2021 Exit Strategy

[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.

[G1911]

Originally Posted by Peter_Spaeth

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.

I've been told this is unpossible, cards are a money printer.

[rjackson44]

Hang in octavio

[Republicaninmass]

I'd just like to make a comment here. I saw what happened during the late 80s early 90s boom of collecting, and that's why I sold off 90%. It's hard to believe people who lived through that, didnt/don't see what's happening. I guess it's the hopium similar to stocks. The hope that this time it will be different.

I followed a portion of Casey's advice. Paid off all debt, and put money into dividend stocks, IRA and CDs. I had actually cashed out my 401k during the Great Financial Crisis to buy real estate and cards. In that respect, it took about a decade to come full circle. I couldn't see what might be me and my family's future, resting on "cards might keep going up"

[bcbgcbrcb]

Phil:

Thank you for adding some humor to the thread, I can sure use it.

Unfortunately, that fateful day in 2014 when I had the heart attack, Phil the Collector pretty much went away, possibly forever, as my income stream from my job went from a high 5-figure salary prior to that to $10K, $10K and $25K over the next three years before zeroing out in 2018 and every year thereafter. Thus, Phil the Investor was born in 2014 as I would need to make the most out of the sports memorabilia collection that I had accumulated up to that point and make it last for the rest of my life, not a "collect what you like" situation anymore. I've had some other things fill in the gaps over the years including Mego's, comics, dollar box cards, etc. but the only significant money comes from the old collection. I feel that I made all of the right decisions handling that original collection, including selling everything throughout 2021, thus, maximizing my return by selling at the peak of the market. Of course, the entire reason that I am in the position that I am in now is because of my ill-fated decision to buy up HOF rookie cards as fast as the sales money came in to keep ahead of the rapidly rising market. You know where things went from there.......

[samosa4u]

Originally Posted by Republicaninmass

I'd just like to make a comment here. I saw what happened during the late 80s early 90s boom of collecting, and that's why I sold off 90%. It's hard to believe people who lived through that, didnt/don't see what's happening. I guess it's the hopium similar to stocks. The hope that this time it will be different.

I was born in the 80s and so I don't remember this boom. The same goes for most of the people who got burned during the pandemic. They were too small or weren't alive then.