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LetsGoBucsI believe that several funds already identify that they invest in collectibles with a small part of their funds.
Coins and stamps are their first choice as the demand for these are global. But Baseball cards offer opportunity.
What is interesting to consider is the potential strategies that the funds could employ. Graded cards would definately be viewed by a fund as a necessity. Even if cards bought raw they would probably soon be graded if only for insurance purposes.
There are a couple potential strategies. Highest grade cards post WWII - PSA 9's and 10's. High Grade pre-WWI popular HOF'ers - 7's, 8's, and 9's and complete sets mid-grade and above. And 19th century HOF'ers and significant cards.
Irregardless of the strategy the fund would want to execute over a relatively short period (2-3 years) of time and quietly.
However I think the opportunity has passed. Those funds that may have already invested will likely begin to realize their gains as the overall economy in the USA will have a large potential impact on the baseball card market for high priced items. It doesn't affect many of the best heeled collectors but definately impacts those that "feel" wealthy but aren't quite there yet in reality.
If I was going to invest, I'd go after the items with a combination of scarcity and popularity. W600's HOF, T3's HOF, E90-1, E94, E98 sets & HOF, N167, N172's HOF. High Grade T206 Cobb's and Johnson's. T204 mid & High Grade. E90-2 Wagner; D's Young, Wagner, Cobb, Mathewson. A consistent three-four year effort to buy all that come to market (within reason) and holding for a good period of time (at least 3 years) would have the impact of taking out supply and moving the price point for these items higher in people's minds.
Now if I could only get folks to pony up $100 million for my new fund 