Problem is, the example applies to a painting, that is an object
whose value changes, not shares whose number remains constant but
whose value changes, thus leading to a change in total valuation.
There's no accounting difference between a painting and a share of
stock, though using a painting for the example forecloses the
opportunity to discuss a long-running account having multiple
purchases and sales of the asset type because Degas paintings are
one-offs while shares of, say, Apple are fungible.
I don't think he is talking about A painting or other singular work of
art but shares of a fund investing in non-fungible art. So you could
think of it like shares that could be bought or sold except I think this
is likely in an IRA, Roth IRA, 401k, etc, so you aren't doing that << if
there are multiple investment options can shift between >>
Michael
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