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Originally Posted by Mike D.
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Fun read.
It does seem to leave out some of us. For example, I found myself not really falling into any of the groups described, although I suppose I’m kinda sorta sometimes in some of these groups. It almost seemed like the article suggested that there’s a pure play collector who cares not one whit about value, a la Jingram, and then a whole bunch of different investors, who take different approaches to their hold period and focus.
Personally, I collect what I like, and I collect it because it brings me joy. Value is definitely secondary. But because so much of my personal fortune is tied up in cardboard, I can’t be completely agnostic as to value. At the same time, I certainly don’t buy it because I expect it to go up in value. And when I buy, I generally plan to hold it for decades. If investing for a return was important to me, I probably would have sold everything about a year or two ago.
But with so much invested, barring a really strong run from my more traditional investments, it will almost certainly be a part of the value that funds some portion of my retirement. The value also matters because of not having to be on the receiving end of grief from my wife. She’s convinced that I’m going to lose my shirt, and it helps with our relationship that it hasn’t happened yet.