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I forsee nice card sales in the short term
MinorLeaguer
Posts: 497 ✭✭✭
I suspect some nice cards will be moving thanks to GOOG today. That stock was just begging to give money to anyone that would simply go long from the get go yesterday or today. I did well but messed up because I had a GOOG 890/950 bull call spread going into earnings. whoda thunk I'd hit for the full 60 points in one shot and the max. profit left about another 60 points on the table. And they weren't minis. Oh well. Never complain when you make a profit. There had to be people that made 6 and 7 figs today on Google today. So if you have Wall-St. type clientele, I'd bump your prices up a bit today :-)
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<< <i>Google bumped to over $1000 per share, so some people probably sold off for some profit and will blow it on cardboard pictures of men. >>
I think the biggest benefactor will be the girls who are for sale in NYC tonight.
<< <i>The bull call spread was a wise move... You can't be too upset that you left that much in the table? Nobody could have predicted a 14% move on a 300 billion market cap company. Nice trade! Aapl earnings should be interesting. I think the mkt is over due for a correction but I can't fight the mkt. it's been an unbelievable year... Even with some hiccups with aapl it's still been great. >>
Wall Street hates Apple and its miserly ways. Right or wrong, Apple sitting on a hoard of cash and not borrowing any to invest despite record low borrowing rates is only going to further this streak. I'd stay away. I think there are much better tech options out there. Apple is just far too much a personal buy for far too many people.
Google's move today was amazing, and that big a lift was remarkable. I disagree that the market is due for a correction - experts have been claiming as much since this rally started early this year, but company after company keeps reporting fantastic numbers.
Nice spread by the way, I don't think anyone saw that kind of jump coming but at least you saw a great portion of it.
Join the Rookie stars on top PSA registry today:
1980-1989 Cello Packs - Rookies
<< <i>The US has Trillions of assets. We could sell Alaska back to Russia for $2 Trillion. Hawaii to Japan for $1 Trillion. Our gold holdings for $600B. Offshore drilling rights for another $2 Trillion. I could go on. >>
So rather than cut spending you are suggesting liquidating assets? Alaska is one of the few states that generates a surplus. It would be stupid to sell something that generates revenue. I would rather keep Alaska a give Michigan to Canada for free
<< <i>
<< <i>The US has Trillions of assets. We could sell Alaska back to Russia for $2 Trillion. Hawaii to Japan for $1 Trillion. Our gold holdings for $600B. Offshore drilling rights for another $2 Trillion. I could go on. >>
So rather than cut spending you are suggesting liquidating assets? Alaska is one of the few states that generates a surplus. It would be stupid to sell something that generates revenue. I would rather keep Alaska a give Michigan to Canada for free >>
Not true. Alaska takes in $1.84 from the Feds for every dollar paid to the Feds. Alaska is one of the worst. Dump it. We bought it for $7M. We could probably sell it for $2 Trillion. Maybe more.
Taxes by State
<< <i>
<< <i>The US has Trillions of assets. We could sell Alaska back to Russia for $2 Trillion. Hawaii to Japan for $1 Trillion. Our gold holdings for $600B. Offshore drilling rights for another $2 Trillion. I could go on. >>
So rather than cut spending you are suggesting liquidating assets? Alaska is one of the few states that generates a surplus. It would be stupid to sell something that generates revenue. I would rather keep Alaska a give Michigan to Canada for free >>
Alaska, as was noted, is a huge taker of resources and not much of a giver, no matter how much Palin blusters about it. Utah is another huge net loss for the government, taking in way more revenues than they pay in (despite Congressman Lee's insistence to the contrary).
People overstate the effects of debt, and trying to equate it to a personal level shows a completely flawed understanding of how the country's economic system works. We have cut back spending to absurdly low levels, what needs to rise is corporate tax revenues. The perfect example of how completely out of sync the corporate tax structure is is that a company like GE, a mammoth, not only pays no money in taxes, but actually gets a REFUND. And anyone suggesting that raising taxes would somehow hurt the economy or cut job growth? Look back about 30-40 years when the highest earners in this country were paying north of 70% in taxes. At some point (during the Reagan 80s, more specifically), folks got it in their head that greed was good and they shouldn't pay their fair share anymore.
<< <i>
<< <i>The US has Trillions of assets. We could sell Alaska back to Russia for $2 Trillion. Hawaii to Japan for $1 Trillion. Our gold holdings for $600B. Offshore drilling rights for another $2 Trillion. I could go on. >>
So rather than cut spending you are suggesting liquidating assets? Alaska is one of the few states that generates a surplus. It would be stupid to sell something that generates revenue. I would rather keep Alaska a give Michigan to Canada for free >>
Canada says OK, as long as Detroit is not included.
Nick
Reap the whirlwind.
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<< <i>I like how a thread completely unrelated to cards or sports in general is made a sports topic because someone may have made some money and may have spent it on cards. >>
Ok, I'll try and make the thread a little more related to cards with some reminiscing:
Anyone remember all the sidewalk tables full of cards, wax and foil in the WTC/Wall St. area around 1990? I was a lowly poor phone rep/clerk, green and right out of college. When out and about on my lunch break, I remember the freezing cold winter days rubbing shoulders alongside 40-60 year old men in their $1000 cashmere coats all of us drooling over the tables and busting packs with our numb hands. The table always exploded when someone pulled a 1990 OPC Premier Jaromir Jagr or 1990 Leaf Frank Thomas. Good memories.
The biggest risk to our entire system are rising interest rates. In 2012 we paid almost the same amount of interest on 16.06 trillion in debt that we paid on less then 5 trillion in 1995. Tax revenues are at all time highs and so is GDP.
If you have a three to four percent rise across the treasury curve look out as the interest cost explodes on 17 trillion. Our current federal tax revenue is just over 2.7 trillion and the interest cost increase at current levels would be over 500 billion to 680 billion in that example.
That is with today's debt levels and obviously they will be much higher in just a few years. At some point in the not to distant future you can't take it in fast enough to keep up.
It is just math.
<< <i>Florida and California could be sold off and I don't think anyone would care. >>
As a Floridian, please show me where to sign up for that to get us out from underneath the U.S. Government.
<< <i> Hawaii to Japan for $1 Trillion. >>
good. if they could figure out a way to keep trash and molasses from destroying the eco-system.
<< <i>
<< <i> Hawaii to Japan for $1 Trillion. >>
good. if they could figure out a way to keep trash and molasses from destroying the eco-system. >>
Boston was unable to do that once upon a time.
Boston Molasses Disaster
<< <i>Florida and California could be sold off and I don't think anyone would care. >>
The rest of the nation would surely suffer if California were gone. Your food supply? Good luck replacing what California brings. Your tech? Now belongs to another country. Try replacing the Silicon Valley with anything else - you won't. And I won't even bring up tax revenues (ok I will). Good luck replacing the billions and billions of dollars California gives in tax revenues vs. what it receives.
But sure, go ahead and sell off California, better yet, let us secede and it wouldn't take long for the remaining states to bow to the greatness that is California.
<< <i>Florida and California could be sold off and I don't think anyone would care. >>
Hey!
Be nice now!
<< <i>2.8 million illegals live in the state who don't pay taxes. We have to work hard to pay for their babies etc. >>
Right, because its only illegals who receive state aid. I mean no businesses whatsoever receive state aid. /eyeroll
<< <i>
<< <i>2.8 million illegals live in the state who don't pay taxes. We have to work hard to pay for their babies etc. >>
Right, because its only illegals who receive state aid. I mean no businesses whatsoever receive state aid. /eyeroll >>
I mean really, how is that even relevant?
<< <i>
<< <i>The US has Trillions of assets. We could sell Alaska back to Russia for $2 Trillion. Hawaii to Japan for $1 Trillion. Our gold holdings for $600B. Offshore drilling rights for another $2 Trillion. I could go on. >>
So rather than cut spending you are suggesting liquidating assets? Alaska is one of the few states that generates a surplus. It would be stupid to sell something that generates revenue. I would rather keep Alaska a give Michigan to Canada for free >>
Evening,
Come on lets get real !!!!! Alaska, Michigan (Although I do agree that getting rid of Detroit is a No Brainer), if you want to liqudate, California, home of the Fruits and Nuts should be first on the auction block, followed closely by Washington (State not DC although arguments could be for that too), anybody who lives where it rains like the 40 days & nights Biblical metophor is not quite right! Followed closely by Montana and Wyoming, land of the Wind. !!!!!!!!!!!!!!!!!!!
Be hard to sell Hawaii back to Japan when they already own it !!!
YeeHah
Neil
<< <i>2.8 million illegals live in the state who don't pay taxes. We have to work hard to pay for their babies etc. >>
Who told you that illegals don't pay taxes? I've never heard anyone make that ridiculous claim before- not even on the Internet.
<< <i>not even on the Internet. >>
That's the INTERNETS for pinkies like you.
<< <i>If someone doesn't think our nations debt is a problem they are delusional.
The biggest risk to our entire system are rising interest rates. In 2012 we paid almost the same amount of interest on 16.06 trillion in debt that we paid on less then 5 trillion in 1995. Tax revenues are at all time highs and so is GDP.
If you have a three to four percent rise across the treasury curve look out as the interest cost explodes on 17 trillion. Our current federal tax revenue is just over 2.7 trillion and the interest cost increase at current levels would be over 500 billion to 680 billion in that example.
That is with today's debt levels and obviously they will be much higher in just a few years. At some point in the not to distant future you can't take it in fast enough to keep up.
It is just math. >>
Agree 100%
It's not political... It's just math. Anyone that disagrees I would love to see why mathematically and not rhetoric.
<< <i>
<< <i>If someone doesn't think our nations debt is a problem they are delusional.
The biggest risk to our entire system are rising interest rates. In 2012 we paid almost the same amount of interest on 16.06 trillion in debt that we paid on less then 5 trillion in 1995. Tax revenues are at all time highs and so is GDP.
If you have a three to four percent rise across the treasury curve look out as the interest cost explodes on 17 trillion. Our current federal tax revenue is just over 2.7 trillion and the interest cost increase at current levels would be over 500 billion to 680 billion in that example.
That is with today's debt levels and obviously they will be much higher in just a few years. At some point in the not to distant future you can't take it in fast enough to keep up.
It is just math. >>
Agree 100%
It's not political... It's just math. Anyone that disagrees I would love to see why mathematically and not rhetoric. >>
There are two distinct issues here: One is whether the structural facet of the deficit is a problem (it is), and the other is whether we should be implementing austerity in the short term to deal with it (we should not). If this distinction interests you (which I hope it does), there are any number of resources available that can explain why austerian economic policies in times of economic stagnation are sub-optimal.
<< <i>
<< <i>
<< <i>If someone doesn't think our nations debt is a problem they are delusional.
The biggest risk to our entire system are rising interest rates. In 2012 we paid almost the same amount of interest on 16.06 trillion in debt that we paid on less then 5 trillion in 1995. Tax revenues are at all time highs and so is GDP.
If you have a three to four percent rise across the treasury curve look out as the interest cost explodes on 17 trillion. Our current federal tax revenue is just over 2.7 trillion and the interest cost increase at current levels would be over 500 billion to 680 billion in that example.
That is with today's debt levels and obviously they will be much higher in just a few years. At some point in the not to distant future you can't take it in fast enough to keep up.
It is just math. >>
Agree 100%
It's not political... It's just math. Anyone that disagrees I would love to see why mathematically and not rhetoric. >>
There are two distinct issues here: One is whether the structural facet of the deficit is a problem (it is), and the other is whether we should be implementing austerity in the short term to deal with it (we should not). If this distinction interests you (which I hope it does), there are any number of resources available that can explain why austerian economic policies in times of economic stagnation are sub-optimal. >>
I honestly don't think we can fix the problem and no one wants to deal with what it will take to even attempt to. There are no other examples of prior economies that I think rival what we have today in terms of size, and complexity. In my view we are in a trap of damned if we do and damned if we don't.
If you cut spending now you hurt the economy more and if you don't quit spending the tab gets to big and you have even bigger problems down the road. Because of quantitative easing the FED has been able to keep our borrowing costs down and enable us to spend more then we would as a country without driving up the deficit more.
QE in my view is not going any where so this discussion will continue for some time but the ultimate issue will be if they ever lose control of the bond market and if so the storm will hit.
<< <i>So should I sell all my cards now or not? >>
If you view cards as purely an investment, now is a great time to be a seller. Take for example a 1984 Donruss PSA 10 Don Mattingly. There have been several recent sales in excess of $1,000. This card could be had a handful of years ago for under $400. Is it a better time to be a buyer or seller? I will say seller.
I don't really view my cards as an investment in the true since of the word. As they say with stocks never fall in love with one. I love my cards so even if they go down I still want to own them. If you can't say the same then yes sell.
In the big picture I don't see an overnight collapse but there will be a lot of pain associated with what is coming. I would expect the cards that cater to the very wealthy to be the least affected because the base of buyers is strong enough to withstand a large storm in the economy. The cards that will be affected the most are probably the cards in the price range I collect. Very few of the buyers have unlimited resources and at some point will become a net seller and all it takes to have declines in cards are a few of the top bidders to back away. The card market is very thin across all segments. Just a few bids and you see significant changes in prices up or down.
We have seen assets pumped up in value across a number of asset classes and hard assets have benefited significantly. Cards are a tangible way for people to invest money with a relatively liquid secondary market and rising prices have attracted new buyers. I am in no way suggesting you won't see some cards continue to climb. None of us have a crystal ball so accurately predicting cards or any other asset class over short periods is very tough. I think we will continue to see the FED pumping money into the economy and delay the inevitable which is a crisis from global debt. I am actually very bullish on bonds for this reason as I don't think the FED is going anywhere.
Ask yourself this one question. How on earth do we solve this problem? Throw out your politics for a moment and just use a pen and paper and do some quick math. Just use the current debt and forecast it out just five years and use an increase of interest cost of 1%, 2%, 3% and 4%. It is impossible. Then when you throw politics into the discussion and it becomes even more difficult because now we have human emotion thrown into the mix. I live in Florida and in 2004 I saw what I thought was a huge housing bubble developing. I did nearly 100 hours of research on the history of housing and the relationships between interest rates, income, prices and the number of non resident purchases. By 2005 we were over 4 standard deviations above the mean. I became convinced we would see declines of 40% to 70% across Florida and when you would tell this to people they wouldn't just refute your claims they would get angry and belligerent. To many people benefited from the party and therefore rational thinking was blinded.
It is no coincidence that stocks, and cards are hitting highs at the same time. I think what might be a better predictor of cards prices are stock prices but I have no historical way of proving this. The last 10 to 15 years of card grading is not a large enough sample size and there are too many factors that have influenced it that would negate the outcomes. I do find it interesting when we see card prices for many that peaked in 2008 and have once more come back to those levels.
Everyone collects cards for different reasons and there is no correct answer for all.
<< <i>So should I sell all my cards now or not? >>
That depends on what you plan to do with the money. If you want to use the money for high interest debt, I think that's a smart move. (Of course there is a lot of cheap debt right now with rates so low)
Use it on investments to hedge against inflation.
I wouldn't sell cards and sit on cash though. If we are heading for a true economic collapse, the dollar isn't what you should be running to.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940