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Although most will disagree with me,I feel a mix of both is quite appropriate.My portfolio is split between stocks and assets-assets being real estate,comics,investment grade coins,fine art and raw silver and gold.At this stage,I'm not into bonds but as I get older,I'll begin the shift into them.
The advantage of comics and art is that they have a great upside potential,and there is little papertrail,the downside is that they earn no interest and storing expensive books or art is problematic.
With that said,I wouldn't invest a dime into comics until I've maxed out my IRA each year.

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You make very good points.

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It would be foolish to invest your money in just one venture. Comics can be included in your investment portfolio but only as part of a greater whole. If I had to chose one or the other, I would chose mutual funds (i.e. funds that are well diversified over stocks, bonds, etc.) for investment purposs. There is no telling what the comic market will be like in the far off future. That is why diversification is so important. It also depends on your age. For those collectors who are nearing or at the age where they would want to cash in their investments, comics might be a better investment than for those whose retirement is far off , depending on when they bought them and their current value.

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