Quote:
Originally Posted by Mark17
Right. So if he spent what he took in on cards (which he sold at the top of the market) and now sells them for maybe 50% what he paid, he's in decent shape. If your collection goes from $100 to $200 then you sell and re-buy stuff which you then have to sell at 50%, you end up with your $100 back. Roughly.
Then we are both suggesting he puts that dough into a conservative cash-based, interest bearing savings account.
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Agree, his best course is to get all the way or mostly out of cards and into a conservative vehicle. But I don't think he's listening, he's just fine tuning which cards to sell first. You can't make the horse drink, as they say. I hope he reconsiders.