 million

• $1 billion

• $2 billion

Which online company is now the leading company for buying and selling sneakers?

• Stadium Goods

• Goat

• StockX

• Flight Club

What is the valuation of StockX according to the LA Times?

• $750 million

• $500 million

• $1.5 billion

• $1 billion

What is the average price of the Nike AirJordan 4 Michigan PE in 2019?

• $5,000

• $5,851

• $3,500

• $2,000

What is the primary reason for buying multiple pairs of limited edition sneakers?

• To gift to friends and family

• To invest and resell for profit

• To match different outfits

• To wear different styles

If you purchase a limited-edition sneaker, you are guaranteed to turn a profit when you resell them. 

• False

• True

Do you consider sneakers an investment like stocks?

• Yes

• No

Review: Which of the following statements describes investing?

• Putting $100 per month into an FDIC-insured bank account for short-term goals
• Buying and selling stocks within the same day to take advantage of short-term price variation
• Reducing the purchasing power of your money over time
• Buying assets, like stocks, with the intention to hold them and grow your wealth over the long term.

An investor can best harness the power of compounding by doing all of the following, EXCEPT

• Making frequent trades
• Starting to invest early
• Reinvesting earnings
• Minimizing risk