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  #1  
Old 05-22-2023, 05:29 PM
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Like most things, a great idea when prices are soaring crazy. Not so much when they crash down to earth.

Never had any interest in the idea, but I don't see where buying 1/5000 of a card for $500 is any stupider than buying an entire card for $2.5M. If it goes up, great deal. If it doesnt, not so much. Seems to be the exact same concept behind mutual funds.

Last edited by Snapolit1; 05-22-2023 at 05:33 PM.
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Old 05-22-2023, 05:50 PM
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There doing this with high end art my mom says to me ,folks are really really stupid
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Old 05-22-2023, 05:55 PM
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As my dad used to say, "if it's such a great deal, why are they offering it to you?"
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Old 05-22-2023, 06:11 PM
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Quote:
Originally Posted by Snapolit1 View Post
As my dad used to say, "if it's such a great deal, why are they offering it to you?"
That's what I always ask the idiots cold-calling me to buy stocks. Unless I decide to put them on hold instead and see just how stupid they are. The real dumbasses will stay on hold for 60-90 seconds before they realize I ain't coming back. Yes, I am a small and petty person, but I have fun with it.
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Last edited by Exhibitman; 05-22-2023 at 06:14 PM.
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Old 05-22-2023, 06:43 PM
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That's what I always ask the idiots cold-calling me to buy stocks. Unless I decide to put them on hold instead and see just how stupid they are. The real dumbasses will stay on hold for 60-90 seconds before they realize I ain't coming back. Yes, I am a small and petty person, but I have fun with it.
These guys are never good salespeople either, they always come across way too aggressively. Maybe marketing tells them that's what works.
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Old 05-23-2023, 04:09 PM
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Quote:
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As my dad used to say, "if it's such a great deal, why are they offering it to you?"
Smart man your dad
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Old 05-23-2023, 04:47 PM
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Cash out my stocks 06 07 bought real estate

Sold real estate 08-09 bought cards

Sold cards 2022 and went back to dividend stocks

Likely that's it for me. First two seem just too risky in these times. I'd expect a 50% drop in both home prices and (some) cards in the near future. People way over leveraged and credit cards are coming due. No more cash out refis to pay credit cards or buy cards that "just go up".


Wish all the best, but don't put you or your families livelihood on the line for a "great deal"....ever
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Old 05-22-2023, 06:05 PM
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Quote:
Originally Posted by Snapolit1 View Post
I don't see where buying 1/5000 of a card for $500 is any stupider than buying an entire card for $2.5M. If it goes up, great deal. If it doesnt, not so much. Seems to be the exact same concept behind mutual funds.
The problem is that the “investors” were underwater from the beginning. The fair market $2.5M card received a premium pricing increase (e.g. to $3.0M) before the shares were purchased and distributed. Thus, the “investors” needed significant appreciation just to get back to the cards real word market value.
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Old 05-22-2023, 06:10 PM
G1911 G1911 is offline
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Originally Posted by Tyruscobb View Post
The problem is that the “investors” were underwater from the beginning. The fair market $2.5M card received a premium pricing increase (e.g. to $3.0M) before the shares were purchased and distributed. Thus, the “investors” needed significant appreciation just to get back to the cards real word market value.
That’s impossible. I was assured by pumpers that this was free money. Pure profit baby
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Old 05-23-2023, 03:28 PM
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Quote:
Originally Posted by Snapolit1 View Post
Like most things, a great idea when prices are soaring crazy. Not so much when they crash down to earth.

Never had any interest in the idea, but I don't see where buying 1/5000 of a card for $500 is any stupider than buying an entire card for $2.5M. If it goes up, great deal. If it doesnt, not so much. Seems to be the exact same concept behind mutual funds.
I invest in Mutual Funds. It's different from Collectables. I invest in Large Cap funds, International Large Cap funds, and also one Environmental Conscious fund, plus the Retirement 2055 fund. At the end of the year, Dividends are paid out for the mutual fund owning XYZ shares. That number is then divided by the number of mutual fund shares and paid out to shareholders as additional shares of the fund. So I always own the mutual fund, and I receive additional shares at the end of the year, and when I want to sell my mutual fund shares I can. When the market is down, my share value is down, but the dividends have continued. When the market is up, my share value increases and the dividends continue. If it's seen as a long term investment, then the ROI is worth it. Whereas in Collectables, the flippers were looking for quick money.
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Old 05-23-2023, 04:01 PM
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While I totally agree with your concept, it's highly important to note that one should hold mutual funds in a tax free Roth or SEP, Simple or other tax deferred account. Holding them in a taxable account will generate taxable income each and every year, some with large capital gains, even though you have not sold a nickels worth. ETF's would be the better choice, same make up of companies or sectors, but much more tax efficient.

Last edited by sb1; 05-23-2023 at 04:02 PM.
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