Quote:
Originally Posted by MattyC
Agreed. I don't buy for a second that there's been some sudden, literally overnight influx of uber-wealthy buyers who only now discovered a passion for sportscards of all sorts (Jordan, Mantle, Ruth, Gehrig, etc., etc.). A passion so intense that it leads them to spend sums of the riches they were so savvy enough in life to obtain— sums that break wholly with all past data and pricing history.
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As with what's going on with GameStop, the current values are becoming "untethered from the underlying fundamentals," IMO. All the cook groups manipulating prices over the summer seem to just be the start of this. The government keeps printing free money, and people keep sticking into riskier and riskier investments since the regular investments aren't paying out.
And since groups of people are controlling the small investment schemes and driving them "to the moon" by HODLing, then cash out and have more and more funds to spread to other investments to repeat the cycle.
01-31-2021, 12:28 PM
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