Debate about stock market, collecting

[Peter_Spaeth]

I love how on any given day the news networks come up with these ridiculously oversimplified soundbites to explain that day's stock price movements. Investors worried about China. Traders shrug off budget woes. Housing report spooks investors. As if everyone's in it for a day only, and every market participant is part of a single massive group with a single emotion.

[1952boyntoncollector]

Originally Posted by Peter_Spaeth

I love how on any given day the news networks come up with these ridiculously oversimplified soundbites to explain that day's stock price movements. Investors worried about China. Traders shrug off budget woes. Housing report spooks investors. As if everyone's in it for a day only, and every market participant is part of a single massive group with a single emotion.

I agree with you there....its almost as bad as not giving an assist to a guy when the guy he passed too made 2 FTs as a result of a foul....I just don't understand

[Brian Van Horn]

The one thing I hate about the markets is not how dependent they are on China, but how dependent they are on the price of oil.

[ls7plus]

No apparent concern among high-end, big bucks buyers in the Mile High auction which closed last night: 1954 Topps Aaron PSA 9, $192, 527; 1933 Goudey Gehrig SGC 9, $57,183; 1954 Topps Aaron PSA 8, $28,449; 1970 Topps Reggie Jackson PSA 10, $43,101; 1980 Topps Rickey Henderson, PSA 10 $29,872; 1952 Topps Mantle in just PSA 2.5, $21,549 (I remember well when that was a NrMt price!); 1952 Bowman Mantle SGC Mint 9, $27,095; 1950 Bowman Football Otto Graham PSA 9, $17,026; 1956 Topps Mantle SGC 9, $21,049; and one of my favorites, since I own a very strong one in PSA 8, 1954 Bowman Mantle PSA 8, $6775 (about 4X what I paid for it in '97).

Purely by way of what you want to make of it, Q.David Bowers, one of the most knowledgeable numismatists and prolific authors in coin collecting, did a very thorough study to see if there was any correlation between the coin and stock markets and found none.

In the short term especially, the stock market runs on hysteria, not logic or reason.

I guess I'm just the opposite of chicken little, but I am always very hesitant to agree the sky is falling, and there are always those eager to take just the opposite opinion. I'll stick to my position until Revelations/the Rapture arrives. Until then, the big guys, who aren't in this to invest--they just take pride in having the best--will always have money, and lots of it. And their tastes for the best will change from what is now in vogue to other areas not currently in focus, which will seem like incredible bargains in comparison in the future.

My 50 cents worth,

Larry

[Peter_Spaeth]

You mean Revelations.

[ls7plus]

Originally Posted by Peter_Spaeth

You mean Revelations.

Thanks Pete--got it corrected!

Best always,

Larry

[vintagetoppsguy]

Originally Posted by Peter_Spaeth

You mean Revelations.

If you're referring to the last book of the Bible, it's Revelation, not Revelations.

[Peter_Spaeth]

Originally Posted by vintagetoppsguy

If you're referring to the last book of the Bible, it's Revelation, not Revelations.

You are of course right. While correcting his spelling I neglected to correct the plural.