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hankronIf you're investing in cards or memorabilia, remember that cards aren't like internet stocks in that you have to find a real person to buy. Realize that there are very few people who can afford that single $20,000 card, but there are tons of average collectors who afford $100, $500 and $1,000 cards.
Also, even if the book value goes up, many investments are ruined by the investor overpaying from the start. I knew of a woman who wanted to invest in diamonds, so she went to the jewelry store and a diamond. She had no idea how much the store marked up the diamonds (aka 'retail') and that a normal person, like herself, could never sell a diamond at store price.
If you are an active buyer and seller (whether by yourself on eBay or consigning), you will be a better investor, as you know what people really pay for memorabilia, what actually sells versus what is tough to push and what it's really like to sell items for when you wish to cash in on your investment. There's a big difference between selling yourself and browsing the MastroNet and Robert Edwards 'prices realized' sheet.
Long term experience is important, as you will see how fashion changes, fads appear and dissapear, and, most important, what is of essential quality. For example, beginning modern card collectors are inevitably shocked to find the cards they pulled from packs and won on eBay fall drastically in price over the next couple of years. Their first investing lesson is, that with modern cards, collectors are excited about this year's cards, and in a year this year's cards are last year's cards.
The best thing that can happen to a Donald Trump wannabe is for his first stock to tank in days (assuming the investment was of affordable $), because he'll realize he doesn't know what he's doing. The worst thing that can happen is for his first sale to be a quick & easy profit, because he'll think he knows what he's doing.