Dow Drops 500, We're Here Discussing the Sale of the T206- Wagner at a New High

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Posted By: peter chao

Guys,

It's either we're doing something right or it's sheer luck. Of course, I prefer to think we are doing something right, there are people who think that when the established markets are vacillating. It's better to invest in collectibles and commodities because in general they trend upwards.

Peter

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Posted By: barrysloate

15 minutes ago it was down 408, so that means it's in a freefall.

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Posted By: mark

I think it's a win win situation. When the market is booming people have disposable income to buy cards, and when the market goes down they invest in collectables to hedge the decline.

Just my opinion...

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Posted By: warshawlaw

But i derive great joy sitting down every evening to thumb through an album of cards.

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Posted By: peter chao

Guys,

Dow bounced back to close at -416 for the day.

Peter

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Posted By: Judge Dred (Fred)

Is someone going to post a video of "free falling"?

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Posted By: whycough

Just heard that a computer glitch had a good deal to do with the Wall Street plunge.

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Posted By: Neal

Not to panic all! market has to make corrections and bottom! Actually I will be doing some light buying tomorrow and next few days!

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Posted By: Frank Wakefield

Well some guy once said that you don't make or lose anything when the market moves, unless you make a transaction.

Trades got backed up, the computer system didn't register all of them as they happened, and then showed results all at once, and that generated what looked like a 200 point drop in mid-afternoon. I'm sure someone on here can better explain it than I can...

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Posted By: jay behrens

I forget who it was in 1987, maybe Warren Buffet, that when asked how it felt to lose a billion dollars, replied "Ask me that question when I light a billion dollars in cash on fire"

Jay

I love pinatas. You get to beat the crap of something and get rewarded with candy.

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Posted By: peter chao

Guys,

It's not only true for stocks, but it's true for our cards also. I'm sure some of you were pretty happy with the Wagner going for 2.35 million because you thought that would increase the value of your T-206 collection, well I for one, haven't profited from the increase yet...I ain't planning to sell any of my meager T-206 holdings anytime soon.

Peter

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Posted By: warshawlaw

It seems I put in a buy order for my SEP-IRA and purchased a substantial (for me) amount of an index fund, closing on Monday. It was inevitable that the market would tank on Tuesday, the day after my purchase closed. I guess I can change my name to "Tbob" now.

I will warn everyone next time I plan to buy so they can short the market the next day.

In the meantime, anyone have a team they hate that they want me to bet to win the Series? Alternatively, anyone want to paypal me some dough not to bet on their team to win the Series?

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Posted By: Jeff Lichtman

"It was inevitable that the market would tank on Tuesday, the day after my purchase closed. I guess I can change my name to "Tbob" now."

Ok, that was really funny.

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Posted By: peter chao

Adam,

I haven't seen Tbob posting for a little while, where has he gone. Don't get frustrated with your recent investment. Leave timing the market to the experts.

For the layperson like you and me, the best we can do is look for overall trends and try to be a little bit ahead of the crowd.

With prewar cards, I believe we are ahead of the crowd. But with a new high to the Honus Wagner, the crowd will be arriving soon.

Peter