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#1
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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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There doing this with high end art my mom says to me ,folks are really really stupid
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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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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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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 05-22-2023 at 06:14 PM. |
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Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ |
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Smart man your dad
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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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"Trolling Ebay right now" © Always looking for signed 1952 topps as well as variations and errors |
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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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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
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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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