Taking money out of retirement funds to purchase cards

[Exhibitman]

Originally Posted by Gorditadogg

Cards are not an investment. If you are buying cards to make money on them you are speculating, not investing. There is no intrinsic value to cards, all they are worth is what the old farts on this site are willing to pay for them, as long as we are around.

If you made a lot of money on cards, good for you. Maybe you were smart, maybe you were lucky, or most likely you were just obsessed.

Bur think about it. Right now you have a piece of cardboard with a picture on it that cost two cents to make 50 or 100 years ago, and you are hoping somebody will be willing to buy it from you for $1000 or $100,000 ten or twenty years from now. Because why?



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The intrinsic value argument is not a good argument because it is exactly what can be said about stocks, art, gold, diamonds, and nearly every other thing (tangible and intangible) that we use to store value. There is no intrinsic value to any of it other than what some old farts willing to pay for it agree it is worth. As for speculation, so-called 'investments' all are speculation. if that was not the case, why would SEC Rule 156 (17 CFR 230.156) prohibit mutual funds from telling investors to base their expectations of future results on past performance? Simple: because it is all speculative. Any differentiation between one form of construct and another is merely a perception of value and risk relative to one another.

There is little in this world with 'intrinsic' value. Just land, food, fuel, weapons and drugs. But securities, art, cards, even a dollar? Just a construct, worth what people collectively agree it is worth. Or to quote Gordon Gekko: "The illusion has become real, and the more real it becomes, the more desperately they want it. Capitalism at it's finest."