Health of Asset Class - Over/Under 1955 Topps Koufax PSA 9

[Exhibitman]

Originally Posted by joshuanip

The Singer interview in the current WSJ is apt. Fed’s response to every crisis is to print money and the rise of crypto is a libertarian impulse for the disdain on the fed’s disrespect to fiat currency… article is bearish on crypto which I agree on, it root principles to crypto and art/cards are the same. An alternative store of value. But art and cards have another thing going for them, they can’t be produced in any more quantities that that exist out there. There will be “finds” but supply is pretty much set (sans e98 prior to bsf). And there is something tangible to the asset unlike “ether” assets.

Always thought and still think employment is the highest coefficient in card prices (as it affects demand (by people’s wherewithal) and supply (as people need to sell to fund cost of living). And with that metric we’re doing pretty good.

Of course there’s asset beta, which is what we are feeling today, as people “trade” based on how far cards appreciated and where they think cards will go. But as a long term driver, it’s hard to argue against the initial point as to why cards are a good store of value in a diversified asset portfolio.

It is hard to argue against alternative value stores in inflationary times. Whether it is a store or a scam is the question and at least with a card (or gold or real estate) there is something tangible, as long as you actually have possession of it. The rest is just speculating on the potential gains of one asset versus another over time. For example, I wouldn't have wanted to invest in New York City commercial real estate in 2019. It may be tangible but remote working has made a disaster of it. I'll say one thing for cards in particular:



They're a lot prettier to look at than a deed.