Will this stock market madness affect cards?

[mintacular]

I think GaryV's assumption about "sneaker heads" entering the market is just that, and ASSumption. Sure, I bet he talked to a few bro's who are new to the new market but that's probably mostly anecdotal........ To extrapolate that an army of non-card guys are now buying big $ cards is more speculation than anything..... As for the market, yes, bad economic times results in greater supply and therefore lower prices. And of course lower demand as many buyers are not in the mood to stockpile their PC

[Dpeck100]

Originally Posted by mintacular

I think GaryV's assumption about "sneaker heads" entering the market is just that, and ASSumption. Sure, I bet he talked to a few bro's who might not otherwise buy cards that are now doing so.... But to extrapolate that a ton of non-card guys are now buying cards is more speculation than anything..... As for the market, yes, bad economic times results in greater supply and therefore lower prices. And of course lower demand as many buyers are not in the mood to stockpile their PC

You should read his Twitter. This isn't speculation. They worship him.

[mintacular]

Well, watch out. High end basketball card guy spending half a mill on an altered MJ insert will end up holding the bag, charlatans like GaryV come and go, in a few years he will be a footnote in the hobby

[Dpeck100]

Originally Posted by mintacular

Well, watch out. High end basketball card guy spending half a mill on an altered MJ insert will end up holding the bag, charlatans like GaryV come and go, in a few years he will be a footnote in the hobby

The basketball card market has gone nuts. I am not just talking about these inserts that have gone for huge money. Gary proclaimed on his Twitter thread a year ago he was buying in bulk (100) PSA 10's of Giannis Antetokounmpo and they were $400. Now they are $1,600. Obviously the price is a moving target but it is up a ton. His followers are losing their minds and treating him like a card guru. He pointed out Lebron's that have gone from $1,000 to $6,000. Once again he is like a prophet to them.

I don't profess to know where this ends but it is all over the place. Look at Patrick Mahomes cards. I can't honestly say I would have had the foresight to buy his cards. They are up dramatically. This younger crowd is willing to role the dice and play the buy high and hope to sell higher later game.

When you have cards doing this it brings in buyers.

I am almost 41 and have been around the block with trading options. There is a new guy in my office that is 27 and he wants in. He reads on Reddit daily about the dudes gaming the system with Robinhood or someone else who risks it all on TSLA calls and it pans out. He wants in. You can play options with little money and either lose it all or kill it. Same thing with cards.

There was a thread on CU years ago where a guy was flipping his way to a 52 Mantle. He started with a small amount and did it. Stories like this keep people coming in to play the lottery.

The high end basketball card guy has an insane collection that includes a PSA 10 Aaron so I am not going to judge him. More power to him.

[mintacular]

Make sure your 27-year old friend watches this video before he buys in:

https://youtu.be/UM9WT-namdw

[Johnny630]

The tell tale factor will be the upcoming presidential election. Sure the virus has caused fear and uncertainty but it’s also one parties leading nominee whom has a lot of Wall Street Scared Sh+tless

[Dpeck100]

Originally Posted by Johnny630

The tell tale factor will be the upcoming presidential election. Sure the virus has caused fear and uncertainty but it’s also one parties leading nominee whom has a lot of Wall Street Scared Sh+tless

What is fascinating is both sides are scared to death.

I was at a conference seven years ago and Chis Mathewson was the guest speaker. He made fun of all of us because he assumed as financial people we were all Republicans. He knows it is 90% or more so not a stretch. That said guys like him are petrified. Anyone with a first grade math education realizes no one wins.

[Dpeck100]

Originally Posted by mintacular

Make sure your 27-year old friend watches this video before he buys in:

https://youtu.be/UM9WT-namdw

He doesn't want into cards. Options on stocks.

Point was the pursuit of profits draws people in.

Why were there buyers of TSLA at over $900? Because it was up. Same thing drives a lot of the card market.

I am not a flipper. No reason to have nearly 30 Andre 82's so I don't fit the profile.

Just realize it exists.

[Johnny630]

Originally Posted by Dpeck100

He doesn't want into cards. Options on stocks.

Point was the pursuit of profits draws people in.

Why were there buyers of TSLA at over $900? Because it was up. Same thing drives a lot of the card market.

I am not a flipper. No reason to have nearly 30 Andre 82's so I don't fit the profile.
Just realize it exists.

Exactly Bingo Right Emotion Driven Momentum is extremely strong look at last week in the markets.

Doesn’t have to be REAL

[Dpeck100]

Originally Posted by mintacular

Make sure your 27-year old friend watches this video before he buys in:

https://youtu.be/UM9WT-namdw

There easily could be a bubble. That said it is hard to say. In 1985 Dwight Gooden was the card to have. There were over a million printed and it reached a trad able value of over $15. That is a market cap of over 15 million. With drastically less printed today these same cards will sell at a massive premium to this and probably have a similar market cap. Hard to know what happens. Hard to argue though with those who successfully forecasted stardom and put their money behind the cards.

[mintacular]

Originally Posted by Dpeck100

There easily could be a bubble. That said it is hard to say. In 1985 Dwight Gooden was the card to have. There were over a million printed and it reached a trad able value of over $15. That is a market cap of over 15 million. With drastically less printed today these same cards will sell at a massive premium to this and probably have a similar market cap. Hard to know what happens. Hard to argue though with those who successfully forecasted stardom and put their money behind the cards.

I'm not sure this is true, the video I posted proves as much