Quote:
Originally Posted by packs
I think it's gambling when the poster is talking about using the cards in place of cash. That's what he said in his first post. Buy a card and use it as a commodity. I think that's gambling because you're assuming the market will allow for it. I also think it's gambling because at that price point (300K), you must have other holdings for you to be putting it into cards. If you lose it, that was your card money not your retirement fund. And if it is your retirement fund, I think that's nuts.
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You're getting caught up on the idea that $300k is all of his money. I know that's a very large number to most of us, but you need to allow for the possibility that it is just a small portion of the money he wants to invest in various things.
Of course putting all of your investment money into baseball cards would be crazy. Putting all your money into any one investment instrument (other than t-bills and the like) would be very risky. In that regard, putting $300k into PSA 9 and 10 Jordans is really no different than putting it all into Coca Cola stock, or a single house. But all 3 can legitimately be called investments.
Just because you can't fathom putting $300k into high grade cards doesn't mean it should be called gambling any more than stocks or real estate should be.