Quote:
Originally Posted by Runscott
What's funny about figuring out value, is that every time I venture into a new collecting area, despite doing loads of research and very carefully acquiring, I almost always start off by making mistakes and losing money. Can you imagine what must be happening (insert smiley taking it up rear here) to those who use the 'toss the spaghetti against the wall' approach?
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With all the identification intricacies, variation, et al in baseball cards, when I go into a new area I know how little I know.
With someone stock picking for the first time, the worst thing is he makes money on his first pick and the best thing is if he loses money. If he makes money he will be sure he knows everything there is to know, and if he loses money he realizes he doesn't and he has to take care.