Not a lot of bat for $5k

[drcy]

I knew a woman who's mother was 'investing' in jewelry she bought off of QVC. I said that, even if the rings themselves were good investments (I'm new jewelry expert and didn't know), the QVC markup was probably 100% above retail, and that it was worth less than what she paid the second she bought it. The woman said "I know and I was hoping you could convince her of that!"

Also, a sage investor once told me that if you want to invest in precious metals or gems that you don't buy the metals or gems, but you invest in the stocks of companies that deal in them.

He'll figure out its value day on his own, and that's the only way some people will learn.

[Runscott]

Originally Posted by drcy

He'll figure out its value day on his own, and that's the only way some people will learn.

What's funny about figuring out value, is that every time I venture into a new collecting area, despite doing loads of research and very carefully acquiring, I almost always start off by making mistakes and losing money. Can you imagine what must be happening (insert smiley taking it up rear here) to those who use the 'toss the spaghetti against the wall' approach?

[drcy]

Originally Posted by Runscott

What's funny about figuring out value, is that every time I venture into a new collecting area, despite doing loads of research and very carefully acquiring, I almost always start off by making mistakes and losing money. Can you imagine what must be happening (insert smiley taking it up rear here) to those who use the 'toss the spaghetti against the wall' approach?

With all the identification intricacies, variation, et al in baseball cards, when I go into a new area I know how little I know.

With someone stock picking for the first time, the worst thing is he makes money on his first pick and the best thing is if he loses money. If he makes money he will be sure he knows everything there is to know, and if he loses money he realizes he doesn't and he has to take care.