Quote:
Originally Posted by perezfan
Right...
The Registry is such a joke at this point. Those thousands of cards graded "7" in past years would be lucky to grade "5" today. Same thing with "6s" being "4s" if graded today. They've rendered the numbers on the flips meaningless, but the sheeple can't control themselves so the lunacy continues.
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Until we have a viable competitor whose slabs can command similar prices in the market, I think we are stuck with the perfectly imperfect uni-TPG that we have.
Edited to add: In some ways, it reminds me a bit of my own world as an auditor. Back in the early 2000s, there were some high profile corporate accounting scandals (Worldcom, Enron, etc). At the time, the response from one of the politicians (forget who, doesn’t really matter) was to suggest that they should just let public companies skip the audit process. Obviously that was a brilliant idea, because if auditors are imperfect, then going commando should really encourage better corporate behavior when it comes to honest accounting.
Fast forward to today, and the PCAOB published its annual report on audit quality and audit deficiencies. Most of the Big-4 firms had rather dismal failure rates, like 50%, sometimes more. And if memory serves, this last year #5 or #6 had a deficiency rate of like 86%.
And yet…given that there are no other real options and no emerging competitors, the entrenched players continue to do their thing, don’t necessarily do it very well, and continue to get hired do it, simply because there’s no viable alternative.