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E, Danielthat if any such investment group or hedge fund were to take on such an endeavour, they would hire someone with significant knowledge in the hobby to be their chief advisor (hopefully not Bruce, that would just garner too much board energy/animosity).
And secondly, that such purchasing would undoubtedly be restricted to items that 99.99995 % of us collectors would never dream of selling our homes to buy. If such a fund wanted to buy an original 19th century cabinet filled with baseballs from a historic first proffessional season, or nice wagners in high end condition, or a black betsy or two, exactly which collectors are being deprived? An extremely well-heeled one or two across the nation?
I seriously doubt I will sleep better at night knowing Hal is able to look at some amazing piece of memorabillia as opposed to it being held in a vault.
I really think you are kidding yourself on this issue, and just taking the opportunity to have a whack at Bruce. Fun maybe, but hardly a righteous argument. IMO.
daniel
edited to ask: And, if you could just have a go at the question I asked, which was how is this any different to the Mastro or REA Auctions. How do I know the motivations and actions of those individuals or groups who end up buying material at such auctions? What guarantees do I have that they are not buying primarily becuase they believe it is an excellent investment, and that the material does not make its way directly to a very large, very dark, and very secure bank vault?