Assumptions about TPG

[Throttlesteer]

The recent rise in fraud involving reholdered cards got me thinking (I know, I do a lot of it) whether PSA is risking its market share. Yes, they're the big player on the block with the most to lose. Fake Mantles, Cobbs, Ruths, etc..all put back together with little to no evidence of tampering. Most of these appear to be older-style holders. But, is PSA potentially leaving themselves wide open for a competitor to steal their lunch? If someone were able to introduce a technology that could make it nearly impossible to pull off this kind of fraud, could it be a Kodak moment for PSA?

Don't get me wrong, I still like their product and they haven't completely lost me with increased fees and slower turnaround times. I just wonder if they're leaving themselves wide open and creating the perfect storm. No holder will ever be completely fraud-proof, as the mouse always figures out the better mouse trap. It just seems to be getting a little out of hand lately.