Hobby Panic in 2009

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Posted By: joe brennan

Mathew, Extremely well thought out and interesting post.

"High end cards are truly tangible and in most cases have better name recognition and headline capacity than most fine art and other high end collectables."

But, This is a statement that you might want to retract. Baseball collectors are .0000000000000001% compared to the Art collecting world. If just one fine art collector decided to collect baseball cards and aggresively buy with their income, not one card would ever fall into your hands, Bruces or Jim's hands again. If he let one slip through it would be 100x's what you would be willing to pay. Our national sport has been around for 100 years. Collecting fine art has been around for a bit longer.

I do believe the name Rembrandt is more well known in this world than Wagner. We have one collectible worth over $1M while lesser known works of less famous artists reach this figure daily. To think your baseball collection will be valued more than museum pieces can not be coming from a person offering any sound financial advice.

As for the doom and gloom statement till 2015, don't hold your breath. Investors will be scooping up bargains and bolstering a slumping market with fresh money. Stocks at a bargain price will not sit their un bought. There will always be someone selling and someone looking to buy. Look for a turn around sooner than you think.

As for the crooks. Their have been crooks since the beginning of time and they will be exposed and the scheme will be uncovered. Pretty soon a new one will start. Jesse James made a living robbing trains and banks and I guess people are still coming up with ways of robbing banks, just not using guns any more. We will survive the latest bank robbers and continue to store our money there.

People and lending institutes that bought and loaned money for houses they could not afford were doomed to lose them from the beginning. Smart people still live in houses they could afford and will be able to afford through tough times. Just because your income increases doesn't mean you have to buy a bigger house every time you get a raise. Keeping up with the Jones is like showing your privates. Someone always has a bigger one. Kinda like some of the collectors that try to be whales. In the long run they are swallowed by a bigger fish.

Rest assured Mathew we will survive this. I just hope that with the doom a gloom attitudes and the hopes that the new adminstations fail, that some people are not advising people where to invest their money. I for one would not like to have my money in their hands.

I hope that you next post is as well written, but a little less fantasy.

In Rememberance of James W. Brennan Sr. 1924-1982. Dad, thanks for everything you did for me.