We are only at the beginning of this market boom.... - Page 13

80pc · 02-11-2021, 08:53 PM

Quote:

Originally Posted by UGLI baby

If you're convinced the card market is going to crash, wait til you hear what they are doing with the US Dollar...

I'm pretty confident in one of them crashing before the other!

I've been preparing for this since around 1996, same time I read a certain book. What has happened in the last year or two with regard to USD has blown me away. I don't want to be holding any of it and have buying as many real assets as I can.

Swipe79 · 02-11-2021, 08:54 PM

I read through some more posts...joe is a troll. Got it...moving on.

joe73 · 02-11-2021, 08:54 PM

Quote:

Originally Posted by auctionjmm

Yes, drop in the bucket. When an asset appreciates 1000% in 4 months and loses 10%, you are still up 900%.

How many flippers are holding cards for four months? How many flippers could afford to hold cards for four months once the downturn starts?

Cavaliercards · 02-11-2021, 08:55 PM

Quote:

Originally Posted by auctionjmm

He just said he's been in business for 30 years! I think he figured it out.

Our shop been around with for 30 years with same two owners. Sadly one of them passed away last week.

Our surviving owner has been in this industry almost 42 years now, he knows what he is doing.

rngrdanny22 · 02-11-2021, 08:55 PM

I see good 'ole Joe is still making himself known in these type threads. It warms my heart.

Cavaliercards · 02-11-2021, 08:55 PM

Quote:

Originally Posted by joe73

How many flippers are holding cards for four months? How many flippers could afford to hold cards for four months once the downturn starts?

Large majority.

monkeymcgee · 02-11-2021, 08:55 PM

Quote:

Originally Posted by joe73

And the pandemic? All this new money is here to stay?

I think the stuff the guys with money are buying will stay high. I think lower tiered stuff will take a hit since I think the people who need to flip to stay afloat will find other ways to spend. But I don't think it will crash since the top of the market will continue to generate interest and inspire similar tactics at lower levels.

joe73 · 02-11-2021, 08:55 PM

Quote:

Originally Posted by auctionjmm

No, I was responding to YOUR comments. That's how you debate with people Joe. You take their opinion into consideration and then offer an alternative. You were the one who said it. I responded to it.

No, no. You contradicted yourself. Is Target's sports card section full of unemployed guys with nothing better to do or is it full of millionaires like your father?

Cavaliercards · 02-11-2021, 08:56 PM

Quote:

Originally Posted by Rjk214

Gambling is only just starting to make headway in the USA on a National Level. Sports Gambling is quickly gaining momentum. Do you know what comes with Sports Betting? Sports Cards.....

Factor that in with the economy and what is likely to be several more years with no changes.

This nothing for cards yet. I am expecting another jump before any downward move. People don't realize what is happening. They just see oh prices went up. Must be too high

Virginia just got legalized betting and already we have newbies wanting cards of guys they do in parlays.

monkeymcgee · 02-11-2021, 08:57 PM

Quote:

Originally Posted by 80pc

I've been preparing for this since around 1996, same time I read a certain book. What has happened in the last year or two with regard to USD has blown me away. I don't want to be holding any of it and have buying as many real assets as I can.

Just curious--The Creature From Jekyll Island?

JWBlue · 02-11-2021, 08:59 PM

I am not sure I buy the assumption people will stop buying cards when things get back to normal. They will take money out of their brokerage account and diversify into cards. More fun than stocks.

joe73 · 02-11-2021, 08:59 PM

Quote:

Originally Posted by Swipe79

You're welcome to make up your own reality.

I can only tell you what I saw personally back then and have seen since. My LCS owner is just selling off the last of a collection that had between 800-1,000 boxes of old unopened stuff. Much of it by the case. I've run across quite a few people with their cardboard investments tucked away in a closet.

You saw masses of people hoarding unopened wax in the 1980s?

I didn't know a single person back then who thought unopened 1988 Donruss would be in big demand in 10 or 20 years.

80pc · 02-11-2021, 08:59 PM

Quote:

Originally Posted by monkeymcgee

Just curious--The Creature From Jekyll Island?

That's the one. Set me on the path.

auctionjmm · 02-11-2021, 08:59 PM

Quote:

Originally Posted by joe73

How many flippers are holding cards for four months? How many flippers could afford to hold cards for four months once the downturn starts?

If they've been flipping the last couple of years they are already up thousands of percentage points! They could lose every box they own tomorrow and still be up big. Why can't you see that?

joe73 · 02-11-2021, 09:00 PM

Quote:

Originally Posted by Cavaliercards

Our shop been around with for 30 years with same two owners. Sadly one of them passed away last week.

Our surviving owner has been in this industry almost 42 years now, he knows what he is doing.

Is this your way of telling us you don't, in fact, do the accounting?

Cavaliercards · 02-11-2021, 09:02 PM

Quote:

Originally Posted by joe73

Is this your way of telling us you don't, in fact, do the accounting?

Oh I do financial aspect and a 10% pullback would be a drop in the bucket.

We have more than one person do it that way to insure everything is done correctly, texted other person this thread.

They said 10% is a small grain and wouldnt be an issue.

joe73 · 02-11-2021, 09:03 PM

Quote:

Originally Posted by auctionjmm

If they've been flipping the last couple of years they are already up thousands of percentage points! They could lose every box they own tomorrow and still be up big. Why can't you see that?

Because most gamblers don't bank their profits. They keep on gambling.

If everyone is banking so much money, why are people wetting their pants in the PayPal/1099 thread?

auctionjmm · 02-11-2021, 09:03 PM

Quote:

Originally Posted by joe73

No, no. You contradicted yourself. Is Target's sports card section full of unemployed guys with nothing better to do or is it full of millionaires like your father?

No, not at all true. I know how to debate Joe because I do it for a living. When a kid tells me his parent is too strict I present a counter argument on how to survive having strict parents. I don't debate whether or not his parent is actually strict. My opinion on parenting is irrelevant when I have an irritated teenager in my office. It's all about seeing the argument through the other person's lenses. I should bill you $100 for the hour of counseling you just got.

Cavaliercards · 02-11-2021, 09:03 PM

Quote:

Originally Posted by auctionjmm

If they've been flipping the last couple of years they are already up thousands of percentage points! They could lose every box they own tomorrow and still be up big. Why can't you see that?

Just wants to be contrarian.

Cavaliercards · 02-11-2021, 09:04 PM

Quote:

Originally Posted by joe73

Because most gamblers don't bank their profits. They keep on gambling.

If everyone is banking so much money, why are people wetting their pants in the PayPal/1099 thread?

They are upset because they had not had to pay these before. Bet most of them would be fine with a 25-35% loss in value to their cards instead of paying taxes on them. Some people it will change eligibility for financial aid for children and many other things.

pewe · 02-11-2021, 09:06 PM

Quote:

Originally Posted by Cavaliercards

Our shop been around with for 30 years with same two owners. Sadly one of them passed away last week.

Our surviving owner has been in this industry almost 42 years now, he knows what he is doing.

That is really really sad to hear

I wish you all the best

Sent from my iPhone using Tapatalk

Cavaliercards · 02-11-2021, 09:07 PM

Quote:

Originally Posted by pewe

That is really really sad to hear

I wish you all the best

Sent from my iPhone using Tapatalk

Thank you, it was a shock to all of us. He will be missed. Was a very loyal Yankees fan.

joe73 · 02-11-2021, 09:07 PM

Quote:

Originally Posted by Cavaliercards

They are upset because they had not had to pay these before. Bet most of them would be fine with a 25-35% loss in value to their cards instead of paying taxes on them. Some people it will change eligibility for financial aid for children and many other things.

They'd prefer prices to crash 25% to 35% than to pay taxes in a booming market? That makes no sense whatsoever.

Cavaliercards · 02-11-2021, 09:08 PM

Quote:

Originally Posted by joe73

They'd prefer prices to crash 25% to 35% than to pay taxes in a booming market? That makes no sense whatsoever.

Makes a lot of sense actually, as most would prefer not to pay that money in form of taxes.

Can look at the twitter threads and people saying as much.

joe73 · 02-11-2021, 09:09 PM

Quote:

Originally Posted by auctionjmm

No, not at all true. I know how to debate Joe because I do it for a living. When a kid tells me his parent is too strict I present a counter argument on how to survive having strict parents. I don't debate whether or not his parent is actually strict. My opinion on parenting is irrelevant when I have an irritated teenager in my office. It's all about seeing the argument through the other person's lenses. I should bill you $100 for the hour of counseling you just got.

I have 1988 Donruss commons worth more than the "counseling" you've provided.

You didn't answer my question, either.

02-11-2021, 08:54 PM	#302
Swipe79 Member Join Date: May 2010 Location: Vancouver, WA Posts: 13,162 Swipe79 XFactor	I read through some more posts...joe is a troll. Got it...moving on. __________________ Have a nice day! Last edited by blowoutcards4; 02-11-2021 at 11:58 PM. Reason: no

02-11-2021, 08:55 PM	#305
rngrdanny22 Member Join Date: Jan 2015 Posts: 12,372	I see good 'ole Joe is still making himself known in these type threads. It warms my heart.

02-11-2021, 08:59 PM	#311
JWBlue Member Join Date: Sep 2014 Location: Phoenix, AZ Posts: 9,746	I am not sure I buy the assumption people will stop buying cards when things get back to normal. They will take money out of their brokerage account and diversify into cards. More fun than stocks.