T206 cards poised for largest 2 yr. percentage price increase.

Peter_Spaeth · #1 08-20-2018, 09:57 PM

Quote:

Originally Posted by SetBuilder

No one wants to spoil a good party. Every asset I can think of has gone up at least 5-fold since 2010. I remember just a couple of years ago buying Apple shares at $90, and now it's at $215. Over a trillion dollar market cap already. Facebook from $50 a share to over $180 in less than 3 years. Bitcoin. Real Estate. Coins. Cards. Everything.

Some wisdom and a little knowledge of history can be very sobering at times.

Bitcoin has come partway back to earth. You're right, but you could have put together a sky is falling scenario in 2010 too. Or any year after that. How many people thought it was insane when AMZN hit 500? How many people were convinced that the market's recovery following early 2009 was just a dead cat bounce? How many people thought Bitcoin made no sense at 1000?

SetBuilder · #2 08-20-2018, 10:02 PM

Quote:

Originally Posted by Peter_Spaeth

Bitcoin has come partway back to earth. You're right, but you could have put together a sky is falling scenario in 2010 too. How many people thought it was insane when AMZN hit 500?

The US is $22 Trillion in debt and running $1T deficits at the tail end of one of the longest economic expansions on record. Cost to service that debt is already $500B+ a year, almost bigger than Medicare and the military. Consumers have more debt today than they did in 2006-7 before the collapse. A lot of it is unsecured debt for things like subprime autos and discretionary items.

Everyone binged on debt while rates were near zero.

Just keep that in mind.

Peter_Spaeth · #3 08-20-2018, 10:04 PM

Quote:

Originally Posted by SetBuilder

The US is $22 Trillion in debt and running $1T deficits at the tail end of one of the longest economic expansions on record. Cost to service that debt is already $500B+ a year, almost bigger than Medicare and the military. Consumers have more debt today than they did in 2006-7 before the collapse. A lot of it is unsecured debt for things like subprime autos and discretionary items.

Everyone binged on debt while rates were near zero.

Just keep that in mind.

I read the gloom and doom folks all the time. They always sound persuasive. I'm just saying people who listened to them have missed out on unbelievable growth. I can't believe Stansberry and his ilk have a single paying client left with his track record.

SetBuilder · #4 08-20-2018, 10:08 PM

Quote:

Originally Posted by Peter_Spaeth

I read the gloom and doom folks all the time. They always sound persuasive. I'm just saying people who listened to them have missed out on unbelievable growth.

That's fine. I've been bullish the last few years. Some people are permanently pessimistic and it can be annoying, I agree. But they may be broken clocks soon. This is the longest period between recessions. Ever.

Can you honestly tell me this expansion is going to continue indefinitely?

Peter_Spaeth · #5 08-20-2018, 10:09 PM

Quote:

Originally Posted by SetBuilder

That's fine. I've been bullish the last few years. Some people are permanently pessimistic and it can be annoying, I agree. But they may be broken clocks soon. This is the longest period between recessions. Ever.

Can you honestly tell me this expansion is going to continue indefinitely?

No, corrections are always inevitable, but rule no. 1 has always been don't try to time the market or you'll get burned, no?

SetBuilder · #6 08-20-2018, 10:11 PM

Quote:

Originally Posted by Peter_Spaeth

No, corrections are always inevitable, but rule no. 1 has always been don't try to time the market or you'll get burned, no?

Don't try to time the market, but don't buy at the top either. There is a subtle difference between the two.

Peter_Spaeth · #7 08-20-2018, 10:12 PM

Quote:

Originally Posted by SetBuilder

Don't try to time the market, but don't buy at the top either. There is a subtle difference between the two.

That's the whole point, you can't tell a top without hindsight. People thought Dow 10K was a top.

Sean · #8 08-20-2018, 11:15 PM

Quote:

Originally Posted by Peter_Spaeth

No, corrections are always inevitable, but rule no. 1 has always been don't try to time the market or you'll get burned, no?

This is the exact advice that I got from my money manager.

ruth_rookie · #9 08-20-2018, 10:51 PM

Quote:

Originally Posted by SetBuilder

Consumers have more debt today than they did in 2006-7 before the collapse. Everyone binged on debt while rates were near zero.

I know I did... on baseball cards!!!

SetBuilder · #10 08-20-2018, 11:08 PM

Quote:

Originally Posted by ruth_rookie

I know I did... on baseball cards!!!

You bought baseball cards on credit?

Sean · #11 08-20-2018, 11:14 PM

Quote:

Originally Posted by SetBuilder

You bought baseball cards on credit?

I have, a T206 Plank in 2006, a Merkle/ Brown Lenox in 2004, a Merkle/ Pirate in 2013, and a 1914 CJ Mathewson in 2016.

And they all turned out to be good moves (well, 3 out of 4 anyway).

ruth_rookie · #12 08-21-2018, 10:54 AM

Quote:

Originally Posted by SetBuilder

You bought baseball cards on credit?

Was a joke. Guess I should’ve added a smiley face at the end of the sentence. ��

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