Posted By:
Jim VBI've seen Bruce's video before and find it interesting every time.
I see nothing wrong with the transaction in question here. Bruce took a risk. During the five years he tried to buy the card, apparently, no one else was offering the teacher more. He was using his knowledge of the industry to speculate that things would change in the future and the card would increase in value. This is no different than buying a stock, or an antique, or a house.
Now, when Bruce went to sell, if the value had plummeted to $50 and he looked for a government bailout...