CLCT going private

[Peter_Spaeth]

It will be interesting to see if they retain management.

[Rhotchkiss]

Wow. I need to digest this. I hope management gets the boot. I also hope they change their f-ing motto

[sando69]

which motto is that, ryan-
"Never get [concerned about being] cheated"?

[vintagewhitesox]

Nat Turner is a very passionate collector and cares very much about the hobby. I think this is a possitive for the hobby. He's talked frequently about ideas to make PSA operate better.
He does like Orlando though, based on recent statements and this morning's press release.

I think this is a good day for the hobby. The Board of Directors did not care about our hobby, did not take stock options as payments, and let the company languish to the point that we are waiting 6-9 months for submissions.

[iwantitiwinit]

Cohen Private Ventures, assuming they are the same Cohen Private Ventures, LLC, they are owned by Steve Cohen owner of Point72 (formerly SAC Capital) and the New York Mets. It would be surprising to me if Mr. Cohen made an investment without performing a high level of due diligence and being satisfied with the results of that process.

[Johnny630]

Nat Turner is a very smart guy. I'm looking forward to his ownership of CLCT. I think this is going to be very good.

[MattyC]

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

[MikeGarcia]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

...SEC forbids insider grading......

..

[Lorewalker]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

I think ya meant observed but absorbed is more fitting. The whole collecting community has absorbed it big time. Millions of bad slabs. Never gonna change.

[steve B]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.