• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

Not Another Market Crash Thread....

Started by joe_collector,

198 posts in this topic

garthgantu

garthgantu

Posted
Posted
I recall a story someone told about right before the great stock market crash in 1929. The guy said that when the guy shining his shoes started asking for hot stock tips he knew it was time to get out. Talk about good timing! grin.gif.

 

...This is a classic tale, but the way I heard it, the teller of the story was J.D. Rockefeller, and his regular shoeshine guy had begun to give *him* tips on the market. When those tips started coming true, Rockefeller realized that something was seriously wrong with the market, moved most of his holdings from stocks to other equity, and saved the family fortune...

 

Maybe an early example of an urban legend, but it may also be largely true...

Link to comment
Share on other sites
Bonds25

Bonds25

Posted
Posted
You know, that actually makes me wonder why I'm even contributing on here, especially as the vast majority of my posts have been non-market crash related.

 

I guess if the vast majority of people on here think I'm a liar, then it says quite a lot for who I'm supposedly conversing with.

 

PLEASE PLEASE PLEASE PLEASE ...

 

acclaim.gifgrin.giflaugh.gif893applaud-thumb.gif

Link to comment
Share on other sites
Zonker

Zonker

Posted
Posted
I recall a story someone told about right before the great stock market crash in 1929. The guy said that when the guy shining his shoes started asking for hot stock tips he knew it was time to get out. Talk about good timing! grin.gif.

 

...This is a classic tale, but the way I heard it, the teller of the story was J.D. Rockefeller, and his regular shoeshine guy had begun to give *him* tips on the market. When those tips started coming true, Rockefeller realized that something was seriously wrong with the market, moved most of his holdings from stocks to other equity, and saved the family fortune...

 

Maybe an early example of an urban legend, but it may also be largely true...

 

Way I heard the story it was Joseph Kennedy (JFK's father), and it was just the fact that the shoeshine guy had an opinion on the stock market that made him get out (i.e. the so-called stupid money was now fully invested!). Started hearing a lot about this one around the time of the dotcom/telecom bust of mid2000-2001. You may be on to something regarding the urban legend character of this anecdote-- though a quick check at snopes.com did not reveal anything already documented.

 

Cheers,

Z.

Link to comment
Share on other sites
valiantman

valiantman

Posted
Posted
Way I heard the story it was Joseph Kennedy (JFK's father)

 

Not that it really matters, but USAToday, the pinnacle of news sources,

(for elementary school children across the country) also says it was Joe Kennedy.

http://www.usatoday.com/money/covers/2001-10-24-bcovwed.htm

 

Though a quick Google-search has also turned up pages crediting the story

to John Rockefeller and Bernard Baruch.

Link to comment
Share on other sites
Mushroom

Mushroom

Posted
Posted

JC. Logged back onto the boards because I am an insufficiently_thoughtful_person. You are one of the main reasons why I am trying to keep away. There is enough doom and gloom everywhere without me self inflicting myself with your constant beating up of the market.

 

Just thought I would update you on a recent ebay auction. Now I know that you easily pick apart single transactions but this one was a doozy (and the book is not a key).

 

The Brave and the Bold #44 9.0 $312.00

 

and Midnightshadow was one of the bidders.

 

Check the stats on this puppy for the last 18 months.

 

 

Link to comment
Share on other sites
Bugaboo-migration

Bugaboo-migration

Posted
Posted
Speaking of market crashes, does anyone know what this card would have sold for about 3 or 4 years ago? I figured it would sell for about $50, and I won it for $10 (and was the only bidder so probably overpaid):

 

BGS 9.5 Todd Helton Minor League card

 

Don't tell me...are you buying coins too???.... 893whatthe.gif

shocked.gif

 

Somebody.........get a rope. mad.gif

Link to comment
Share on other sites
lighthouse

lighthouse

Posted
Posted
Just wanted to "bump" this thread, as it contains J_C's LAST post...........

 

Joe? Are you still here? Why don't you END THE SILENCE? gossip.gif

 

Actually, it contains his last "existing" post... but not his last post...

 

I was watching his post count closely while greggy and Bug were going for 10K (and I was passing four people myself with lots of nonsense posts). Joe was at 2229 for about 10 days straight and then suddenly went up to 2230... But when I went looking for the new post, he had already deleted it...

 

So he's still around somewhere... Sometimes late at night, if the crickets are quiet, you can still hear him mumbling to himself as he wanders these forums in search of meaning...

 

"Oh sometimes in my dreams I can still hear the screams. Oh I wonder if [he] ever made it home..."

Link to comment
Share on other sites
pangea-migration

pangea-migration

Posted
Posted

Im with you Joe Collector. You couldnt have said it any better in all your posts and have great knowledge of whats going on. Im of the age you speak about and not till some of these people go thru some of the cycles over and over that the comic industry has taken will they understand. It only takes seeing the same cycle over and over to finally get the point that comics go up and down again and again. Study of cycles tends to show its about a 6 or 7 year cycle. Only factor this time is more money from the people who dont know how to grade have come into the hobbywith bigger money as investors. Sooooooo, the loses have already been tremendous and are only a fraction of what they will be. Just like the stock market though. People who havent been into comics will replace people who ave already gotten burns a few years down the road and the cycle will start all over again. How quickly people forget the 87stock market meltdown only to drive it up again later and now down again over the past few years. Your predictions are right on nose and its nice to finally see someone with a brain writing. Wait till more books are graded and slab is so commonplace or when everyone finally realizes that 9.0 looks just like 9.8 which looks sorta like 9.4. They are slowly and finally just starting to realize it and as more come on board with this realization there will be much to pay. They will realize it much more within a year and a half. They also dont seem to understand that 5000 copies of a book is rare when put up against a million collectors and investors. Its not when there are 100 thousand. Everything you have said fits and all the points of the market point to "NOT GOOD". What I find interesting is lots of snipet comments from people but the ones who do that never seem to offer and hypothesis. At the moment I am doing a study to figure out books that will be indicators of market rise and decline for the current market conditions. Specific books that will indicate when the new market turns bigtime. As usual, when I asked a simple question it was lambasted with the usual quick stupid remarks. One cannot be 19 in 1993 and still understand the market at that point to the point it is at now. Its just not enough experience or time. To the ones who wish to write small insulting comments. All I say is. Keep buying books 9.2 and above. Keep buying them. More More. Cause when they die I will be waiting to buy them up from you. You have written with great incite and with educated theory.

Link to comment
Share on other sites
Go to topic listing