Quote:
Originally Posted by packs
This is my last post on this but you're missing my point. I can fathom someone spending 300K on a card. I'm not some pauper who thinks that's all the money in the world. And I don't understand the characterization. The price point is what I'm talking about. If you have that much to break off for cards, then you're a high roller and does it really matter if your card dividends pay out double or triple? I would say no. It would be nice if they did, but if they paid out the same amount you put in, or even slightly less than you put in, that's not making or breaking anything for you. That's because you're just having fun with your disposable money, like when you gamble. You aren't trying to build a future, you've already built a future if your card budget is 300K. I'm talking about the guy who sees a post about cards as commodities and invests their life savings into cards. That is what I'm saying would be insane. Not spending your card budget, whatever that may be, on the chance that you might make a little more money.
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I'm with you on having these be the last posts. I definitely did not mean to characterize you as a "pauper" or anything of the sort. I just disagreed with your argument. It seems like you are saying that if someone has millions of dollars, you don't consider them investors anymore because they are already set for life. If the OP has $10mil, and wants to put $300k into baseball cards because he expects to grow his money, how is that not investing? Can Warren Buffet invest in anything, or when he buys up shares of a new company, is he simply gambling, since he really doesn't need the money?
It's just semantics, but I still think you are missing the point. I of course agree that no one should put all of their savings into baseball cards. They also shouldn't put it all into Coca Cola stock, but I bet you would call that an investment rather than a gamble.