Quote:
Originally Posted by Balticfox
Because without the element of a potential income stream at some point down the road, a buyer is merely hoping/speculating that another buyer will pay more for the asset without a quantifiable rationale. If any or every such purchase can be dignified as an investment, then there is no way such purchases can be differentiated from putting money down on the ponies, in Las Vegas or on lottery tickets. Yet the latter purchases/bets under standard nomenclature are termed "gambling" not "investment".
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There is a lane for the investment "flipping" world that's guided by intelligent speculation, even some based in an established reality of the moment.
During COVID, many people holding onto traditionally "safe" 70/30 - 40/60 stocks/bonds ratio were seeing a give and take of their returns as the market bounced around favoring one or the other.
People getting ahead of trends were banking, especially ones that show themselves enough to be a reliable event. My lane was buying oil/gas stocks when China announced major manufacturing area shutdowns (down) and selling when those areas reopened (up). There were 4+ major fluctuations during the COVID era that led to great returns.
There's room for speculators that don't need a steady supplement to their income from dividends/etc.
To bring it back to cards, I invest in what I consider under-valued graded cards of guys that I feel will make the HOF in my lifetime. Somewhat recently, the 15+ years I spent bidding low and snapping up Jim Kaat RC's paid off extremely well. I didn't consider him an "if" candidate, I considered him a "when" candidate.
I look forward to much of the same with Luis Tiant in the near future.