deNurse🍟

Kevin O’Leary explains why they have over $100,000,000 invested in cards “I’d argue this is no different than building a portfolio of modern art” “I’ve got three partners. One of them is Shyne, he’s a legend in the hobby. He curates for us and so he decides which card we buy next” “If you look at the data… 90% of the returns come from a fraction of the cards that are piece uniques. The ones that trade for $5M, $10M, $20M, $30M, even $40M now” “Because they’re so rare, they’re so coveted, they’re so well known, they’re so liquid, the rest do not get those kind of returns” “So this card here is a 1997 Jordan… it’s 2 of 9 and we also control another one, it’s a grail piece. It would trade today around $4.7M to $5.2M. Had you bought it on its issue in 1997, you’ve outperformed every market” “So the strategy I’m using here is to build a portfolio… we’re well over $100M now in cards but only the piece uniques” “My analyst showed me how this outperformed many other alternative asset classes. I challenged him I said look at my watch collection, let’s compare it against that and he said, sorry boss this thing wiped you out” “This is such a broad interest, 150 million people are in the hobby in America with sons and daughters and so it’s become part of culture” “But I prefer the living legends or the legends that have passed. Kobe right now, a signed auto Kobe, Kobe’s gone. He won’t be signing any more cards. Those are very, very valuable” “Versus let’s say, a Pokémon which never really lived anyways and so for me, I’m steering my say in the syndicate away from the fictitious stuff. I want living or historic legends”