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Originally Posted by oldjudge
Let me get this right-the owner of the card is an owner of the fund. Is that correct? So he makes money on the listed valuation for the card (I believe i heard that it originally sold for $1 million) and the fees the fund charges? Is that correct? Who determines when the card will be sold? How are positions marked to market if trades do not take place? What oversight body is regulating these transactions? If there are gains for investors are these collectible gains or ordinary capital gains? Are there truly independent board members? Thanks for any answers.
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Yeah what could possibly go wrong there, oldjudge?
I am perplexed how an outsider of this newly formed company with knowledge of the ins and outs of investing on Wall St would support such a venture but ok. Maybe I am missing something. I would love to hear answers to your questions.