2021 Exit Strategy

[Peter_Spaeth]

From Phil's last question it's pretty clear he is not interested in the big picture advice people are giving. He's just going to keep trickling out cards to meet his immediate cash needs and his only question is which ones.

[Snapolit1]

Personally I would sell what I need to every month and not look back. Regret is not going to get you anything. Just bite the bullet and sell what you need to get by. Your present needs and happiness are more important. And if you sell a little at a time you can drag it out and maybe some cards will bounce back a little.

[Peter_Spaeth]

Originally Posted by Snapolit1

Personally I would sell what I need to every month and not look back. Regret is not going to get you anything. Just bite the bullet and sell what you need to get by. Your present needs and happiness are more important. And if you sell a little at a time you can drag it out and maybe some cards will bounce back a little.

And what if they decline precipitously? Then where is he?

[Snapolit1]

Originally Posted by Peter_Spaeth

And what if they decline precipitously? Then where is he?

Could happen. I'd hedge it and sell slow but regularly. I've been in same predicament with stocks.

If a star player card is down 80% I might take a shot at it bouncing back a little.

Either way a gamble.

[Peter_Spaeth]

Originally Posted by Snapolit1

Could happen. I'd hedge it and sell slow but regularly. I've been in same predicament with stocks.

If a star player card is down 80% I might take a shot at it bouncing back a little.

Either way a gamble.

Perhaps but many would say don't try to catch a falling knife. Applying that logic to particular stocks -- that they can't possibly fall any further -- would not in most people's view be a good strategy.

[G1911]

Originally Posted by Peter_Spaeth

Perhaps but many would say don't try to catch a falling knife. Applying that logic to particular stocks -- that they can't possibly fall any further -- would not in most people's view be a good strategy.

Get reason out of here and pump! Inexorably upwards! The ups are up and the downs are future ups.

[Peter_Spaeth]

Originally Posted by G1911

Get reason out of here and pump! Inexorably upwards! The ups are up and the downs are future ups.

If Olajuwon was such a great bargain at his falling knife price of 450, there would be more demand and that would put upward pressure on the price. There is every risk he could go lower.

[Casey2296]

Originally Posted by Peter_Spaeth

From Phil's last question it's pretty clear he is not interested in the big picture advice people are giving. He's just going to keep trickling out cards to meet his immediate cash needs and his only question is which ones.

I'm not sure what Star Jordon Rookies are worth but Phil (great name) says he over invested in them. The trick is to have your residual income cover your monthly nut, sell the highest value cards until you can set up an income producing portfolio so you know your basic needs will be met, then play with the rest if you want.

Phils mistake was thinking his incredible foresight in collecting Negro players would transfer to his decisions at the height of the market, (I can't even name the top 5 team sports), those were heady times rife with opportunities to lose money if you were drinking the kool-aid, I overpaid for a few cards then too.

The difference is collector/investor dynamic.

I would almost guarantee Phil was a collector of NL and when he sold them he turned into an investor. As a collector I still spend too much on awesome cards, it's my hobby and I love it, but I would never consider myself an investor, I'm not that smart when it comes to cardboard. I just collect what I love.

I feel like we should all meet Phil and have an intervention to square him away so he can get back to being a collector. I'm sure Leon has some rented space in a basement in Cleveland where this could take place.